A serious body of proof now exists that shows the next economic downturn is, in reality, already here. The U.S economy has stalled at an annualized rate of 0.2% and trade deficit figures of $51.4 billion for March, 2015, will subsequently downgrade the first quarter GDP results into the negative. In fact, if it wasn’t for the West Coast port strike (cited by the government as one reason for a low quarter growth rate), imports, and therefore the trade deficit, would have been significantly higher.
With the Bureau of Labor Statistics reporting that 1 in 5 U.S. families currently has nobody employed, homeownership at a 25 year low and only 37% of students correctly paying back their loans, the evidence continues to pile up.
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