Posted on 01/26/2015 8:14:04 AM PST by 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.
(Excerpt) Read more at businessinsider.com ...
But, since my original point was about recovery from the Great Recession:
Without Texas, the rest of the US has yet to even recover, much less grow....
...your point is kinda moot, isn't it? Or most likely, you just had a chip on your shoulder that you wanted to dare me to knock off. I'd bend down and pick it up for you, but you would probably stab me in the back.
Of course, if you really want to make an apples-to-apple comparison, we should look at per-capita GDP. It turns out that Texas and California were almost the same in 2013: California was #14 at $52,465, and Texas was #17 at $53,497.
But the trend is up in Texas. In California, it's down -- although it's gradually recovering. Back in 2007, California per-capita GDP was #10 at $54,989. Texas was #19 at $48,886. At -4 vs +2, it looks like your trend is in the wrong direction.
Don't look in the rear-view mirror. You might not like what you see.
It’s a nice place to visit on occasion, but it will never surpass California for climate and a lack of bugs, etc.
California is a nice place to visit, too. But, it's a nightmare for small to medium businesses, and they can't all cater to tourists. Even Hollywood is gradually moving to Vancouver.
But, I have to say one thing that is good about the climate and bugs in Texas: it keeps you out.
Have a nice day.
Maybe Wendy Davis was a fluke. Her support was largely leftists outside Texas, and I honestly don't know if a better candidate would have reduced Abbott's margin.
But, we can look at the outcome of past races. Each set of percentages is R, followed by D.
2014: 59.3% - 38.9%
2010: 55.0% - 42.3%
2008: 39.0% - 29.8% (two other candidates took 30.5%)
2002: 57.8% - 40.0%
1998: 68.2% - 31.2% (GWB's re-election)
1994: 53.5% - 45.9%
1992: 46.9% - 49.5% (Clayton Williams' gaffe)
1986: 52.7% - 46.0%
1982: 45.9% - 53.2%
I don't see a discernible trend, but there aren't enough data points.
Texas politics have changed drastically in the past three decades: Conservative Democrats have either switched parties or been replaced by Republicans, and the remaining Democrats have been moving farther left.
It's also worth noting that a Hispanic woman was the Democrat candidate for Lt. Governor in 2014. If the Hispanic vote was truly a factor, then she should have benefited. But, that race was 58.1% - 38.7%, almost the same as Governor.
And snakes! Everyone hates snakes, right?
They are EVERYWHERE! I have to go out in the backyard with my saxophone and lure them all into the lake, just so the dog can do his business without getting bit.
Sorry. My bad.
If the suppliers are smart, they’ll send back letters saying that they expect cash payment (currency or certified funds) at the time of delivery.
Orders to suppliers are quite down. Others would gladly take the remaining business.
Shouldn’t be a whole lot of profit in an order you have to discount by 35%, and even less if you are delivering to someone likely to give you a bankruptcy notice rather than a payment. Not making a sale might not be worse than making the sale. Time to cut early and cut deep.
California produces more oil than Alaska. We are the third state for oil production. This will effect our economy also.
“California produces more oil than Alaska. We are the third state for oil production. This will effect our economy also.”
I was down in the San Ardo Valley last year and all those stripper wells that have been idle for years were all pumping. If we had a sane government ( in our case both State and Federal) we would be number 2.
All that said, it’s sure nice to fill up and not have to liberate a $100 bill.
” If we had a sane government”
LOL, we can dream can’t we. You’re right on the fill ups too. I’ve actually been driving my pickup some now instead of just in absolute have to situations.
The entire supply chain was caught up in a “need it a fast as you can” buying spree due to the explosive growth in the US oil industry. Many were paying lots of overtime, premiums for fast delivery, etc.
At a slower pace, there is cost savings to be found. My business supplies engineering and design to oil/gas/petrochem. Our overtime is cut, we closed one office last week. Essentially everybody is cutting back to reduce cash flow.
Also, the slowing global economy is not just effect the price of oil. Copper, iron, lumber, etc are way down in price. So it is reasonable to expect reductions in prices of items made from these materials.
Thanks.
Everybody thinks we Texans stand tall 'cause we're are tough, but it's really because we're just too skeered to fall to the ground....so y'all stay away now, ya hear?
:-)
I ain't the sharpest tool in the shed.
California has the resources to be an even bigger player in oil production. There is oil naturally seeping into the coastal waters, just waiting to be tapped.
But, the environmentalists would rather it all dribble away, rather than run the risk that a drilling rig will leak.
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