[McGavin999]

No, it's not. You see, the rest of the country will increase production of the construction materials that will be required to re-build. There will be thousands and thousands of construction jobs available, and as a result, thousands of support jobs available.

As for the actual cost of rebuilding, there will be a lot of tax dollars required, but that will just mean a diversion of funds previously set aside for foreign aid.

[Mr. Jeeves]

No, it's not. You see, the rest of the country will increase production of the construction materials that will be required to re-build.

That's the old "broken window" fallacy from basic economics: If you break a window it's good for the economy because the workman and the glassmaker get paid to replace it...so let's go break all the windows and really create a boom!

When I hear senior Fed officials (who certainly know better) making very similar assertions, I worry.

[SolarisRocks]

If hydrocarbon prices stay high everything that uses them will be more expensive. Don't forget that trains, ships and trucks all burn hydrocarbon fules and that chemical plants use hydrocarbons (mostly NG) as a feedstock.