The Washington Post today has a page one story on the effect of the economy by the Hurricane Katrina, saying that consumer spending fell .1% for the month, and stating that this is the lowest since 9/11. This may be true in a purely short term viewpoint, however, since the hurricane, there has been a housing boom in the southeast.
Consumer spending plunged in August at the steepest monthly rate since the 2001 terrorist attacks as Hurricane Katrina slashed incomes, fanned inflation and caused $170 billion in losses from property damage, the Commerce Department reported yesterday in its first tally of the storm’s economic effects.
With the necessary relocation of so many people, the property values of the rest of the southeast have been seeing a huge increase, as the housing supply is very low. That, combined with a huge speculation market in the affected areas, and the huge coming influx of federal and state relief dollars, will create a positive impact on the economy of the country.
The ability of the major media to project disaster at every turn, portray every statistic into a worst case scenario, and every positive occurance is the worst possible light is bordering upon the absurd. The tragedy in the Gulf region has been well documented, not something that is wished upon by anyone.
However, the measure of our country is how we respond to these instances. And the United States responds magnificently. As federal relief dollars pour in and the infrastructure is rebuilt, the economy of the gulf will rebound and improve. The Red Cross and other charities will provide the short term relief for those affected. Countless others through their community organizations and churches will provide other services needed.
We are a strong and wonderful society. We help other countries and ourselves without questions. If only the media would remember that this is a story and provide some positive reinforcement to the society. Instead, they nit pick and look for the worst possible news everyday. I truly believe that is the media presented America in positive terms we would achieve great heights.
But that can not happen until George Bush is out of the White House.