Catastrophes and the economy: In the midst of hardship, it seems unfathomable that the spending jolt following the crisis often offsets the temporary business standstill. When you live in Oklahoma, you naturally think of tornadoes and earthquakes but grass fires have all too often been the result of low relative humidity, drought and high winds – all common in our state.

We bond emotionally with those who suffer loss, but that loss is diverted to us in the form of increased insurance premiums, materials costs and even fuel prices. Are they a bane or boon to the economy? Mark Zandi of Moody’s A...