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The cold weather cost the U.S. economy about $15 billion. Maybe
Market Watch ^ | June 25, 2014

Posted on 06/25/2014 9:02:10 AM PDT by Oldeconomybuyer

Now that the third revision to gross domestic product is in, we can make a back-of-the-envelope calculation of just how much the unusually cold winter cost the U.S. economy.

But obviously, the contraction wasn’t all weather. So, how much?

MarketWatch put that question to Gus Faucher-Wanker, senior economist at PNC.

“My sense is that, in terms of contraction, more than half was due to the weather. I don’t think it had much of an impact on trade, didn’t have much to do with government, but I do think [the weather impacted] the weaker consumer spending, the drag from inventories, and a lot of what we saw in construction activity,” he said. “I would say more than $15 billion.”

(Excerpt) Read more at blogs.marketwatch.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: failure; gdp; globalcooling; obamanomics; socialism

1 posted on 06/25/2014 9:02:10 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

All the more reason to embrace global warming.


2 posted on 06/25/2014 9:03:51 AM PDT by yobid (Don't pet the sweaty things)
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To: Oldeconomybuyer

Good thing global warming gave us a soft bounce huh?


3 posted on 06/25/2014 9:04:02 AM PDT by blackdog (There is no such thing as healing, only a balance between destructive and constructive forces.)
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To: Oldeconomybuyer

These calculations are bunk for many reasons, one of them being that most of them are already being budgeted in previous years because you know seasons and all...

It is like saying that Summer has costed you an extra 50 dollars because you kept track of all the ice cream you bought in the summer....

Besides Obama cost us a hell of a LOT more than ANY season of the year... PER SEASON...


4 posted on 06/25/2014 9:04:36 AM PDT by GraceG (No, My Initials are not A.B.)
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To: Oldeconomybuyer

Hahahahaha. Cold weather, yeah I’m sure. More like the Uniparty ushering in America’s demise.


5 posted on 06/25/2014 9:06:10 AM PDT by Viennacon (Rebuke the Repuke!)
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To: Oldeconomybuyer

Strange. Exports were down 11.4% but imports were UP 1.9%.

https://confoundedinterest.wordpress.com/2014/06/25/recovery-q1-real-gdp-plunges-to-2-9-biggest-decline-since-2008/


6 posted on 06/25/2014 9:06:12 AM PDT by MRourke85
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Comment #7 Removed by Moderator

To: Oldeconomybuyer

Canada grew at 1.5%?
So, Canada has milder winters?


8 posted on 06/25/2014 9:11:16 AM PDT by brownsfan (Behold, the power of government cheese.)
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To: Oldeconomybuyer
Poor Obama - Even the Weather Gods are out to get him.

Probably because he is black.


9 posted on 06/25/2014 9:14:48 AM PDT by Iron Munro (The Obamas' Black skin has morphed into Teflon thanks to the Obama Media)
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To: GraceG

“Obama cost us a hell of a LOT more than ANY season of the year...”

Ding ding ding!

We have a winner - no more calls, please.


10 posted on 06/25/2014 9:14:51 AM PDT by Jack Hammer
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To: Oldeconomybuyer
I read an article recently which showed that, for most of the last 100 years, the economy expanded in the winters. Even during the coldest on record -- '78-'79, IIRC -- the economy grew. The article also said this past winter was something like the 15-20th coldest on record, nowhere near the worst.

Of course, we FReepers and other conservatives know this, and have known it all along. The Sheeple, though, will hear the Obammunist lickspittle media repeat the lie often enough to believe it. Goebbels would be proud.

Scouts Out! Cavalry Ho!

11 posted on 06/25/2014 9:18:28 AM PDT by wku man (Veterans, it's up to us to save the Republic...let's roll.)
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To: Oldeconomybuyer

How does anyone arrive at that? Have we never had cold weather before? All BS and politically motivated.


12 posted on 06/25/2014 9:26:45 AM PDT by mulligan (I)
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To: brownsfan

“Canada grew at 1.5%?
So, Canada has milder winters?”

Great posting!


13 posted on 06/25/2014 9:28:55 AM PDT by I want the USA back (Media: completely irresponsible. Complicit in the destruction of this country.)
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To: Oldeconomybuyer

Well, that’s easy to fix!


14 posted on 06/25/2014 10:08:21 AM PDT by Tax-chick (Told 'em not to science those burgers too hard. ~ Darksheare)
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To: Oldeconomybuyer

So then global warming went away?


15 posted on 06/25/2014 11:09:06 AM PDT by I want the USA back (Media: completely irresponsible. Complicit in the destruction of this country.)
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To: Oldeconomybuyer
"The cold weather cost the U.S. economy" engine of recirculating debt "about $15 billion. Maybe"


16 posted on 06/25/2014 11:14:37 AM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: Oldeconomybuyer

Don’t people buy heating fuel during cold weather? Don’t unionized snowplow drivers make bundles during snowstorms? Don’t people go on grocery shopping sprees before storms approach? Doesn’t any of this activity count in the numbers?


17 posted on 06/25/2014 11:17:18 AM PDT by Cementjungle
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To: Oldeconomybuyer
"the drag from inventories"

Did somebody get suckered into thinking they were going to sell more?
18 posted on 06/25/2014 9:04:34 PM PDT by clearcarbon
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