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ByPaulWisemanand Bernard Condon The Associated Press WASHINGTON Last week's harrowing plunge in U.S. stocks — fueled by eco- nomic fears about China and plummeting oil prices — left investors anxious and alarmed. Some wondered if it signaled an approach- ing recession in the United States. The answer, most ana- lysts say, is no. The American economy is expected to prove resil- ient and nimble enough to avoid serious damage, at least anytime soon. For all the economy's challenges, the job market is strong, home sales are solid and cheaper gasoline has al- lowed consumers to spend more on cars, restaurants and online shopping. Thecompaniesthatmake up major stock indexes are far more vulnerable than the economy itself is to dis- tress abroad: Companies in the Standard & Poor's 500 index derived 48 percent of their revenue from abroad in 2014, up from 43 percent in 2003. By contrast, exports ac- count for only about 13 percent of the nation's gross domestic product — the broadest gauge of eco- nomic output. That's one of the lowest such shares in the world. Exports to China equal just 1 percent of GDP. "While the U.S. econo- my's exposure to China is relatively small, the mul- tinational companies that trade on the stock market are much more exposed," said Mark Zandi, chief economist at Moody's An- alytics. The S&P 500 sank 2.2 percent Friday and has tumbled 8 percent since the year began, deflated by expectations of even lower oil prices ahead and fears that China's once-explosive economy is slowing more than anyone had expected. On Friday, the Xinhua news agency reported that Chi- nese banks reduced loans last month from a year ear- lier. It was the latest sign that China's economy continues to decelerate — an omi- nous trend for U.S. compa- nies, like heavy-equipment maker Caterpillar, that have significant business there. (Caterpillar shares shed 2.7 percent Friday.) "For many of these com- panies, the narrative behind their growth and earnings prospects is China," Zandi said. "If you throw that nar- rative out, investors get ner- vous." The disconnect between the actual economy and the price of stocks isn't new. From the waning days of the Great Recession into the tepid recovery that fol- lowed, stocks managed to gradually rise despite per- sistently high unemploy- ment and tepid economic growth. Now, the opposite seems true. "Main Street is bet- ter, and Wall Street is suf- fering," said Jim Paulsen, chief investment strategist at Wells Capital. The broadest gauges of the economy look funda- mentally sound. GDP likely expanded 2.4 percent last year, according to JP Mor- gan Chase. Zandi foresees its growth hitting 2.8 per- cent in 2016 — hardly spec- tacular but decent, espe- cially at a time when many industrialized economies are struggling to grow at all. The job market appears particularly robust. Em- ployers added an average of 221,000 jobs a month during 2015 and 284,000 a month from October through December. The un- employment rate has sunk from 10 percent in 2009 to 5 percent, a level associated with a healthy economy. Improved job security — layoffs have slowed to ex- ceptionally low levels — has helped embolden many Americans to shop. Con- sumer spending, which drives about 70 percent of U.S. economic activity, rose at an annual rate of more than 3 percent in the spring and summer. Auto sales hit a record last year. Not that the U.S. econ- omy has been left un- scathed by the weakness abroad. Partly because a stronger dollar has made their goods more expensive abroad, U.S. manufacturers are suffering. Industrial production fell in December for a third straight month, the gov- ernment said, and orders to factories dropped in No- vember for the third time in four months. Last year, factories added just 30,000 jobs, the fewest since the re- cession year of 2009. What's more, energy companies are reeling from sharply lower oil prices. And though fall- ing oil prices have helped boost consumer spirits and encourage spending, they also helped slow the over- all economy last year by causing energy companies to slash investment. In addition, the Federal Reserve has signaled that it expects to further boost interest rates this year af- ter raising them from re- cord lows in December, and some fear it will move too fast. Fed hikes were consid- ered a trigger for three of the past four recessions. Economists don't en- tirely understand the links among the world's major economies. The Interna- tional Monetary Fund has acknowledged surprise over just how much China's slowdown has hurt other countries in the developing world. It's also possible that damage to the United States could prove worse than direct trade ties sug- gest. Wells Capital's Paulsen notes that small- and me- dium-sized U.S. companies supply the multinationals that do big business over- seas. When exports falter, those companies can suffer in ways that don't show up in trade numbers. Tumbling stock markets themselves can also cause economic damage, by mak- ing Americans who have money tied up in stocks feel poorer and less inclined to spend. A month ago, Joel Naroff, president of Naroff Eco- nomic Advisors, predicted that the U.S economy would grow 3 percent this year. Now he's considering cut- ting his forecast. He's not worried about the impact of economic weakness over- seas. He's worried about the toll that falling stocks may take on consumer confi- dence. Still, he doesn't think a recession is coming, no matter how scary the stock plunge of late. ECONOMY Why sinking stocks likely don't mean US recession MARKLENNIHAN—THEASSOCIATEDPRESS Stock trader Michael Milano, right, works at the New York Stock Exchange on Friday. 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UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PRO- CEEDING AGAINST YOU, YOU SHOULD CONTACT A LAWYER. BARRETT DAFFIN FRAPPIER TREDER & WEISS, LLP, as duly appointed Trustee under and pursuant to Deed of Trust Re- corded on 07/30/2007 as Instru- ment No. 2007013621 of official records in the office of the County Recorder of TEHAMA County, State of CALIFORNIA. EXECUTED BY: GLENN T STRACNER, WILL SELL AT PUBLIC AUCTION TO HIGHEST BIDDER FOR CASH, CASHIER'S CHECK/CASH EQUIVALENT or other form of payment author- ized by California Civil Code 2924h(b), (payable at time of sale in lawful money of the United States). DATE OF SALE: 02/01/2016 TIME OF SALE: 2:00 PM PLACE OF SALE: AT THE 02/01/2016 PM PLACE OF SALE: AT THE MAIN ENTRANCE TO THE TEHAMA COUNTY COURTHOUSE AT 633 WASHINGTON STREET, RED BLUFF, CA. STREET ADDRESS and other common designation, if any, of the real property de- scribed above is purported to be: 1550 ROBINSON DRIVE, RED BLUFF, CALIFORNIA 96080 APN#: 031-020-15 The undersigned Trustee disclaims any liability for any incorrectness of the street address and other com- mon designation, if any, shown herein. Said sale will be made, but without covenant or warran- ty, expressed or implied, re- garding title, possession, or en- cumbrances, to pay the remain- ing principal sum of the note(s) secured by said Deed of Trust, with interest thereon, as provid- ed in said note(s), advances, un- der the terms of said Deed of Trust, fees, charges and ex- penses of the Trustee and of the trusts created by said Deed of Trust. The total amount of the unpaid balance of the obliga- tion secured by the property to be sold and reasonable estimat- ed costs, expenses and advan- ces at the time of the initial publication of the Notice of Sale publication of the Notice of Sale is $340,154.95. The beneficiary under said Deed of Trust hereto- fore executed and delivered to the undersigned a written Dec- laration of Default and Demand for Sale, and a written Notice of Default and Election to Sell. The undersigned caused said Notice of Default and Election to Sell to be recorded in the county where the real property is locat- ed. NOTICE TO POTENTIAL BID- DERS: If you are considering bid- ding on this property lien, you should understand that there are risks involved in bidding at a trustee auction. You will be bid- ding on a lien, not on the proper- ty itself. Placing the highest bid at a trustee auction does not au- tomatically entitle you to free and clear ownership of the property. You should also be aware that the lien being auc- tioned off may be a junior lien. If you are the highest bidder at the auction, you are or may be responsible for paying off all liens senior to the lien being auctioned off, before you can receive clear title to the proper- ty. You are encouraged to inves- tigate the existence, priority, and size of outstanding liens tigate existence, priority, and size of outstanding liens that may exist on this property by contacting the county re- corder's office or a title insur- ance company, either of which may charge you a fee for this in- formation. If you consult either of these resources, you should be aware that the same lender may hold more than one mort- gage or deed of trust on the property. NOTICE TO PROPERTY OWNER: The sale date shown on this notice of sale may be post- poned one or more times by the mortgagee, beneficiary, trustee, or a court, pursuant to Section 2924g of the California Civil Code. The law requires that in- formation about trustee sale postponements be made availa- ble to you and to the public, as a courtesy to those not present at the sale. If you wish to learn whether your sale date has been postponed, and, if applicable, the rescheduled time and date for the sale of this property, you may call 916-939-0772 for infor- mation regarding the trustee's sale or visit this Internet Web site www.nationwideposting.co m for information regarding the sale of this property, using the file number assigned this property, using file number assigned to this case 00000005393269. Informa- tion about postponements that are very short in duration or that occur close in time to the scheduled sale may not immedi- ately be reflected in the tele- phone information or on the In- ternet Web site. The best way to verify postponement informa- tion is to attend the scheduled sale. FOR TRUSTEE SALE INFOR- MATION PLEASE CALL: NATION- WIDE POSTING & PUBLICATION A DIVISION OF FIRST AMERICAN TITLE INSURANCE COMPANY 1180 IRON POINT ROAD, SUITE 100 FOLSOM, CA 95630 916-939- 0772 www.nationwideposting.co m BARRETT DAFFIN FRAPPIER TREDER & WEISS, LLP IS ACTING AS A DEBT COLLECTOR AT- TEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PUR- POSE. BARRETT DAFFIN FRAPPIER TREDER & WEISS, LLP as Trustee Dated: 12/22/2015 NPP0268005 To: DAILY NEWS (RED BLUFF) Publish: 01/12/2016, 01/19/2016, 01/26/2016 i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià i}> ÌVià | NEWS | REDBLUFFDAILYNEWS.COM TUESDAY, JANUARY 19, 2016 6 B