In June 2013, a joint venture from researchers at Lloyd's of London and Atmospheric and Environmental Research
(AER) in the United States used data from the Carrington Event to
estimate the current cost of a similar event to the US at $0.6-2.6
trillion.[12]
end quote from:
the Carrington Event
On July 23, 2012, a massive, and potentially damaging, "Carrington-class" Solar Superstorm (Solar flare, Coronal mass ejection, Solar EMP) barely missed Earth, according to NASA.[2][3] There is estimated to be a 12% chance of a similar event actually hitting Earth in the next ten years.[2]
end quote from same source as above.
It was also mentioned that if the July 23rd event had hit we would still be recovering worldwide from this event.
This is one reason why having one's information backed up by Non-magnetic media all the time might be important. Non-magnetic media are things like Cd's and DVD's which are plastic and cut by lasers instead of being like Magnetic Tape or a hard drive which is a magnetic media. So, if this hit you could literally lose your book or homework on your computer, your whole hard drive both the operating system and data you have recorded, your business, it could cause planes to crash, cause self driving cars to crash, cause robots to malfunction in various ways etc. etc. etc.
In other words it could bring life as we know it in the technological world to a standstill for years. It wouldn't be fatal it would just be very unpleasant for millions of people. However, in regard to the growing and transportation of food it might be very problematic in trying to keep people fed worldwide. The most immediate loss likely for several months would be worldwide communication both through phones and computers, unless they were copper or aluminum lines being spoken over and not cell phones.
To the best of my ability I write about my experience of the Universe Past, Present and Future
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