A strong economy should be able to handle it

If this economy were truly robust it should be able to handle a storm like this.  I suspect however that the economy has been on a sugar high.  The sugar being consumers running up personal debt and the government spending like crazy.  The numbers fudged or explained away to show "progress".  Bush blamed the job losses in the runup to the election on 9/11.  9/11 should not have been the economic catastrophe that it was but they overreacted and screwed over many industries. I mean, a building complex came down in one city and the Pentagon lost a wing. I shouldn't have felt that here in Florida.  Its always been a convenient excuse and now they can replace it with Katrina and have a fresh topic to blame. I suspect that the eventual economic penalty from this storm will be used as an excuse for the economy showing its true colors.
At some point even these spinmeisters won't be able to fix the numbers.  Its obviously too early to know what will actually happen.  I know how huge an impact a storm hitting in that area will have on oil and shipping. I know of at least one case where gas at the pump has gone up 20 cents in the last day (undisclosed location in north central florida).  I filled up last night in anticipation so maybe I helped cause it.  My experience is that prices go up more than they go down. This whole deal of taking energy and grocieries out of the inflation numbers seems ridiculous.  It all hits me in my wallet and I believe fuel prices are going to continue to head up, unlike how they may have acted in the past. I also have noticed prices rising in various places. I'm wondering if everyone else is as nervous as I am?

Sorry, I'm a little nervous but I especially want to point out the potential for this storm to be used as an excuse by this administration in the future.  I'm wondering if this time it will be a valid one.

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4 Comments

It's going to take
at least a few days before the real damage reaches the pumps. The extraction and transfer infrastructure in the Gulf has taken significant damage, which is going to cause a shock that could really hurt.

This is gonna suck.

by catastrophile 2005-08-30 04:02PM | 0 recs
Stuff is happening now
Chevron may start rationing.  
Chevron warned its distributors that temporary rationing might be necessary, according to a press release on the company's Web site, and the company's Pascagoula, Miss., refinery remains shut down for now. So far, Foss says that she has seen a 20-cent jump for a gallon of gas at her local gas station, and some observers speculated that prices could reach an average of as much as $3 a gallon, in a short-term spike, possibly this week.
http://www.geotimes.org/current/WebExtra083005.html

http://www.floridastategasprices.com/
http://www.thehj.com/main.asp?SectionID=9&SubSectionID=32&ArticleID=11871&TM=70707.73
http://www.myrtlebeachonline.com/mld/myrtlebeachonline/news/nation/12517036.htm
Here in central Ohio, unleaded was at $2.59/gal. earlier today.

by Marie Smith 2005-08-30 05:58PM | 0 recs
I think the last time
I bought gas here in Los Angeles, it was $2.77 for regular. You'll probably be around $2.80 while we go up to, I dunno, eight bucks or something.

Whee . . .

by catastrophile 2005-08-30 06:05PM | 0 recs
LOL:

Getty Images
by catastrophile 2005-08-30 06:14PM | 0 recs

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