Heavy economic hit from 'Australia's Katrina' | CNN.com

The floodwaters sweeping across the state of Queensland in Australia are also soaking one of the few economic success stories in the developed world since the Great Recession.

It is said that this is an order of magnitude worse for Australia than (Hurricane) Katrina was for the U.S. Hurricane Katrina, one of the strongest Atlantic storms on record, wrecked havoc on New Orleans and surrounding areas of the U.S. in August 2005.

How you can help :: Make a donation to the Australian Red Cross at redcross.org.au

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