Business Report 6/24/15: U.S. Economy - Hawaii News Now - KGMB and KHNL

Business Report 6/24/15: U.S. Economy

This is the first year since 2007 in which every one of the world's advanced economies will expand.

The U.S. economy has been growing for six years, and it's extremely unusual to go more than 10 years without a recession. 

With that in mind, there's a headline in the magazine The Economist: "Watch Out: the World is Not Ready for the Next Recession." Well, that's kind of alarmist. So what is there to be alarmed about?

Rich countries' indebtedness , as a percentage of total economic output, has risen 50% since 2007.

The next time their economies contract, some countries basically won't be able to afford to do economic stimulus.

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