Watching coverage of the Hurricane this morning and what's going UNDER reported in all the hysteria behind the high water rescues is what this will do to the American economy.
How do you extract money out of the pockets of every swinging dick and ovary in the US?
You go after essentials.
How do govts make money? They go after essentials.
Fuel...energy...is such an essential and while this event was totally unplanned, it will provide an opportunity for oil corporations AND the govt to make a god awful amount of money.
Despite all common sense the US has a sizable portion of its gas production facilities located in a coastal city that is in an area prone to storms. Additionally the timing couldn't be worse for the consumer. Gas producers are about to switch over to the idiotic "winter" blend which will take additional plants offline.
Consider it a one two whammy.
Gas production will ground to a halt for at least a month or more and oil rigs are all shut down.
The stock market will roar later today. The public is about to see at least $2.50... probably much higher a gallon gas and govt tax collection will see a spike.
The pain in Houston is about to spread. Get ready for sticker shock when you go to refill your truck. If that isn't bad enough you're gonna see it across the line, most notably in food prices. Expenses are pushed forward so increased costs to harvest and deliver food will be passed to the consumer.
This could crash the economy. We're already teetering and this could be the event to do it.
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