What happening in the world take a snap look

Massive droughts in the U.S.

Image: AP

Area Impacted: Texas,

Image: AP

Area Impacted: Russia, around Moscow

Weather Event: Wildfires, sparked after a drought, ravaged large portions of the country in 2010.

Economic Impact: Russia's fires could cost the country as much as 1% of GDP, of $15 billion. The country's halt of wheat exports will impact prices worldwide, particularly in key trade partners like Europe.

Huge U.S. East Coast snow storms

Image: Dan Ngyuen NY via Flickr

Area Impacted: East Coast of the United States, stretching from the Mid-Atlantic to New England

Weather Event: Abnormal amount of large snow storms slamming key markets like New York and Philadelphia.

Economic Impact: The weather has been impacting U.S. jobs numbers, with a higher number of initial claims coming in than expected. It is making it difficult for analysts to grasp whether or not the U.S. is in full jobs recovery mode, and entering a new period of expansion.

The U.S. snow problem is not limited to the East Coast, and is impacting a broad swath of the country in its latest round.

Destructive Chinese drought

Area Impacted: Southern China

Weather Event

Brazilian floods kill hundreds

Image: AP

Area Impacted: Around Sao Paolo

Weather Event: Floods and

European floods of 2010 cost economies billions

Area Impacted: Poland, Germany, Central Europe
Weather Event: Destructive floods in 2010

Economic Impact: Floods have slammed some of Europe's key farmland, including fields in Poland. The estimated cost to the European economy is €2.5 billion.

Pakistan floods displace millions

Image: ap

Area Impacted: Queensland, Australia
Weather Event: Massive floods

Economic Impact: GDP estimates being are trimmed over hits to the country's farming industry. Coking coal industry also smashed. The economic impact will extend into 2012, due to an inability to plant winter crops.

Area Impacted: Queensland, Australia
Weather Event: New, powerful cyclone

Economic Impact: Cyclone expected to cause death, destruction, and further flooding. Damages to crops likely to increase food price inflation risk.

Now, worried food price inflation could create another Egypt?

Image: 3arabaway, CC license