Markets focus has been on the damage the storm may have done
to the LA petrol/gas complex. However, this storm could easily
wreak havoc in up to seven or eight states before it settles
down and begins to dissipate. Flooding, structural damage and
power outages will do severe damage to small and local businesses
from the tip of LA right up the midsection of the country through
TN. Homelessness will surge temporarily and job and business
losses and downtime could last many weeks. The breadth of the
storm and rainfall amounts are alarming. The losses sustained
here will have quite an impact on the economy.
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