Gustav: No Katrina Killer

Hyped for a solid week by the MSM, Hurricane Gustav, currently making landfall in SW Louisiana en route to blowing itself out on the Louisiana-Texas border, will not:

• destroy the remainder of New Orleans
• destroy America's oil refining capacity not to mention all its ill-advised oil wells in the Gulf of Mexico
• prove even more ineptitude on the part of the outgoing Bushitler Regime
• make Bobby Jindal (R-LA) Louisiana's latest one-term governor
• completely obliterate the Republican Convention in Minneapolis
• assure the Democrats' complete dominance of Washington next January 20

To be sure, there's going to be some damage near the storm's landfall and probably considerable collateral damage whereever its path takes it next. But we predict minimal refinery disruption, minimal oil platform destruction, and minimal economic consequences when compared to the Katrina disaster. So the Dems will be hard-pressed to push their usual anti-Bush narrative lines, and oil will continue to fall further in price, as characterized by the current $4 per barrel drop in today's futures trading which is still open even though it's a Federal holiday. (Other markets are open across the globe.)

We took some contrarian bets last week in the market and are looking forward to collecting on them Tuesday morning when trading resumes, Wednesday at the latest just in case the Bears (the stock market ones) return en masse from the Hamptons tomorrow morning to resume their illegal short raids on anything (like the financials) that they need to go down.

Am a weather genius or something? Nope. I just know that when I see 100% media hype of a "developing story" (It's Gustav! We're all going to die!!), it's time to place your bets at the precise opposite end of the Party Line.

Again, sure, there'll be damage, and maybe a little more than I think right now. But disruptions will be minimal and the sun will come out tomorrow. Or the next day. And it will shine on Republicans like Bobby Jindal who took every precaution. And the McCain-Palin ticket which had the good sense to effectively suspend their coming out party in deference to the plight of a lot of people they hope to represent next January. Contrarianism, coupled with common sense, still takes you pretty far these days.

Remember that the next time the media hypes a tired narrative that has little if any truth in it.