Kiss Austin's growth goodbye - International Monetary Fund says int. lending taps will be shut down for years (Liberty: neighborhoods, bankrupt)

[inthecut]

Pretty hair-rasing info from the IMF......... the body that essentially runs the show, and the closest thing to a consortium of national banks, sez that lending for US growth from outside the US will be a pale glimmer of the pre-bust years.........

Where will the money for Austin to grow like it has last 5-10 years come from now? Are they planning on printing their own notes? Establishing their own little federal reserve?

Here's the survey...a little technical, but still quite understandable....read the first part about international lending to the US(the same source of lending that propped up the housing market and growth of the top-of-the-heap growing metros like Vegas and Austin, and see where we stand....)

The gist......the taps have been turned off, and our own lending sources long ago received a one-off bail out(national banks such as Goldman and Citi)........

Where oh where will the money for Austin's buildout come from now?

http://www.imf.org/external/pubs/ft/...g/wreo1009.pdf

[hoffdano]

Inthecut - once again you are trying oh so hard to paint a bleak future for Austin.

That report of course doesn't mention Austin. It raises questions and doubt about the near and medium term economic recovery.

None of the issues it presents are unique to Austin.

If what that report says is true - Austin will not suffer any more than any other city in the US.

I think it is entirely possible that if capital is precious - investors will choose carefully where they invest. Austin could still be a net winner. Investors will not choose Detroit or Philadelphia or other cities where economic factors are likely to remain unfavorable.

Business will continue to make decisions the way they always have - they will seek locations that offer favorable taxation, a supply of appropriately skilled workers, and the natural resources they need.

[mimimomx3]

Once again, the truth lies somewhere between ITC's doom and gloom and the rosy scenario dewy eyed hopefulness of some. Our economy- that of the US- is headed downhill fast. We are quicly losing our place as the world's reserve currency, our unemplyoment rate will continue to grow, as will the deficit. With Obama care and the 'green revolution' on the horizon, it's not a pretty picture. I think that Texas is a bright spot, and Austin in particular, thanks to a (relatively) conservative state government. I do worry that the recent arrivals to Texas from the tax and spend, welfare states, especially California, don't bring their procilivity for nanny state policies here.

[oldtoiletsmkgdflrpots]

Originally Posted by mimimomx3;11536547. I do worry that the recent arrivals to Texas from the [B

tax and spend, welfare states, especially California[/b], don't bring their proclivity for nanny state policies here.

Would you mind giving me an example of a nanny state policy so I know whether or not I'm "one of those" people?

[mimimomx3]

Originally Posted by oldtoiletsmkgdflrpots

Would you mind giving me an example of a nanny state policy so I know whether or not I'm "one of those" people?

In my opinion, 'nanny state government' is all about legislation that encroaches on personal liberty in order to prevent any all possible injury- those include bans of smoking, drinking, transfats, driving, property, basically- everything. Of course, all those rules come at a cost- writing them, enforcing them and create a bad climate for business...business which stimulates the economy.


Reason Foundation - California: Nanny State 911


Chlorinated Liberty: California Nanny State Aims to Ban Big Screen TVs

[joejitsu]

This is actually a good thing. Remember they didn't say that all investment was stopping but decreasing, Also some areas of the USA will continue to grow, like Austin, and some will continue to decline, Detroit. My hope that Austin's growth will be smarter in the future. Before the bust the growth was strip malls, McNeighborhoods, chain resturants, and big box retailers. The growth in Austin will continue, but hopefully in a better way in the future. Keep Austin weird everyone.

[joejitsu]

Originally Posted by mimimomx3

In my opinion, 'nanny state government' is all about legislation that encroaches on personal liberty in order to prevent any all possible injury- those include bans of smoking, drinking, transfats, driving, property, basically- everything. Of course, all those rules come at a cost- writing them, enforcing them and create a bad climate for business...business which stimulates the economy.


Reason Foundation - California: Nanny State 911




Chlorinated Liberty: California Nanny State Aims to Ban Big Screen TVs

Good point! Bans on smoking and transfat are negatively correlated to economic development. Without a doubt they are the reason that California's economy is in the toilet. Care to share more of your economic genius with us?

[orbius]

Why bother debating anyone who thinks Bush and Perry were great governors?

Its like talking to a brick wall.

California isnt perfect but neither is Texas. Texas is near bottom in educational standards of all states. Highest number of uninsured children. Highest rate of prison population. We have real problems here that the Republicans have done sod all to fix. In fact they have presided over these declines.

[mimimomx3]

Originally Posted by joejitsu

Good point! Bans on smoking and transfat are negatively correlated to economic development. Without a doubt they are the reason that California's economy is in the toilet. Care to share more of your economic genius with us?

Of course, all those rules come at a cost- writing them, enforcing them and create a bad climate for business...business which stimulates the economy.

[mimimomx3]

Originally Posted by orbius

Why bother debating anyone who thinks Bush and Perry were great governors?

Its like talking to a brick wall.

So.....why is the Texas economy is still strong when others (California, perhaps?) are bankrupt? I think the brick wall is the one that we should erect around Texas to keep the tax and spend liberals OUT.