Massive solar flare could cost us $2 trillion

BYLINE: Patrick Jones

In 1859 the sun burped out a tremendous flare. It was so spectacular it has garnered the name the Carrington Event.

The effects were skies of purple, red and green as well as telegraph wires essentially turning into shock collars.

However, if the event were to repeat itself today there would be way more damage. We'd really only have a few minutes, optimistically, to bunker down.

Here's what a repeat Carrington Event would look like:

The flares would knock out satellites, GPS and a solid portion of the power grid. Meaning boats, cars and planes would be cruising without instrumentation.

We'd need to ground every single plane immediately without the help of a GPS. Astronauts in space might be able to survive in their crafts, but they should stay inside.

The estimated cost of such a flare on a planetary level is presumed to be between 1 and 2 trillion dollars.