Well, it is now Tuesday morning and I have been watching the reports on the damage caused by hurricane Katrina. I've seen several analyst on the financial channels talking about how long term this storm is not going to cause significant problems and might actually help some companies. I do not think so! Living in Atlanta you get a pretty good spot from which to watch the hurricane season unfold, and you do pay attention to them, particularly if you like to spend your Sunday afternoons on the lake as I do. This hurricane did not go and hit some beach community populated by rental condos and real estate agents. This hurricane nailed an especially vulnerable city and one of the major transportation lifelines for this country. I fear that this is going to have a major disruptive effect on things for some time to come. Even worse for New Orleans, as the weather map below shows, it is continuing to rain in the Ohio River Valley, which drains into the Mississippi river. All this water will flow downstream and keep the water level rising in New Orleans for several days to come. I doubt anyone honestly knows how long it will be before serious repairs can begin, the dikes can be repaired and the city can be pumped dry. Only time will tell.