Back in the US winter of 1995-1996 there was a Government shutdown that was followed by a shocking bout of bad weather

Back in the US winter of 1995-1996 there was a Government shutdown that was followed by a shocking bout of bad weather. Records were set for snowfall, and those records still stand. The pundits at the time were beside themselves with warnings on the disastrous impact to the economy from this double-whammy. The result? There was no negative impact on retail sales from the snow or the government shut-down. The year on year figures were: November +4.6%; December +2.5% and January +4.0%. The month on month figures (which usually stink in January) showed an increase of 1.1% after an increase of 2.0% in December. At that time, the massive snowfall got honorable mention, but most of the talk was concern over the state of household balance sheets, which were 1/3 of what they are now. Blaming the snow isn't the brightest thing the pundits can do. (Source: East Shore Partners)