Gustav and economic recovery
Sitting comfortably at home this weekend, we couldn’t help but notice hurricane Gustav head directly towards New Orleans. As I write, Gustav is expected to make landfall as a Cat 4 ‘cane- not a wimpy breeze indeed. New Orleans hasn’t quite rebuilt adequately, although this storm will certainly test reconstruction efforts. In the comments to Holy GDP, we started to discuss how unforseen events can impact the economy and markets in unanticipated ways. Read more »
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