I WAS EXPECTING AN EARTH-SHATTERING KABOOM: The Biggest Threat to the Economy Could Come From Outer Space.

Imagine waking up just after midnight to a sky so bright you swear it must be early morning. Imagine seeing the Northern Lights as far south as Cuba or Hawaii. Imagine that the same phenomena behind both has also generated electric fields in the ground strong enough to power small electronics. That’s what happened in 1859, when the earth was struck by the most severe geomagnetic storm ever recorded.

Forget asset bubbles, recessions, or hurricanes—space weather could prove far more economically harmful. A severe geomagnetic storm—a sudden, violent eruption of gas and magnetic fields from the sun’s surface—could prove particularly devastating. If the 1859 storm, known as the “Carrington event,” were to recur today it could cause trillions of dollars in economic damage and take years to recover from, according to estimates.

The sun would sneeze and the economy could shatter.

Yes, I’ve been recommending hardening our systems against this and other disasters for years. It would have been a good use for the “stimulus” money, except that it would have produced too many jobs for burly men. Related item here.