In response to this morning’s Polar Vortex discussion, a friend sends this in:

 

Why Are Wall Street Economists Paid Millions Of Dollars?
The answer: to be horrible weathermen.

 

Lavorgna weather
Source: Zero Hedge
 

Category: Humor, Psychology, Really, really bad calls

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “Blame it on the Weather . . .”

  1. Petey Wheatstraw says:

    It’s a rare meteorological event — an Ill Wind storm. Watch out for the microbursts.

  2. johnl says:

    And I thought that was what seasonal adjustments were all about……silly me.
    Suppose we need to have seasonally adjusted seasonal adjustments???

  3. Futuredome says:

    Hate to tell you this Barry, but a couple of weather models are showing a doozy of a snowstorm next week.

  4. nofoulsontheplayground says:

    Meanwhile, we are seeing many commodities popping the past 2-months. Coffee is up about 90%, pork is up almost 50% YOY, OJ is moving up, Cocoa is up about 40% YOY, Milk is up almost 30% YOY, Oats are up 50% in 2-months, and corn, wheat, and soybeans all seem to have found bottoms and rallied since last month.

    While this is likely not a 2008 scenario we’re seeing, it does appear hot money is finding its way into commodities once again.

    When combined with the drought in the west, consumer food prices could be moving up sharply in the 3rd and 4th quarter of this year. While the Fed likes to use core CPI, consumers with flat incomes may be struggling against this rising tide later this year. Add in higher fuel and utility bills, and it could hit consumer discretionary purchases harder than we’ve seen in a few years.

    • LeftCoastIndependent says:

      Typical Americans, who think the only weather that matters in the global warming debate is the weather over the USA. Especially over the northeast. Else where, worst drought and highest temps. in Brazil in 47 years going on now. Coffee anyone ?

  5. willid3 says:

    guess its better to blame the weather than uncertainty?i

  6. b_thunder says:

    Why the weather is never the cause of out-performance, but is always blamed for under-performance?

    Looking at all these tweets, two things come to mind. First is the movie “Groundhog Day.” Second, it makes me think that on the subject of usefulness and “added value” by the Wall St. economists, Nassim Taleb might actually be correct!

  7. intlacct says:

    “Why the weather is never the cause of out-performance, but is always blamed for under-performance?”

    Similarly, why executive comp should be tied to the S&P: at a minimum your leadership should provide something better than the outcome of a coin flip.