MarketWatch: All 50 states in recession for first time since 1970s

[marmar]

All 50 states in recession for first time since 1970s
Coincident indicators show widespread contraction

By Rex Nutting, MarketWatch


WASHINGTON (MarketWatch) -- The great recession of 2008 and 2009 is likely to be not only the longest downturn since World War II, but also the most geographically widespread recession since at least the 1970s.For the first time on record, all 50 states were contracting at the same time, according to the state coincident indicators for February released by the Federal Reserve Bank of Philadelphia on Tuesday. The state-by-state indicators have been tracked by economists at the bank since 1979.

Map: http://www.marketwatch.com/news/story/story.aspx?guid=0AD71800-BFB7-468A-859E-81D3A91207D2

The indicators are designed to closely track gross state product in each state. The GSP data are available only with a long delay, with the most recent data covering 2007.

At least one state had been growing in every month for the past 30 years, until February. In January, the index showed Louisiana was growing and the other 49 states not.

A year ago, the index showed growth in 21 states. The last time all 50 states were growing was December 2006. ..........(more)

The complete piece is at: http://www.marketwatch.com/news/story/story.aspx?guid=0AD71800-BFB7-468A-859E-81D3A91207D2

[sam sarrha]

1. it's F'n amazing what one stupid wet brain alcoholic can do in 8 years, i'm surprised his father

hasn't smothered him with a pillow during one of his blackouts since he left the white house

[ConcernedCanuk]

2. This started long before Dim-son - Think WW2 and Prescott Bush

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.
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Dim-son was just the "fool on the hill" at the end of the "long rape" of US taxpayers

and it ain't over yet -

Trillions are still going out of taxpayers pockets, savings and pensions to feed the PNAC/BFEE gang's cronies for their efforts to grab global domination.

It ain't over 'till it's over,

and it's not over yet.

And the sheeple?

they sleep.

(sigh)