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Post by glennkoks on Sept 10, 2014 2:28:25 GMT
After a few revisions by the number crunchers it seems the U.S. economy shrunk by 2.1 % in the first quarter of the year. This unexpected drop was attributed almost exclusively to the severe winter weather. Just how much more damaging could that have been to the worldwide economy if last years winter was more widespread and effected Europe and Asia? I have yet to a mild winter have a negative effect on GDP.  |
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Post by Ratty on Sept 10, 2014 7:40:53 GMT
A lesson to be learned, perhaps?
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Post by nonentropic on Sept 10, 2014 8:36:57 GMT
A large proportion of the drop was driven by delayed expenditure. The GDP impact of higher food prices due to a fall in production will likely be small but not evenly distributed.
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Post by cuttydyer on Sept 10, 2014 11:46:54 GMT
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Post by glennkoks on Sept 10, 2014 16:37:42 GMT
A large proportion of the drop was driven by delayed expenditure. The GDP impact of higher food prices due to a fall in production will likely be small but not evenly distributed. Some of the drop was clearly delayed and made up later. Buying a pair of shoes can wait, the consumer is still going to buy the shoes when the weather warms up and it's safe to go back outside. Some of it will not be made up. Restaurant's can't make up a slow night caused by weather. Construction workers can't really make up lost days on the job etc... In short some of the GDP will be made up when it warms up some of it is lost and cannot be made up. |
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Post by nonentropic on Sept 10, 2014 18:51:39 GMT
The point is that cold places can perform economically just fine and there is no evidence that warmth is associated with growth.
Personally I prefer a warm temperate climate and if you look around the world the world has seen a flight of both people and economic activity to the sunbelts.
One observation I would make is that the commercialization of refrigeration and air conditioning is the driver. We need to realize that a well connected world that cools (or warms) will still feed itself but the farmers will grow different stuff, no need to jump out the windows.
The common denominator to all adaption is reliable cost effective energy and it is here that we are weak.
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Post by glennkoks on Sept 11, 2014 2:19:39 GMT
The point is that cold places can perform economically just fine and there is no evidence that warmth is associated with growth. Personally I prefer a warm temperate climate and if you look around the world the world has seen a flight of both people and economic activity to the sunbelts. One observation I would make is that the commercialization of refrigeration and air conditioning is the driver. We need to realize that a well connected world that cools (or warms) will still feed itself but the farmers will grow different stuff, no need to jump out the windows. The common denominator to all adaption is reliable cost effective energy and it is here that we are weak. Cold places can most certainly perform economically just fine. It's warm temperate climates unprepared for the cold that have the most trouble dealing with it. |
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