I was just telling one of the psychologists in our building today that
economic conditions are incredibly similar to those right before the 1929 stock market crash. "There are safeguards in place today to keep the market from
such a catastrophe, but still it's a volatile situation."
The economy is already feeling a surge in Katrina's wake. Coffee, sugar prices up. Meanwhile, the prices of our exports (like that bumper crop of corn up in the Heartland) will drop because it will cost so much get to ports other than the Gulf.
Some places in the U.S. are already seeing $6 for gas.
This dwarfs 9/11. And we can't blame anyone. As they say in the insurance business, it's an act of God.
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