Let's leave aside the immediate cost of damage, an estimated $25 billion in insured property and $16 billion in uninsured property. Let's ignore the fact that several million people are temporarily displaced and suddenly unemployed.
What will be the long term consequences of the storm.
First, there's the shut down oil production. It's sending gas prices spiking. It will increase the cost of transporting everything, like food, for example.
Rebuilding is going to kill the housing boom, as demand for building materials and construction crews in the affected areas is going to explode.
Port shipping in other areas will increase. Ft. Lauderdale already expects to pick up the banana shipments that used to go through Biloxi.
Agriculture in the effected areas is likely to be completely disrupted. I imagine cotton will become more expensive.
What other effects do you see?
What will be the long term consequences of the storm.
First, there's the shut down oil production. It's sending gas prices spiking. It will increase the cost of transporting everything, like food, for example.
Rebuilding is going to kill the housing boom, as demand for building materials and construction crews in the affected areas is going to explode.
Port shipping in other areas will increase. Ft. Lauderdale already expects to pick up the banana shipments that used to go through Biloxi.
Agriculture in the effected areas is likely to be completely disrupted. I imagine cotton will become more expensive.
What other effects do you see?
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