Skip to comments.Deep freeze puts $5 billion chill on economy
Posted on 01/08/2014 2:39:52 AM PST by Libloather
The record cold spell that has half the country in the deep freeze could cost the U.S. economy up to $5 billion.
That's because millions of Americans haven't been able to drive to work, fly or take a train to business meetings or vacations, go to the shopping mall or take the kids out for a movie and a meal. And they may also have to pay more just to keep warm.
(Excerpt) Read more at nbcnews.com ...
Stay at home and sign up for Husseincare. That should even things out.
Every time a tree falls in 2014, it will be a blow to this “recovering” economy. It certainly can’t be because health care costs for ObumblesCare are gouging U.S. citizens and keeping them from spending thousands of dollars in the economy.
It always absolutely amazes me that giant storms and hurricanes, even the size of Andrew, which destroy wide swathes of territory, seem to have essentially zero net effect on the economy. It is a testament to the amazing flexibility of the US economy (at least under normal conditions) that it can take such an enormous hit and shrug it off. And it relates to the ability of the insurance cos involved to hedge off much of their risk via reinsurance. My guess is that one man’s loss is another’s gain, in terms of how much replacement stuff get bought at Home Depots all over the affected territory. GDP doesn’t effectively measure the widespread heartache over losing one’s home....repeated hundreds of times. It *does* measure the people involved are bailing out their basements or piling their soggy furniture at the curb. (and in case that sounds callous, I’ve been through a flood and believe me, it can destroy your life) In the US economy, $5 billion is utterly nothing. It is a tad over one day’s borrowing for the US gov’t.
It was “unexpected”!
So true, but 4.9 b of it will be made up next week.
Typical NBC crap
But no surprising. I remember weather like this 30 or 40 years ago.
FINALLY! Something the left can blame the economy on. Has NOTHING to do with leftist disaster-ridden economic policy, destroying jobs and obamacare sucking all of the discretionary income out of the wallets of working Americans...no sir!
We have four wheel drive and a Taylor outdoor woodstove (new this year). Plenty O heat and no problem with transportation. I have never been warmer than with this stove. I guess all the mass transit socialists are probably suffering. They are getting paid to stay home anyway.
No, no that was done by obama and his communist agenda to destroy America. If anything... this cold weather will stop the bleeding because his gestapo cannot deliver the graft payments to his brown shirts due to ice.
Another welcome distraction for obonzo.
Wonder how detroit is faring any hope for them? Axle rod bumping loudly on matt laugher show today trying to shut the gate.
Every year in Central Florida, just like clockwork, it gets freezing cold for three days in January. And that’s the extent of our version of winter. And every year, just like clockwork, the strawberry farmers complain that the sudden, temporary cold snap will damage their crops and force them to raise their prices. Just in time for the Strawberry Festival in February, the biggest amusement fair event of the Central Florida tourist season. See how that works?
will this be the talking point on the weekend talkers?
Exactly...just when the economy WILL be showing signs of slowing down as people who are paying larger insurance premiums quit spending.
If cold is bad for the economy, then shouldn’t we be doing all we can to hurry “global warming”? Do it for the children if nothing else /s
I never understood why so many people huddle at home during cold weather. So it's cold outside. Put on gloves. Put on a hat. Put on a sweater under your overcoat. I can understand if it's -40 degrees with -85 windchill but if it's only zero, you can dress for it and be quite comfortable.
I work at a major retailer, and believe me, there’s been no slowing ....they get to the store no matter how bad the weather, how bad the temps — ESPECIALLY if school is out. Then they just bring all the kids.
People are NOT staying home ...they’re using all these school days as “fun” days. It’s a huge joke. Productivity at work is what we’re losing.
Fedzilla burns through $5 billion in less than 12 hours ...
It's really a boon to the economy, because every dollar spent on keeping warm turns into $1.7 dollars.
It's January 8th!
Who the Hell is taking a Vacation? We Just got off one~!
The World Doesn't Stop because it snows you know.
“Deep freeze puts $5 billion chill on economy”......
I’m afraid the “Deep Freeze” has been blamed instead of the REAL reason our economy is in trouble. The real reason is ODUMBO and his lack of policies that would resolve the mess he and his ilk have dumped on this once great nation.
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