Things Are Bad In Texas: Crash in oil prices is weighing on economy.

Business Insider ^ | 01/26/2015 | Myles Udland

[SeekAndFind]

The crash in oil prices is weighing on Texas' economy.

The January Texas manufacturing survey from the Dallas Fed was a huge miss, with the general business activity reading coming in at -4.4.

Expectations were for the composite index to come in at 3.0, down from 4.1 in December. Factory activity in the region was flat in January.

The big takeaway, however, is that as with last month, numerous business executives expressed concerns over how the crash in crude oil prices would affect results.

[TexasRepublic]

However bad it gets in Texas, it will be worse elsewhere.

[Nervous Tick]

>> the teachers were allowed by law to hit your kid

The meaning of “hit your kid” has certainly changed over the years, hasn’t it? :-)

[OrangeHoof]

Why, they still have the Death Penalty in Texas and they actually use it. “He needed killin’” is an adequate defense in court. And they pick cripples to run their government instead of cute blondies. Stay away from there.

[2ndDivisionVet]

Exactly. And look at the jobs:

http://www.indeed.com/jobs?q=advancement&l=Dallas%2C+TX

[JimSp]

I live near Ft. Worth and vouch for all you said.

[vette6387]

“Why, they still have the Death Penalty in Texas and they actually use it. “He needed killin’” is an adequate defense in court. And they pick cripples to run their government instead of cute blondies. Stay away from there.”

Yes they do and I admire them for it. But I really doubt that the “he needed killin’” is a “defense strategy.” More likely the prosecution’s. But in order to see how things are trending in Texas, you only have to look at who your “representatives” are in the counties on or near the Mexican border. They are all RATs, and they are all Hispanic, and they are moving northward to join up with the crap weasels in Austin (Texas’ answer to Berkeley). Enjoy the ride, California looked like Texas a couple of decades ago when we too had a Republican governor (remember that guy, Ronald Reagan?). Remember, you too are only one election or two from a POS like Jerry Brown and a bunch of Commie Beaners from SOTB.

[woodbutcher1963]

The Saudis, along with their allies, UAE, Qatar, Bahrain are now surrounded by their enemies the Iranians. Iran will soon have nukes and ballistic missiles. They are trying to slow down Iran’s progress and hurt them economically. They are scared.

[Spartan79]

Just another BS article scaremongering us about the hazards to our economic health that are alleged to be posed by low gasoline and heating oil prices. Plug in your BS detectors, folks. Oil patch and some related industries might be tightening their belts a bit for a while, but they’ve been rolling in tall clover for some time. Everywhere else in the economy, the dramatic drop in energy prices is an unambiguous plus. Car sales are already turning up, housing starts won’t be far behind, farmers are out kicking tires at ag implement dealers, and families are looking at vacation brochures over restaurant meals they felt like they couldn’t’t afford a few months ago. In this instance oil patch’ s loss is the rest of our gain.

[ConservingFreedom]

ban drilling, legalize pot and take away your guns

A decrease in liberty, an increase, and a decrease - bad package on the whole.

[justlurking]

Sorry, you will just have to get over it. Without the growth in Texas (and to a lesser extent, North Dakota), the Obama administration's claim of "recovery" is nothing of the sort.

This tells the story of what has happened in the past 7 years. Without the Texas job market, the rest of the US would be just now be back to where we started in 2008:

This one ends at 2013, but compares Texas to California:

The second image has the source of data, so you can go generate comparable graphs with the latest data. I don't know how long these images will remain valid, but you can see for yourself:

Texas: total non-farm employment, seasonally adjusted

California: total non-farm employment, seasonally adjusted

If you prefer to compare GDP growth, you can look at this table:

State GDP Growth, 2008-2012

Texas is #2, at 12.49%.
California is #44, at minus 0.29%.

Oil price declines will hurt Texas.

Yes, that's the point I was trying to make. Oil service companies are already laying off people, and drilling rigs are being idled.

With the rest of the country still trying to recover from the Great Recession, the declines in Texas (and North Dakota) will drag down the national averages.

[Liberty Valance]

Things Are Bad In Texas

Texas economy is and has always been cyclical. Nobody even mentions how the scorpion population has exploded. Danger. Stay away.

[X-spurt]

All our U-Haul comers need to hear you well. Its time to hook back onto another lil trailer and Go West, don’t stop til ya see the ocean blue. We’ll be happy for ya to go, but come back someday for a visit and be sure to bring some of that booming Kalifornia gold with ya.

[Nervous Tick]

>> We here in Texas have a saying, “Welcome to Texas! Now go home”

Q: How are Yankees like hemorrhoids?
A: if they come down and go back up they’re all right. But if they STAY down, they’re a pain in the a__!

[OldBullrider]

“If I owned Texas and Hell, I would rent out Texas and live in Hell.” This is a statement that Century 21 should put on their webpage for properties in Texas.

[lonestar]

I get it! People never give up their beer! /s

[lonestar]

LOL! Yep~

[biff]

Yep, especially Cali where they are mostly queers and perverts.

[thackney]

see how things are trending in Texas, you only have to look at who your “representatives” are in the counties on or near the Mexican border.

That is not a trend, the number has actually decreased. State wide elections are trending more republican than before.

[Marcella]

We found gas for $1.64 one week ago and now the same place is $1.87. Gasoline prices will not stay down. One cannot take a lower price and extrapolate that forward because the price will go up again.

[vette6387]

“Sorry, you will just have to get over it. “

Nothing to get over. My point was not about job creation but rather GDP, and on that score, California is generates 40% more revenue today than does Texas. While there is no question that today Texas has the better economy, it still has a long way to go to equal California’s. Glad you like Texas. It’s a nice place to visit on occasion, but it will never surpass California for climate and a lack of bugs, etc.