"Modest Impact on the Economy" - bookmark it

[ThoughtCriminal]

Pardon me for borrowing link from another thread:

http://aolsvc.news.aol.com/business/article.adp?id=20050831115209990016

http://www.foxnews.com/story/0,2933,167946,00.html

<snip>
"WASHINGTON (Aug. 31) - Hurricane Katrina is likely to have only a modest impact on the U.S. economy as long as the hit to the energy sector proves transitory, White House economic adviser Ben Bernanke said Wednesday"
<snip>
"He added that most indications suggested the effect on the energy sector would indeed be temporary."
<snip>

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Why bookmark it? They said the SAME things after 9/11. And ever since have used 9/11 as an excuse for the shabby economy.

You can COUNT on it - Bush apologists will cite Katrina for YEARS of higher gas prices, bigger deficits and a crumbling economy.

Mr. Bernanke's remarks are contrary to common sense and other economists, but hey this is THEIR TOP ECONOMIC ADVISOR saying this so let's hold them to it.

[orwell]

1. And...

Bernanke is likely the next Federal Reserve Chairman. He certainly is incompetent enough for the job.

[indepat]

2. Yikes!

[chicagiana]

3. And if those oil platforms are down for the count ...

... I suppose the impact to the US would be just transitory, ehh....

No, we are headed for $3-$4/gallon gas prices for WEEKS. That will have a PROFOUND impact on the economy. It will have a far bigger impact than the 9/11 attacks.