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 <div class="pubdate" itemprop="datePublished">August 28, 2017 at 16:53 PM EDT</div>
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 <div class="title" itemprop="name">Hurricane Harvey as a mini-stress test</div>

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<span></span><span><i>Q: What's George W. Bush position on Roe vs. Wade?</i><br/><i>A: He doesn't care how people get out of New Orleans after Katrina.</i><br/><center class="bodyad">
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 </center><i><br/></i> <i>- Joke that circulated in the aftermath of Hurricane Kartina</i><br/><br/><br/>There are many stories coming out in the wake of Hurricane Harvey that hit Texas. I was most struck by this <a href="http://www.bbc.com/news/world-us-canada-41065335" rel="nofollow" target="_blank">BBC account</a> of the woman who was too poor to evacuate from her mobile home:<br/><br/><br/><span><a href="https://3.bp.blogspot.com/-2oLYVpHzau0/WaNu5QumC0I/AAAAAAAAYaI/Tp1AxS9rc-cicXtxjk-1fToOxHMvYkQZgCLcBGAs/s1600/Judie%2BMcRae.jpg" imageanchor="1" rel="nofollow" target="_blank"><img border="0" data-original-height="408" data-original-width="635" height="255" src="https://3.bp.blogspot.com/-2oLYVpHzau0/WaNu5QumC0I/AAAAAAAAYaI/Tp1AxS9rc-cicXtxjk-1fToOxHMvYkQZgCLcBGAs/s400/Judie%2BMcRae.jpg" width="400"/></a></span><br/><span>Judie stayed, she tells me, because she had no means to leave and no place to go.<br/><br/>"I had some problems getting out of town, a little broke and stuff, so I had to come home and, you know, tough it out," she says. "We're all the working class people.<br/><br/>"We're the ones who go to the restaurants and wait on you and pick up your trash and do all that work. We don't have a lot of money." <br/><br/>"Fighting for the American dream," she adds, with a rueful laugh.</span>Hurricane Harvey may prove to be a significant stress test for both the American economy and the Federal Reserve. A recent <a href="http://www.bankrate.com/finance/consumer-index/money-pulse-0117.aspx" rel="nofollow" target="_blank">Bankrate survey</a> indicated that only roughly 4 in 10 Americans have sufficient savings to cope in an emergency, which is indicative of the low margin of financial error that the household sector operates under.<br/><br/><span><a href="https://4.bp.blogspot.com/-7R9TsFmUlVM/WaNK86iPEfI/AAAAAAAAYZ0/jgjyF-mPt-glBeiuZajRXB311PkrcCCHQCLcBGAs/s1600/money-pulse-jan-2017.png" imageanchor="1" rel="nofollow" target="_blank"><img border="0" data-original-height="846" data-original-width="816" height="400" src="https://4.bp.blogspot.com/-7R9TsFmUlVM/WaNK86iPEfI/AAAAAAAAYZ0/jgjyF-mPt-glBeiuZajRXB311PkrcCCHQCLcBGAs/s400/money-pulse-jan-2017.png" width="385"/></a></span><br/><br/>The full post can be found at our new site <a href="https://humblestudentofthemarkets.com/2017/08/28/hurricane-harvey-as-a-mini-stress-test/" rel="nofollow" target="_blank">here</a>.<br/><br/><img alt="" height="1" src="http://feeds.feedburner.com/~r/blogspot/SeoDJ/~4/4K7tBG0z8nI" width="1"/></span>  </div>
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