On Sunday, I gassed up my 1989 Volvo 740 for $2.69 a gallon–the good stuff–and moaned about high prices. Yesterday a friend IMed and told me to gas up before prices jumped 40 cents a gallon. Too late, $3.19 when my wife got the pumps. She paid more today, $3.49 a gallon, or a delightful 80-cent increase in just two days.
I predict the situation will get a lot worse. New Orleans is now the equivalent of a Biblical epic—disaster that will keep on going. The death, the destruction, the economic impact will be like another 9-11, except as an Act of God (Why should he get the blame, anyway?) rather than act of terrorism. Few weeks back, I blogged about the housing bubble. Katrina, that vicious bitch, put a hole in the bubble, I think.