Gulf Oil Spill Will Coat a Million Jobs
One Wall Street analyst has a very dire projection about the economic effects of the BP oil spill. David Kotok, the co-founder and chief investment officer of Cumberland Advisors, a Sarasota, Florida-based investment advistory firm, has projected that the spill will cost 1 million permanent jobs in the next five years. (Hat tip to Politico’s Morning Money.)
The price of real estate properties around the Gulf of Mexico has been projected to fall up to 10 percent — erasing some $4.3 billion in value — Bloomberg noted recently.
