On a brighter note (and God knows they need one) about the after math of Katrina.
I am not in construction in any form or fashion. I still sit in awe by what I am seeing on CNN the devistation and suffering.
I am listening to the "experts" some predict the USA will now go into a recession because of Katrina. One said any boom in re-building will be local to the affected areas.
I don' think they are right. It would look to me like re-building all of the affected areas will create jobs, increase the demand for everything in construction. Hence helping the economy. It also sounds like they are going to re-build the places. Would there not be an influx of trades people as well to help but not move there? I also wonder would the states relax the certifications you all hold for license requirements?
Of course the real deal killer is petro. It will take massive amounts for all the efforts.
The big challenge for N.O. and the gulf cities hit hardest by the storm is the loss of infrastructure. Many people can't return to rebuild until they have somewhere to go to earn a paycheck. Roads, power, water, sewer, buildings...all that and more has to be restored to make the cities livable and productive again.
I think the economy will take a hit but it will plod on, just as it has since 9-11. The rebuilding effort will help, IMO, but there will have to be a gigantic influx of capital that may amount to a significant loss before people can return, establish/re-establish businesses, homes, churches, stores, etc. The amount of damage to the area's infrastructure is, to make an understatement, massive.
In my opinion, the economy will boom in all sorts of areas, but just not any time soon. It will take a while just to get things back to where something can be done, ie roads, power, water and sewer. Once these things are back and people are done trying to get their money out of the insurance companies (going to be a real nightmare) then the rebuilding can start. A lot of companies and individuals who are struggling in other parts of the country will be able to come and work and hopefully make some money. Unfortuneately there will be a lot of scam artist coming too. Now the areas being rebuilt may not be the same as they once were, maybe they can be different and better.
The show I watched said
the ocean is 1° warmer. Something it just does every 30-40 years. Makes the conditions for hurricanes that much more perfect. They say were gonna get a bunch of big ones in the coming years. Odds are good for more this year.