The US economy looks shaky in the wake of Katrina

Henry Thornton writes: The Economist sums up as follows: “Officials say they can only guess at the death toll after Hurricane Katrina struck the Gulf of Mexico coast, but it is already known to be in the hundreds. Besides its devastating cost in lives, Katrina could do substantial damage to the American economy.” Henry Thornton […]

Crikey

Sep 01, 2005

Henry Thornton writes:

The Economist sums up as follows:
“Officials say they can only guess at the death toll after Hurricane Katrina
struck the Gulf of Mexico coast, but it is already known to be in the hundreds.
Besides its devastating cost in lives, Katrina could do substantial damage to
the American economy.”

Henry Thornton notes: “The price of oil has been
driven to US$70, there is an enormous damage and loss of life and yet US shares
rallied overnight.”

More here.