The public is reeling, and will be for a long time to come, as a result of Hurricane Katrina.
But it is just about certain that there will be another hurricane making landfall before this year is over – and it could be another major (category 4 or 5) storm. Is ANYONE preparing for it?
Good summary by Ron Fournier of the complete failure of all branches of government, especially the Federal government, in responding to the crises in New Orleans.
Meanwhile, some of us have been wondering about what the workers in New Orleans are going to do about jobs (see the article by Jeannine Aversa, AP Economics Writer). Even with rebuilding factored in, there are predictions of Gulf Coast unemployment rates of 25% or more.
Finally, everyone is worried about the long-term impact of higher fuel costs on the US economy, which has been artifically resuscitated for the last couple of years by the real estate bubble and lending from foreign countries.
If all of this havoc was caused by one hurricane, what will happen if there’s a second one?
Or for that matter, another 9/11?