
"The strongest geomagnetic storm on record is the Carrington Event of August-September 1859, named after British astronomer Richard Carrington who witnessed the instigating solar flare with his unaided eye while he was projecting an image of the sun on a white screen. Geomagnetic activity triggered by the explosion electrified telegraph lines, shocking technicians and setting their telegraph papers on fire; Northern Lights spread as far south as Cuba and Hawaii; auroras over the Rocky Mountains were so bright, the glow woke campers who began preparing breakfast because they thought it was morning. Best estimates rank the Carrington Event as 50% or more stronger than the superstorm of May 1921.
"A contemporary repetition of the Carrington Event would cause … extensive social and economic disruptions," the report warns. Power outages would be accompanied by radio blackouts and satellite malfunctions; telecommunications, GPS navigation, banking and finance, and transportation would all be affected. Some problems would correct themselves with the fading of the storm: radio and GPS transmissions could come back online fairly quickly. Other problems would be lasting: a burnt-out multi-ton transformer, for instance, can take weeks or months to repair. The total economic impact in the first year alone could reach $2 trillion, some 20 times greater than the costs of a Hurricane Katrina or, to use a timelier example, a few TARPs."

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