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Listen to University of Pennsylvania economist Justin Wolfers:

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Category: Economy

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2 Responses to “Is The Weather Helping The Economy?”

  1. tsetsaf says:

    I caught a few minutes of the Bristol NASCAR race on Fox over the weekend. As a passive observer the only reason I tuned in was because this race is the grand daddy of all short tracks and is normally a huge redneck party. I was dismayed to notice that the grandstands were maybe 1/2 to 2/3 full! This track used to sell out completely months in advance. They had great weather for the weekend but the low middle to middle class demo does not seem to be spending.

    There is a serious disconnect between the FED pumped markets and the real world. Until this difference is corrected we will continue to see markets completely out of tune with reality. IMO the out of whack markets are a leading influencer of the recovery indicators.

    In other news WSJ is reporting that Fannie Mae has given the green light to mass sales of foreclosed properties to Wall Street funds. So maybe the rosy weather is helping the upper echelons to spend their cash; albeit at much better rates of return than normal folk.

  2. rktbrkr says:

    Maybe not so good for ski resorts but otherwise great for those with serious heating bills in the north, they’ve got extra disposable income to pay for gasoline! For homebuilders in the north it was a year without a winter, nobody has any excuses to be behind schedule!