And Winter Came!

Want proof that maybe just maybe winter weather has played a role on slower than expected economic growth this winter?   Then I give you Chicago.  The National Weather Service says that Chicago just booked it's coldest four month period,   EVER!  Temperature records for the December-March period go back to 1872.  We shattered the old record set in 1903-1904 by 3 tenths of a degree.  Other cities east of the Mississippi have to be in a similar boat.  Nobody did anything here for three months.  Nobody bought cars, went to the mall or looked for a house.  Now some economic activity doesn't get made up.  You don't make up going to the movies or going out to dinner.  But most demand is simply demand that's been put off.  I think that things like car sales and consumer purchases will be much higher this spring than most investors expect.  I think we'll add a few basis points on to GDP because of this as well.  I don't think this is priced into stocks.  

Not saying that stocks will go up but I do think investors simply aren't pricing this into the equation.  Time will tell.