U.S. Economy

The U.S. is the world’s largest national economy. In 2013, the U.S. reported gross domestic product (GDP) of $16.8 trillion, or 22.4% of global GDP. China was a distant second at $9.2 trillion. Japan’s economy was the third largest in 2013 at $4.9 trillion, with Germany ($3.6 trillion) and France ($2.7 trillion) rounding out the top five.

The U.S. is also the second largest economy by region. In 2013, U.S GDP of $16.80 trillion was just slightly behind the entire European Union at $17.35 trillion.

As the world’s biggest national economy the U.S. is also its economic engine. That’s because the U.S. is the largest consumer market in the world. In 2013, consumer spending accounted for 71% of the U.S. economy.

As goes the U.S., so goes the global economy. Since the stock market crashed in 2008, U.S. economic growth has been weak. In 2008, the U.S. reported negative GDP of -0.03%; in 2009, it slipped further to -2.8%. Since then, the U.S. economy has experienced uneven growth. Most recently, in 2013, the U.S. reported GDP growth of 1.9%.

Going forward, the International Monetary Fund (IMF) has cut its outlook for global economic growth, saying there are limits to the United States’ ability to shoulder the world’s economy on its own. Before the financial crisis, the U.S. routinely advanced at around 3.0% annually. For 2014, the IMF expects GDP to grow 2.2% and in 2015 it expects the U.S. economy to advance 3.1%.

How $40-Barrel Oil Could Cripple the Global Economy

By Friday, January 16, 2015

Oil Prices Continue to PlummetSimply put, there is no support or interest in buying oil at this time, and that means oil prices could realistically hit $40.00 a barrel. Oil prices that low could cripple the global economy. Let me explain…
The Decline in Oil Prices
When the West Texas Intermediate (WTI) crude oil prices initially broke below $80.00, I was thinking… Read More

The Eurozone Economic Mess: Why It Will Impact the U.S. Economy

By Monday, January 12, 2015

Eurozone Troubles to Impact American Key Stock IndicesIn 2014, I was able to travel to Europe on six different occasions. I just came back from England. These trips to Europe enable me to see how the countries there are faring economically. And I can tell you first-hand—take England and Germany out of the picture, and most European countries are in an outright depression. (Not good news f… Read More

Economic Depression in 2015 a Real Possibility for U.S.

By Thursday, November 27, 2014

Great Depression in 2015Are Conditions Ripe for a Great Depression in 2015?
It’s hard to imagine the world’s biggest economy could fall into a depression in 2015, let alone a recession. But the fact of the matter is that it’s a real possibility, no matter what the stock markets are saying.
Normally, you can look at the stock market and see it as a barometer… Read More

U.S. Economy: Four Indicators Paint Very Negative Picture

By Wednesday, November 26, 2014

U.S. Economy Four Indicators Suggest Stock MarketIf you think the U.S. economy is marching ahead just fine by looking at the stock market, you may be mistaken. Key stock indices hitting new all-time highs don’t mean conditions in the U.S. are better. In fact, the reality of the economic situation is the complete opposite. Several indicators I follow are ringing alarm bells, but the… Read More

Japan Slides Into Recession Again; U.S. Next?

By Friday, November 21, 2014

Japan Slides Into Recession Again; U.S. NextIn the third quarter of 2014, the Japanese economy, the third biggest in the world, fell back into a recession. The country’s gross domestic product (GDP), quarter-over-quarter, declined 0.4% in the third quarter after it declined 1.9% in the second quarter of 2014. The annual GDP growth rate for the Japanese economy now stands at… Read More

×