Evidence has been mounting and now it is insurmountable – the U.S. economy has clearly entered an economic downturn. Growth stalled at 0.2% (annualized rate) for the first quarter and, once trade deficit is incorporated into the government’s financial spreadsheets, this initial figure will clearly be downgraded into a negative one. With trade deficit figures of $51.4 billion solely for March, 2015, the port strike at Oakland in February actually assisted the annualized rate; higher imports will have made the trade deficit figure even worse.
Furthermore, the subjects of employment and housing are serious cause for concern. With homeownership at its lowest in 25 years, the Bureau of Labor Statistics recently reported that 1 in 5 U.S. families currently have nobody employed.
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