How Katrina will affect the US

Outside of the devastating loss of life and property locally, Katrina could also deeply impact life as we know it in these United States.
From the price of gas to the price of coffee, our lifes may be greatly change by an act of nature many miles from out homes.

In this thread,I hope we can gather articles and information on the less immediate effects of this hurricane.
[quoteWhile most storms have only a regional impact, Katrina could be the rare beast that has national or even international consequences.

"There is a real sense of foreboding about the economy now that Katrina has struck with full force," said Bernard Baumohl, executive director of Economic Outlook Group. "The Louisiana and Mississippi Gulf region represent the soft underbelly of the U.S. energy industry."

Katrina took aim at a vulnerable chokepoint for U.S. energy markets. The region not only produces a large percentage of domestic oil and gas, it is also a transportation hub for both imported and domestic production.

Not to sound the dopey optimist here but it WILL supply us with thousands of needed jobs, but at what a cost.

It sounds crazy but it could actually be GOOD for the economy

Officials: Gas Supply Good Now, But Some Stations Could Run Out
price of basically all goods will be raised to compensate for gasoline shortages and high oil prices.

Fed Reserve inflation fears grow

US heading for house price crash, Greenspan tells buyers
Katrina only makes the situation worse..Insurance rates will go up sharply.
Insurers will refuse to cover houses in more areas...House Prices in the south drop.

Then we have the health concerns:

www.usatoday.com...

Could we see an outbreak of disease associated with unsanitary conditions? New Orleans is an area ripe for the breeding of mosquitos and all the diseases they may carry.

www.usatoday.com...

How little we realize how we depend on New Orleans and the Mississippi Delta area.
We just take things for granted.


cbs2chicago.com...

Fron the same cbs2chicago story:

I fear that Katrina will be a trigger event on several fronts.

You've got what a million refugees now? Most will be taken in by friends and family for a while but the situation there is deteriorating and civil order has broken down.

They've lost everything and have no jobs for probably months before reconstruction gets going. How big a chunk of the economy is that?

Over a quarter of your domestic oil production is currently idle with more storms sure to come.

I feel for those affected and the loss of life, but this could be the shock to bring down the economic house of cards we've been building.
.

I know if I still did construction me and my entire crew would be headed south right now.

Most of what yall site is bad but temporary, the reconstruction will go on for YEARS

I love the media coverage of this....

This article is...... funny in a weird way.




Yes its exactlly like that !




Oh is it.




Nuff said on that one.

news.yahoo.com.../ap/20050831/ap_on_re_us/katrina_new_orleans

Here is a good article.

www.dallasnews.com...
The advent of $3 gasoline may be just days away. Drivers can brace for price spikes at the pump as the effects of Hurricane Katrina spread through the market, setting the stage for most gas stations nationwide to cross the $3-a-gallon mark next month

Damn $4 dollars a gallon ????

Why are we paying $6.50 Dollars a gallon here in the UK and when don't even get hurricanes


~Welcome to the world of bleed the public dry Americans.

But do you realize how far American's have to drive? Trucking in this country is absolutely necessary.....It is all about scale! All of the UK could fit within about 3 new england US states.

[edit on 30-8-2005 by loam]

On a related note, somebody made an image to help europeans visualize exactly how big Katrina was. I'll look for it...


That's Katrina. And that's the entire nation of France INSIDE of Katrina.

Esoterica,

That proves a picture is worth a thousand words......

kATRINA will test the mettle of our leaders. Will they show us strength or will it be a case of "all hat no cattle" as J. McCain once said of Pres. W.

Unemployment will go down if we have enough raw materials to rebuild. Remember we are trying to rebuild Iraq. That is why there is a shortage of plywood now. The once brisk new housing industry will collapse for lack of building materials going to rebuild the south.

I know some are optimistic. I'm not!
The insurance industry is going to take a big blow and this is going to drive the stock mkt. down, way down and it's not like it was that strong anyway.
Detroit is going to suffer cause nobody will be able to afford gas for the big suv and trucks. Prices of everything are going to SKYROCKET because the trucking industry is going to raise rates to cover their fuel costs.

The question is; can we rebuild Iraq and the south at the same time?

whaaa you should consider the field of helping depressed people, I think you could speed up their suicides exponentially.

Can we please not have this degenerate into petty political stuff right now.
This is a terrible natural disaster with hundreds of people dead and a major US port is almost completly under water. This is will cause an extremely negative effect on our economy.

yes you are right, the lower middle class families are gonna pay the price.
The rich never pay the price.

Surfing around the 'net is certainly painting a picture different form what I'm seeing on news channels.
The trickle down effeact of this hurricane will be felt for quite a while in this country.
Here's another way the hurricane's wrath is affecting our enonomy:
the creditworthiness of various corporate entities from local governments to insurers and airlines:

www.businessweek.com...

That's an awesome comparison, Esoterica and I thank you for posting it.
I don't think many non-Americans understand how great this disaster is. After all, we have hurricanes every year. And, America is considered a wealthy nation.

But, I predict this hurricane will have global consequences and the rest of the world (and even many in the US) have not yet realized this.

Many disease and other health concerns not ususally associated with the US may appear once the waters recede. The Mississippi Delta is after a natural swamp area and we reclaimed the area for living and working, but now nature has reclaimed her land:


www.msnbc.msn.com...

I worry that malaria could appear:
www.local10.com...