Widespread Frustration over NYC, NJ Response to Sandy Devastation

(Reuters) - Four days after superstorm Sandy smashed into the U.S. Northeast, rescuers on Friday were still discovering the extent of the death and devastation in New York and the New Jersey shore, and anger mounted over gasoline shortages, power outages and waits for relief supplies.

The total killed in one of the biggest storms to hit the United States jumped by a third on Thursday, to 98. In New York City, 40 people have been found dead, half of them in Staten Island, which was overrun by a wall of water on Monday.

Among the dead in Staten Island were two brothers, aged 2 and 4, who were swept from their mother's arms after her car stalled in rising flood waters. Their bodies were found near each other in a marshy area on Thursday.

U.S. Secretary of Homeland Security Janet Napolitano and Federal Emergency Management Agency Deputy Administrator Richard Serino planned to visit Staten Island on Friday amid angry claims by some survivors that the borough had been ignored.

Read the rest of the story at Reuters.com.


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The past several months have seen the price of gold slump even as the Fed and other central banks have accelerated their massive expansion of paper money. Gold is off about 20% so far this year with silver down almost 30%. The old adage--“don’t fight the Fed”--particularly comes to mind now because the US equity markets have been setting new highs during this same period. All of these gains are nominal, you understand, but for terrified American policy makers and investors, nominal is just fine.

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