Recession has already started in some US states

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jamesbond
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Recession has already started in some US states

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As economists size up the chances of the first nationwide slump since 2009, pockets of the country are already contracting. Four states -- Alaska, North Dakota, West Virginia and Wyoming -- are in a recession, and three others are at risk of prolonged declines, according to indexes of state economic performance tracked by Moody’s Analytics.

The regions suffering the most are in the flop stage of the energy industry’s boom-to-bust cycle, and manufacturing-dependent areas hurt by a rising dollar are at risk of receding. Whether the weak links break the entire U.S. economy will hinge largely on a group that’s benefited from the energy price collapse: American consumers.

“The impetus for weakening regional economies is the huge fall in energy prices and other commodities prices, which is taking a tremendous toll,” said Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York, who is concerned of a broadening into a national recession. “If the consumer were to falter for any reason, that would be a big problem.”

Job gains and losses are key factors that the National Bureau of Economic Research uses to chart U.S. expansions and recessions. Even as U.S. employers added 2.7 million workers in 2015, job cuts last year totaled 18,800 in North Dakota, 11,800 in West Virginia and 6,400 in Wyoming, according to the U.S. Labor Department.

The common thread? They all have concentrations of energy companies. A 72 percent plunge in crude oil prices since a peak in June 2014 has led to lower production and firings.
seven of the 50 U.S. states have had downturns in economic activity over the final three months of last year, according to tracking by the Philadelphia Fed.

Louisiana, New Mexico and Oklahoma are all at risk of recession, according to Moody’s. Wyoming and North Dakota’s economies have declined for at least the past 10 months, according to the Philadelphia Fed.

The median probability for a U.S. recession in the next 12 months jumped to 20 percent in a Bloomberg survey of economists this month, the highest since February 2013.



http://www.bloomberg.com/news/articles/ ... to-wyoming
"When I think about the idea of getting involved with an American woman, I don't know if I should laugh .............. or vomit!"

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Adama
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Re: Recession has already started in some US states

Post by Adama »

The thing is this. The USA and their vassal states are at war with mother Russia. Russia is a gas and oil country and they are large parts of her economy. Now the West is trying to crush Russia by lowering the price of oil. You see, Saudi Arabia is directly manipulating the price. They almost admit this.

They do not care about economies, jobs, lives or families. This is a geopolitical issue of who gets to control the world. Will it be the Russians, or will it be Israel and the West?
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Moretorque
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Re: Recession has already started in some US states

Post by Moretorque »

Adama wrote:The thing is this. The USA and their vassal states are at war with mother Russia. Russia is a gas and oil country and they are large parts of her economy. Now the West is trying to crush Russia by lowering the price of oil. You see, Saudi Arabia is directly manipulating the price. They almost admit this.

They do not care about economies, jobs, lives or families. This is a geopolitical issue of who gets to control the world. Will it be the Russians, or will it be Israel and the West?
Adama who created Israel ? who set this economic model up world wide ? our constitution states only congress will coin money, who is coining our money ?
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HouseMD
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Re: Recession has already started in some US states

Post by HouseMD »

Moretorque wrote:
Adama wrote:The thing is this. The USA and their vassal states are at war with mother Russia. Russia is a gas and oil country and they are large parts of her economy. Now the West is trying to crush Russia by lowering the price of oil. You see, Saudi Arabia is directly manipulating the price. They almost admit this.

They do not care about economies, jobs, lives or families. This is a geopolitical issue of who gets to control the world. Will it be the Russians, or will it be Israel and the West?
Adama who created Israel ? who set this economic model up world wide ? our constitution states only congress will coin money, who is coining our money ?
He also totally neglects the fact the the biggest reason SA increased output was to put American fracking companies out of business and keep us dependent upon foreign oil, but whatever...
Moretorque
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Re: Recession has already started in some US states

Post by Moretorque »

HouseMD wrote:
Moretorque wrote:
Adama wrote:The thing is this. The USA and their vassal states are at war with mother Russia. Russia is a gas and oil country and they are large parts of her economy. Now the West is trying to crush Russia by lowering the price of oil. You see, Saudi Arabia is directly manipulating the price. They almost admit this.

They do not care about economies, jobs, lives or families. This is a geopolitical issue of who gets to control the world. Will it be the Russians, or will it be Israel and the West?
Adama who created Israel ? who set this economic model up world wide ? our constitution states only congress will coin money, who is coining our money ?
He also totally neglects the fact the the biggest reason SA increased output was to put American fracking companies out of business and keep us dependent upon foreign oil, but whatever...
Well Mr. Well Endowed, who were the first people to drill in Saudi Arabia ? do not kid yourself, all this goes back to WW 1 and WW 2. Go study who created all these countries in the middle east as we know them today. Everybody is expected to follow the treaties of their conquerer's or else. Not to say some plans may go astray and need to be recalibrated to meet the end goal of total world domination by the ruling elite.
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Re: Recession has already started in some US states

Post by Slick »

Ghost wrote:I didn't know the old recession(s) ever ended...
Hasn't the U.S. ever recovered from 2008/2009?
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jamesbond
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Re: Recession has already started in some US states

Post by jamesbond »

Slick wrote:
Ghost wrote:I didn't know the old recession(s) ever ended...
Hasn't the U.S. ever recovered from 2008/2009?
No, we haven't fully recovered from the brutal recession that actually started in December of 2007 and "supposedly" ended in June of 2009. :roll:

I heard a report on the news recently that this "recovery" is the slowest recovery in US history. It's even slower than the recovery after the great depression! :shock:
"When I think about the idea of getting involved with an American woman, I don't know if I should laugh .............. or vomit!"

"Trying to meet women in America is like trying to decipher Egyptian hieroglyphics."
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jamesbond
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Re: Recession has already started in some US states

Post by jamesbond »

Ghost wrote:
Slick wrote:
Ghost wrote:I didn't know the old recession(s) ever ended...
Hasn't the U.S. ever recovered from 2008/2009?
Was that the "jobless recovery"? :lol:
Yes, this "recovery" is producing some jobs but most of the new jobs are either seasonal, part time or low paying full time jobs.
"When I think about the idea of getting involved with an American woman, I don't know if I should laugh .............. or vomit!"

"Trying to meet women in America is like trying to decipher Egyptian hieroglyphics."
Ghost
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Post by Ghost »

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Last edited by Ghost on January 8th, 2020, 6:11 pm, edited 1 time in total.
Moretorque
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Re: Recession has already started in some US states

Post by Moretorque »

The economy is going into free fall, I don't believe there is much time left before the worst collapse probably ever for America. Most signed up for the socialist Ponzi economy and we get what we asked for and it's getting about time for payment.

The youth have been screwed.
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Re: Recession has already started in some US states

Post by MattHanson1990 »

Moretorque wrote:The economy is going into free fall, I don't believe there is much time left before the worst collapse probably ever for America. Most signed up for the socialist Ponzi economy and we get what we asked for and it's getting about time for payment.

The youth have been screwed.
Like how much time do you think there is left?
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Re: Recession has already started in some US states

Post by Traveler »

Most of the jobs created within the last few years have been low wage jobs. It has been become increasingly difficult to make a middle class income. This trend is due largely to automation (workers being replaced with machines and software) and can be expected to worsen in the future. Automation affects every field. Lawyers can use software to draft a contract in 30 minutes- a process that used to take days and may have required a team of assistants. Even doctors may be replaced at some time in the future by robots. Already many doctors depend a lot on computer programs to help them make diagnoses. They enter the patient's symptoms and the computer returns a diagnosis. Such programs will become increasingly sophisticated and accurate in the future. Taxi drivers and bus drivers may be replaced by self driving vehicles. Most flying nowadays is done by computers. Pilots spend very little time manually flying the plane while in the air.
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