September 13, 2013
It’s not all doom and gloom out there.
In fact, the U.S. economy is doing so well there is nothing to worry about any more, according to a new report from well known analytics firm Moody’s.
Based on their detailed analysis, there is no longer any possibility of falling back into a recession in 49 of our 50 states:
All U.S. states except for Delaware have escaped the possibility of falling back into recession, as they reap the rewards of strong private-sector employment and a burgeoning energy sector, according to an analysis released on Tuesday.
Moody’s Analytics, which tracks state and metropolitan economies, added Illinois, Wisconsin and Alabama to its list of states in recovery. That left Delaware alone in its “at risk of recession” category.
Moody’s Analytics, a unit of Moody’s evaluates economics and financial risk around the world. A separate unit, the credit ratings agency Moody’s Investors Service, recently said the outlook for states is now stable, after five years of being negative.
Moody’s Analytics considers multiple factors alongside employment – mainly housing and industrial production – when assessing the business cycle in a state.
Currently no state is in recession, it found, and seven are in economic expansion.
Never mind that the latest Gallup (un)employment survey indicates that 604,000 fewer people were employed this month than last month and over 1.4 million people left the workforce (and are no longer counted), or that more American households are receiving food stamps today than ever before in the history of the United States, or that major cities across the country are on the very cusp of going bankrupt.
Nope, we’re now in the clear.
And not only are we no longer in recession, just the other day it was noted that numerous government sponsored studies claim that in the midst of disasters and emergencies there is never any panic, no looting, and people don’t go hungry or get sick.
So there you have it folks. We’ve been all wrong… about everything.
It’s time to stop preparing for the worst, stop worrying about an economic collapse that will never happen, and get out there and start shopping!
We want to thank Presidents Bush and Obama, the good people at the Federal Reserve, all of the institutional bankers doing God’s work, and of course, all the little people who lost their homes, jobs, health insurance, and life savings for making this recovery possible.
Green shoots have never tasted so sweet.