Hurricane Irene to deliver blow to economy (It Starts)

MSNBC ^ | 8/27/11 | ELLEN GIBSON

[luvbach1]

Hurricane Irene will be Obama's next excuse for the rotten U.S. economy.

Another poor excuse: It's been a boon to stores like Walmart, Home Depot, etc, their shelves being emptied of water, canned goods, batteries, flashlights, and generators, as well as there being a run on gasoline.

[LyinLibs]

“a hurricane should help the economy? A homeowner or business will have to get repairs made, which would entail purchases being made, resulting in more sales to businesses.”

You have fallen prey to the Broken Window Fallacy.

Google it + watch the video(s).

[fhayek]

If Krugman thinks that a natural disaster would be great for the economy, wouldn’t global warming really create an economic boom? After all, we are told that there are no bigger natural disasters than global warming (apart from an asteroid hitting the earth, I guess).

[Iron Munro]

I’m just waiting for Mr. Obama to blame former President Bush for the Hurricane

I lay most of the blame for that on Karl Rove.

[newzjunkey]

Of course! And Irene was already a Cat 1 when this piece was published. Now, at 80mph winds, it's barely above a tropical storm.

This is further amplified by the media's obsession with all things East Coast since it's their backyard.

[elpadre]

it appears to me that Irene will cause a spike in employment as repair and cleanup crews are hired, building material companies will get a boost, etc.

[Tim n Texas]

A reported in Atlantic City said casinos, restaurants, and other local buisnesses will lose over $30M per night because of the forced closer. No to mention the cost of damages which have yet to be determined.

That’s not a stimulus.