The logic of bad governance
the federal government's lethal ineptitude wasn't just a consequence of Mr. Bush's personal inadequacy; it was a consequence of ideological hostility to the very idea of using government to serve the public good. For 25 years the right has been denigrating the public sector, telling us that government is always the problem, not the solution. Why should we be surprised that when we needed a government solution, it wasn't forthcoming?So by proving that government doesn't work, has Mr. Bush furthered his rapturous agenda, or Cheney's?
Some investors believe Katrina will hold the stock market back, as rising oil prices and shipping disruptions hurt corporate profits and economic growth. Others think Katrina actually could help stocks in the longer term, since the rebuilding effort eventually should spur consumption and investment in new equipment. They also see the Fed, at least temporarily, supporting the economy by suspending its campaign of interest-rate increases. WSJ"this is working very well."
"It feels like the only things left in south Louisiana are snakes and alligators," said John Olson, co-manager of Houston Energy Partners, a hedge fund that operates out of a skyscraper downtown. "Houston is positioned for a boom."