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Recession 2016: In Some States, A Very Deep Economic Downturn Has Already Arrived

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Did you know that there are some U.S. states that have already officially fallen into recession?  Economic activity all over the planet is in the process of slowing down, and there are some areas of the country that are really starting to feel the pain.  In particular, any state that is heavily dependent on the energy industry is hurting right now.  During the years immediately following the last recession, the energy industry was the primary engine for the growth of good paying jobs in America, but now that process is completely reversing.  All over the U.S. energy companies are going under, and thousands upon thousands of good jobs are being lost.

On Sunday evening, Bloomberg published an article entitled “The U.S. States Where Recession Is Already a Reality“. The following is an excerpt from that article…

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 three additional states that are “at risk of prolonged declines” are Louisiana, New Mexico and Oklahoma.  What all of those seven states have in common is a strong dependence on the energy industry.  Last year, 67 oil and gas companies in the United States filed for bankruptcy, and approximately 130,000 good paying energy jobs were lost.

If the price of oil does not go back up, this could be just the beginning.  It is being reported that a whopping 35 percent of all oil and gas companies around the planet are at risk of falling into bankruptcy, and the financial institutions that have been backing these energy companies are getting very nervous.

http://right.is/conservative-opinion/2016/02/recession-2016-in-some-states-a-very-deep-economic-downturn-has-already-arrived-3999.html

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Growing up I never envisioned the world as it is today...where will it all end.

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It's called bubblevision and it's across all sectors. Create 'em then bubbles do what they will.........pop! In 2007-2008 it was housing and now it's energy.

Next!

A stable economy with slow, steady growth that keeps pace with the population (supply and demand) can only thrive in a FREE market, not the currently rigged one that is a global menace to the real producers. Moneychangers produce nothing but negative balance sheets (debt slavery)

According to shadowstats the real unemployment rate is around 25%. At the height of the Great Depression unemployment was at 23%. "Recession" is the soft media word for depression so don't be fooled...we're already in it.

http://www.dailyjobcuts.com/

Haliburton has laid off 22,000 since December 2014 and are now cutting 5,000 more people.

http://finance.yahoo.com/news/halliburton-slash-5-000-more-193005041.html

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