What will the true cost of Hurricane Katrina be?

[Roland99]

http://www.conjur.com/blog/2005/08/30/what-will-the-true-cost-of-hurricane-katrina-be/

Now, here's something else I've been thinking of today, re: the tragedy in LA, MS, and AL. All of these places that are destroyed, the fact that New Orleans will be CLOSED for a month, how are people going to earn a living to pay their bills (mortgages, credit cards, medical bills, food, education loans, etc.)?

I'm guessing there will be MASSIVE bankruptcy filings (hopefully they get ahead of that date the new laws kick in). And, what of the many thousands and thousands of businesses that will go under or lose huge amounts of revenue? Surely this will affect the U.S. economy in some way. And the lower Mississippi ports are all closed, no telling when they'll reopen. Gas has hit $2.99 in Milwaukee...ayup...$3/gallon gas in the Midwest now (http://www.milwaukeegasprices.com)

This storm has caused tragedy and destruction on so many levels.

:(

[spinbaby]

1. Many who evacuated are now homeless

Motels and spare bedrooms throughout the south are now filled with people who find themselves suddenly homeless and jobless.

[Roland99]

2. And ports in New Orleans serve a LOT of business for this nation

esp. handling oil/gas/etc.


No one in the media is even thinking of discussing what will be the true impact. They're ignoring it and so will this administration.

Gas will be a nationwide average of at least $2.80 after today.

[durablend]

3. Can a hurricane throw the economy into a recession?

Is there any precedent?

[Roland99]

4. Considering we've been treading water above one for years...

[Roland99]

5. WWL Anchor talking of helping New Orleans repair its economy.

That's going to take a LONG time. This is going to hurt the entire economy for a while.

[Roland99]

6. kick