What was just a troubling oil spill a week ago is now, according to Interior Secretary Salazar, "potentially...very catastrophic." In other words, it's much worse than we thought. Has there ever been a crisis in the last decade that turned out to be better than we thought it was going to be? Iraq, Afghanistan, Katrina, the housing bubble, the foreclosure and unemployment crises -- all much worse than we thought they would be.
Tuesday, May 4, 2010
Yet Another Catastrosphe