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The greatest risk to the United States economy right now is a recession triggered by the European financial crisis. [Below is a
chart that clearly depicts each of the 50 states exports to Europe as a % of GDP. You will be surprised at what it reveals. Take a look.] Words: 235
So says Dr. Bill Conerly (http://businomics.typepad.com) in edited excerpts from an article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
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Conerly goes on to identify U.S. exports to Europe as a % of every state’s individual GDP, as follows:
(Exports are from http://tse.export.gov/TSE/TSEHome.aspx, and GDP comes form http://www.bea.gov/)
The data are not perfect, but they do give a general idea of how high each state’s direct risk from Europe is. I say direct risk because there’s also indirect risk: if a bunch of East Coast states go into recession, the West Coast can’t avoid it even though their direct exports to Europe are small.
*http://businomics.typepad.com/businomics_blog/2011/10/state-risk-of-recession-from-europes-financial-crisis.html
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