Thu, 01 Sep 2005

Katrina: a shock too many for economy?

Note what's missing from this article - not a word about this. Even though it promised to cut off consumer credit (and thereby consumer spending) when Katrina was just a swirling depression off the coast of West Africa.

All in all, it's just another brick in the wall.

Hurricane Katrina's second wave -- soaring gasoline and home-heating prices -- may be less deadly and destructive than the storm itself but poses much greater risks to the world's biggest economy. U.S. economic health is so dependent on keeping its increasingly indebted households shopping that another drain on their already-stretched budgets could batter the economy.

(link) [Yahoo! News: Top Stories]

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