usa economy

USA Economy

Visiting other countries and watching TV coverage, engaging with the local people and reading the press certainly gives you a new perspective. On my recent visit to the USA (purely for pleasure visiting New Orleans, Memphis and Nashville) certainly opened my eyes to a different USA. Set against the 50th Super Bowl and the Primary Elections in New Hampshire, two massive contests gripped the USA during my stay.

You might not be surprised to hear that voters are totally dissatisfied with the political status quo and how deeply split both parties are. Does this look and sound familiar? The USA is going through the most unconventional presidential contest ever seen in its history. President Obama presents $4.1 trillion budget plan to congress and combines ambitious election year offerings: “This budget is about making sure our economy works for everyone, not just those at the top.” It’s said that President Obama has never presented a balanced budget during his tenure.

Here are some interesting headlines:-

  • Gasoline prices may soon dip below $1 dollar – putting fuel in the same category as a pack of chewing gum.
  • Energy companies in the USA are facing a bleak 2016 with profits dropping dramatically.
  • Growing fears that global banks are heading for a meltdown – the likes of which were last seen in 2008.
  • Bank shares in some cases have dropped 36% in the financial year.
  • Sears Department Stores are planning store closures and continue to purge assets to keep its business turnaround a float.

However there is some good news to report:-

  • Amazon has received its Chinese Shipping License signalling massive retailer plans to become a shipping company.
  • Beyoncé’s song gives a boost to the Red Lobster restaurant chain with a 33% surge in sales.
  • Twitter is forming a coalition with outside groups and experts to help shape its products and policies in an attempt to cut back on abuse.
  • You Tube – the world’s most popular video network – launches You Tubes Red Subscription for its young viewers.
  • Goodyear Tyre and rubber shares produced better than expected results with 58% higher adjusted quarter profits.

So, just a little glimpse into the real America as the election band wagon rolls from state to state to find the next President of the USA.