A boat passes through a flooded neighborhood in this aerial photograph taken above Wallace, North Carolina, U.S., on Friday, Sept. 21, 2018. (Photo: Alex Wroblewski/Bloomberg)
(Bloomberg) — What makes a disaster? When we think of calamity, most of us think of floodwaters that submerge towns or hurricane winds that shred buildings. The U.S. federal government uses another kind of measure to decide whether an act of nature becomes an official disaster: its cost.
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