1) referring to a total disaster, akin to the 2005 hurricane that destroyed New Orleans. Generally NOT politically correct.
2) An unforseeable disaster- something that was considered, but deemed unlikely
1) You crashed your dad's benz? he doesn't know you borrowed it? Oh man, what a katrina!
2) I thought you turned off the gas! The house blew up! This is totally katrina!
Prices shown in USD.
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