Judging by the explosion in jobless claims in Texas, it appears a 'natural disaster' is a bigger problem than a 'man-made' one...

We suspect this is not the "net positive" outcome that Fed officials believe Harvey to be...

 

Interestingly - this morning's massive spike in shelter cost inflation was driven by the biggest jump in Shelter costs in Texas!!

Which presumably makes sense amid the destruction of so many homes (supply).

Let's just hope - for Texas-sake - this is transitory too.