Remember all those articles last year about how ski resorts were going to go bankrupt, and that folks with vacation homes near such areas were going to take a bath as global warming significantly reduced snowfall levels?
Well, ski enthusiasts and investors around the country should rest assured that this media hype was just as accurate as all those hurricane forecasts in 2006 and 2007.
In fact, much as what has occurred in Wisconsin this year, parts of New England have experienced more snow than ever in history as reported by USA Today late Wednesday evening (emphasis added, h/t ICECAP's Joe D'Aleo):
Another snowstorm swept across New England on Wednesday, toppling seasonal snowfall records and dumping so much heavy snow on buildings that some collapsed under the weight.
[...]In Vermont, Burlington's 7.6 inches pushed the official snowfall past the February record of 34.3 inches and the winter record from December, January and February of 96.9 inches.
Around a foot of snow had fallen in parts of Vermont and New Hampshire.
Concord already had set a record for the snowiest December, January and February, and the storm pushed the total for the three months to 97.5 inches. For the entire snow season, Concord has seen 99.6 inches, off the record of 122 inches, set in the winter of 1873-74, but still enough to make it the 10th snowiest winter on record.
In northern Maine, Caribou had seen 144.5 inches this season as of Wednesday morning, putting it on pace to break the record of 181.1 for the entire season, said National Weather Service meteorologist Mark Turner.
There's so much snow that Ski Press World issued the following press release Wednesday (emphasis added):
The abundant snowfall that has blanketed Vermont's ski areas all season has continued at a record-breaking pace with snowfall totals that have already shattered the 50-year-old mark for the snowiest February in Vermont's history.
As D'Aleo reported:
Central New England too has been snowy. Concord, New Hampshire also has now exceeded 100 inches for the season with another light snow event last night. Official amounts will be available later today. They are closing in on the all-time record of 122 set in 1874. In this New Hampshire Public Radio story, they report the heavy snow is causing problems for many New Hampshire towns and cities.
Will a global warming obsessed media be focusing a lot of attention on this record snowfall? Not likely.
However, maybe more important for folks around the country to understand is that the axiom of professional investors is that by the time press members and the majority of the population recognize a trend, it's probably over.
This is called contrarian analysis, and the premise is that the herd is always wrong, and when enough people begin believing that stocks are going to keep going up, it's time to sell.
As it relates to global warming, it should be no surprise that the peak in hysteria -- certainly set off by Nobel Laureate Al Gore's "An Inconvenient Truth" and Hurricane Katrina -- came close to this cycle's warmest temperatures being recorded. This is typical, and to be expected given the herd mentality of the press and the public.
Now that we have had two straight years of below average hurricane totals -- despite the hysterical forecasts! -- and the appearance of a well-predicted cooling trend associated with solar cycles, one has to wonder when the media will start actively reporting warming's end.
Or, will they just call it climate change, and no matter what happens from this point forward, it's all man's fall and NOT Mother Nature's?
*****Update: NB reader Darrel La Dra sends pictures from Watertown, NY, where some areas had 146 inches of snow in two weeks: