Brian Rosenthal's Weblog

What a terrible disaster. Hurricane Katrina hit Mississippi more directly than New Orleans, but the levies broke protecting the city of New Orleans, which lies below sea level, from Lake Ponchotrain, which flooded the entire city.

CNN’s coverage

Washington Mutual is offering 4% CD rates which means they think that interest rates are going up, which means they think we’re headed for inflation.

I think it’s time to buy gold.

I don’t understand why people keep saying that the destruction of the casinos in Mississippi will hurt the economy in the South. Yes, the state won’t collect taxes there, but the residents also won’t lose the money, and the people of Alabama and Louisiana and Georgia who would have traveled to Mississippi won’t lose their money either.

Honestly, I bet the economy of Mississippi would be helped in the longterm if this destroys the casinos, but it won’t, because they’ll rebuild them, just like they always do.