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With 103 Mentions Of "Weather", It Is Time To Rename The 'Beige Book' To The 'Weather Book'
While overall the beige book was an absolute snoozer, almost as boring as Yellen's earlier appearance at the economic club of New York, and its core message were quite bullish, namely that:
- EIGHT OF 12 FED DISTRICTS SAY GROWTH `MODEST OR MODERATE'
- FED SAYS ECONOMIC GROWTH `INCREASED IN MOST REGIONS' OF U.S.
- FED SAYS LABOR MARKET CONDITIONS `MIXED BUT GENERALLY POSITIVE'
... confirming that the Beige Book contributors did not get the "ignore the dots" memo, the only "exciting" thing that everyone was looking for: what the Fed thought about the weather. Because with 103 instances of the word "weather" in the report (granted less than the 119 in February), it sure thought a lot.
Some examples:
- Consumer spending increased in most Districts, as weather conditions improved and foot traffic returned.
- Manufacturing improved in most Districts. Several Districts reported that the impact of winter weather was less severe than earlier this year.
- Demand for food production declined in the Boston, Richmond, and Dallas Districts; however the drop was primarily weather related.
- New York and Dallas reported especially strong increases. New York, Philadelphia, Cleveland, and Richmond cited the inclement weather as a factor reducing home sales and therefore mortgage borrowing.
- Agricultural reports were mixed, as weather disruptions delayed crop plantings and shipments of commodities.
- Retail sales in New York rebounded strongly from weather-depressed levels, while cold weather continued to hold down consumer spending in Cleveland.
- Sales of cars and light trucks picked up in recent weeks as the weather improved and consumer traffic returned to dealerships.
- Some contacts suggested that cold weather had decreased travel.
- The Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Kansas City, and Dallas Districts noted that lingering winter weather hampered business activity, but the impact was less severe than earlier this year.
- The Chicago District indicated that steel production recovered from a weather-related slowdown and capacity utilization returned to its expected levels.
The embarrassment continues in the full book (link). Luckily, there was only one case of "pig virus"
Full April beige book word cloud:
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So the 6 or so remaining viewers of CNBC can go ahead and switch over to The Weather Channel?
Whether the weather be fine,
Or whether the weather be not,
Whether the weather be cold,
Or whether the weather be hot,
We must blame the weather
To hold shit together,
Whether you like it or not!
~Janet
In other news, the Fed announced the hiring of Jim Cantori as a Senior Economic Analyst.
Maybe we can have big screens with sunshine on them to make everyone happy and buy FB stock?
pods
Careful now, you're confusing the stock market with the economy.
"mixed but generally positive"?
How about opaque, but generally dishonest?
What's this have to do with BTFD?
The Weather Girls could sing it better.
They only tell you what you want to hear.
It's raining cats and dogs...and it's all clear.
http://www.youtube.com/watch?v=4DwJvO1xs7E
~
***RIP: MCR
http://www.youtube.com/watch?v=UT5MY3C86bk
Is that fat old cunt telling us to BTFD or not????
Yellen - what the fuck???? Get off you ass and tell us!!!!!!!
YOU STUPID CUNT!!!!!!!!!!!!!!!
Until further notice, BTFD...
Unless you really think that monetary deflation is on its way...
Dear Fed,
Wherever you go, Always blame the Weather.
http://www.youtube.com/watch?v=0wat03h2ev0
I was thinking more along the lines of Stevie Ray Vaughan.
http://www.youtube.com/watch?v=nO23B5C_Mcw
Love the homey facts in the latest Fed Almanac.
Wait about 10-15 years if you think weather is overplayed now....
Of course this is assuming the FED is still around....
Sunny skies for the top 0.001% forever, for the rest of you, fuck off and die for all we care.
Boring is bullish!
Oh goodie...
California Drought/Polar Vortex Jet Stream Pattern Linked to Global WarmingSummarized very nicely here:
http://www.wunderground.com/blog/JeffMasters/comment.html?entrynum=2665
Here is the original paper (paywalled)
http://onlinelibrary.wiley.com/doi/10.1002/2014GL059748/abstract
The draught in question was caused by enviro-nuts and the EPA nazis shutting down the irregation ditches to save some stupid minnow.
it has nothing to do with the weather, nothing.
Again, the government bent on distroying our country, but now with a twist "it's all your fault!"
Climate is what you expect, weather is what you get.
Helluva rebuttal there, big boy....
One question, do you buy or rent your clown suit?
BTW, it is spelled drought....
I have been tracking the news for the past 30 days. Damn if there hasn't been WEATHER every day. I did a search and I cannot find a day in the past when there was no weather.