The insured damage estimates from Hurricane Katrina’s assault on the Gulf Coast continue to grow. Naturally, the extensive damage is bad in the short term and poor people are screwed, but the broader economic fallout probably won’t be that great if the damage to energy facilities on the Gulf isn’t too significant.
Basically, when you get down to it, the economy in the Louisiana, Mississippi and Alabama are going to get a $25 billion cash infusion to purchase new buildings and goods. The insurance companies are going to bitch about it, naturally, but don’t feel too badly for them.
Comments
I missed your sarcasm elsewhere. I don't have time to read your stinkin' links.
Posted by: Mr. Guapo | August 31, 2005 2:01 PM
Based on a further twelve hours of coverage, yes it is that bad.
Posted by: hellx | August 31, 2005 11:45 PM
It's not every day that a major American city, and much of the vital infrastructure around it, gets destroyed.
On the plus side: When was the last time that America's sweetheart football team was the New Orleans Saints?
Posted by: Mr. Guapo | September 1, 2005 8:46 AM