The Biggest Threat to the Economy Is From Outer Space
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Threats to the electric grid are coming from everywhere: saboteurs, weather and, as silly as it sounds, from outer space. The danger is significant and growing, and business risk managers are taking it seriously.
The latest warning comes from Paul Singer’s Elliott Management Corp., a $24.8 billion hedge-fund firm based in New York. Singer warned investors, in a letter obtained by Bloomberg News, of what he sees as the gravest threat: an electromagnetic pulse from the Sun that knocks out the grid for months or longer.