T Nation

New Orleans =The New 'Dustbowl'?


#1

With 4 years of increasing poverty, declining incomes, a real estate bubble, soaring gasoline prices, and a national debt that is incomprehensible, is it possible that this is the beginning of the next Great Depression? Could the people of New Orleans be like the people fleeing from the Dustbowl in the 1930's, fleeing anywhere just to get away from where they were? It certainly looks ominous! Thoughts, anyone?


#2

I think we've put some safe guards in place since the 1930's... I think they lower the interest rate if there's inflation or a recession or the raise it if things are going the other way. Also, the market's pretty cylical so it'll probably be looking like 1998 in a few years. If a depression didn't come after 9/11 when one market was shut down and there was panic, I don't think a hurricane will do it. I might be wrong, I've yet to take economics :stuck_out_tongue:


#3

I don?t think you will have to worry about the property value plummeting too much. That is hot real estate. I wouldn?t mind going down to see what kind of deals will happen.


#4

After they fix the levees, pump all the water out of New Orleans and then rebuild they will probably be safe for another 50 years until it happens again.


#5

I hope they rebuild right. They could learn from Amsterdam and their levy/ sea wall system. It's state of the art and will keep them save for a hundred years or more. So far no storm has been able to penetrate ot or even endager it. I feel we should have had a better system then them even.