James Howard Kunstler posits all sorts of dire after effects from Hurricane Harvey, none of which seem implausible. From Kunstler at kunstler.com:
It remains to be seen what the impact will be from Mother Nature putting the nation’s fourth largest city out-of-business. And for how long? It’s possible that Houston will never entirely recover from Hurricane Harvey. The event may exceed the physical damage that Hurricane Katrina did to New Orleans. It may bankrupt large insurance companies and dramatically raise the risk of doing business anywhere along the Gulf and Atlantic coasts of the USA — or at least erase the perceived guarantee that losses are recoverable. It may even turn out to be the black swan that reveals the hyper-fragility of a US-driven financial system.
Houston also happens to be the center of the US oil industry. Offices can be moved elsewhere, of course, but not so easily the…
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