The protests in Los Angeles over the past few days have turned into an economic nightmare, reminiscent of the events of 1992, amid one of the most violent waves of unrest seen in the city’s streets. This time, however, the losses have been even more severe, with widespread looting of private properties and theft from major companies like Apple, alongside a series of fires and clashes with police. Initial estimates suggest losses exceeding $100 million, with insurance companies preparing for massive payouts. The deployment of federal forces to restore stability was estimated at $134 million, while thousands of claims are expected from small and medium business owners who lost their properties or goods overnight. Comparisons are being drawn to the 1992 riots, where losses reached $775 million, equivalent to over $1.4 billion today. The unrest has affected around 1,000 commercial establishments, either through looting or forced closures, with small business owners fearing it may take months or even years to recover. Indirect damages, such as disrupted supply chains and reduced consumer spending, are also expected to significantly impact the local economy.
— new from (العربي الجديد)
