President Trump’s core campaign promise was to “Make America Great Again,” through a revival of the manufacturing complex via launching a trade war against China and debt-fueled tax cuts for corporations. Most of the recovery, well, it was a sugar high, that by the time late 2018 rolled around, economic growth rates started to reverse.
Manufacturing data on Friday was more confirmation that an industrial recession continues to persist and could be broadening into early 2020. Now the slowdown appears to be spreading to nine states that are teetering on the edge of a recession.
The Federal Reserve Bank of Philadelphia published new leading index data for 50 states for November 2019 last week. The leading indexes are a six-month forecast of the coincident state indexes that show nine US states are expected to plunge into a recession within six-months – this is the most significant number of states to slide into a contraction since the financial crisis.
State leading indexes for November show that West Virginia’s economy is headed for a significant downturn. The coal industry is in tatters, manufacturing is busting, and an opioid crisis continues to ravage local communities across the state.
Delaware, Vermont, Oklahoma, Montana, Iowa, Kentucky, and Connecticut are other states where leading indexes are indicating an economic contraction could occur in the next six months.
Leading indicators suggest Midwest and Rust Belt states will record marginal growth in the next six months, but we should note that growth rates have quickly faded in these states where farming and manufacturing have gone bust.
Bloomberg data shows nine states are headed for an economic contraction; this is the highest amount since July 2009.
An industrial recession is broad-based at the moment, spreading to nine states, with the risk of infecting another 14 states in the Midwest and Rust Belt by 2021.
President Trump will be hitting the campaign trail momentarily and visiting many of these states where he promised an economic revival. Source ZeroHedge.com
Editor, Bankster Crime
MY MISSION IS NOT TO CONVINCE YOU, ONLY TO INFORM YOU…
“Have I therefore become your enemy by telling you the truth?”
Tagged Under: #Fraud #Banks #Money #Corruption #Bankers
Here’s the Bitcoin and Ethereum link that is likely to offer higher returns on these alts
When was the last time Altcoin Market Cap turned its old 2014 highs into support? With ETH’s price rally above $3200 level, altcoins have started rallying again.…Read More
Luongo: Cryptos “Are The Right Tool To Call Bull$hit On Central Banks”
Bitcoin: It’s Not A “Real” Truck I just bought a new truck. My 2013 Ford Focus (with requisite 5 speed Millennial Anti-Theft Device) couldn’t keep…Read More
Tron, Chainlink, VeChain Price Analysis: 30 April
Source: Pixabay The altcoin market has been dealing with a sudden shift in volatility throughout the month of April. With Bitcoin bringing in bearish drops and Ethereum…Read More
Cryptocurrencies Are the Next Frontier for the Surveillance State
Countries are launching digital currencies to rival Bitcoin—and opening up new ways to snoop on their citizens in the process. ILLUSTRATION BY DANIEL ZENDER At…Read More
Dollar Drop, Crypto Pop Reflects “Crazy People” Running The System
The last few months have seen the dollar dive and crypto thrive… Source: Bloomberg And the last few days have been no different… Source: Bloomberg…Read More
Will Crypto Weakness Push Silver Higher
Crypto down! Silver up? We think a growing forward trend is a combination of pressure on crypto currencies, particularly Bitcoin (Ethereum has software applications that…Read More
JP Morgan Launches Bitcoin Fund For Rich Clients After Years Of Bashing Crypto
Ever since JP Morgan CEO Jamie Dimon first denounced bitcoin waaaaay back during the heady crypto-rally of 2017 (shortly before we revealed that JP Morgan’s asset-management…Read More
How to Sell Bitcoin?
How to sell Bitcoin? If you have bought or received Bitcoin in other ways, you’re probably wondering how to change it to cash. Good news!…Read More
Tron, Synthetix, STEEM, FTX Token Price Analysis
By Saif Naqvi As market leaders Bitcoin and Ethereum moved deeper into the bearish zone, other altcoins registered losses and scrambled to find support at various levels. Tron hovered…Read More
I Bought The Bitcoin Dip”…Now What?
What is Cryptocurrency? It is a form of digital money, in short. For the long answer, keep reading our “What is cryptocurrency” guide. More and…Read More
Leave a Comment