By now everyone knows that a $17 trillion economy has no greater nemesis than snow… in the winter… which in the first quarter of 2014 managed to lob off some $50 billion in growth from the world’s largest economy, and instead of allowing the US to expand at its priced to ultraperfection 3.0% rate, resulted in a screeching halt in growth.
But did you know that the one thing that the economy of the centrally-planned world can’t stand more than cold is… heat.
That is what Italians found out today when they read daily publication Ansa which “explained” that March industrial production declined by 0.5% because, drum roll, “summer came early this year.”
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And just like that the voodoo science of economic has become the laughing stock of weathermen the world over (everyone else has already been laughing at economists for years, not with).
h/t @kristian_gjoka
via Zero Hedge http://ift.tt/1m7zboR Tyler Durden