Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
More than half of the net new jobs in the United States during the past 12 months were created in the Lone Star State.
According to the Bureau of Labor Statistics, 214,000 net new jobs were created in the US from August 2009 to August 2010. Texas created 119,000 jobs during the same period. If every state in the country performed as well, we'd have created about 1.5 million jobs nationally during the past year, and maybe "stimulus" wouldn't be such a dirty word.
What does Austin know that Washington doesn't? At its simplest: Don't overtax and -spend, keep regulations to a minimum, avoid letting unions and trial lawyers run riot -- and display an enormous neon sign saying, "Open for Business."
I do agree. Texas is very small business friendly.
Very easy to start up your own company and not be burdened by the same bureaucracy as the big corporations. As you grow though so do the rules and regulations.
Startups do have the environment though to flourish which is the most important in the first 5 years of business.
Started a small business two years ago and doing very well. Have friends who attempted similar type businesses in Nevada(Vegas) and California(Orange County). They had to shut the doors after 6 months.
Could it also be the attitude? People who don't reside in the U.S. say when they ask someone where they're from, those from Texas they say "Texas", not America(The U.S.).
Regulations to a minimum? Yea, that's a great idea, that won't backfire....... Wait, this isn't 2006, it's 2010, shouldn't we know better?
You are wrong! If you are referring to the 2006 banking fiasco. The reason that happened was because we encouraged banks to lend by telling them, "don't worry, if you default, we will provide the insurance to cover your loses." As a result, they lent out billions carelessly. The federal government provided the basic fabric to create the crisis along with the fed's low interest rates. If it wasn't for the safety net provided by the government, the banks would have NEVER lent the money in the first place. No housing boom, no housing bust, no sub prime this or that. The subprime borrower would go to the bank and the bank would say, "sorry you can't get a loan here."
People often blame no regulation as causing the crisis but you also have to look at the other side of the story - the government was encouraging the careless lending!
You are wrong! If you are referring to the 2006 banking fiasco. The reason that happened was because we encouraged banks to lend by telling them, "don't worry, if you default, we will provide the insurance to cover your loses." As a result, they lent out billions carelessly. The federal government provided the basic fabric to create the crisis along with the fed's low interest rates. If it wasn't for the safety net provided by the government, the banks would have NEVER lent the money in the first place. No housing boom, no housing bust, no sub prime this or that. The subprime borrower would go to the bank and the bank would say, "sorry you can't get a loan here."
People often blame no regulation as causing the crisis but you also have to look at the other side of the story - the government was encouraging the careless lending!
Sorry, but this is a little goofy on a couple of levels. This being a Business Forum, rather than politics, let's step back towards the Business Real World rather than projective/subjective politics?
First, Insurance does not tend to make folks -- especially in business -- take additional risks. In real world practice, we carry millions of dollars worth of insurance policies, and they tend to make us more aware of risks, more cautious, institute safety programs, and in general -- behave better. The system tends to keep the issues in our minds, and rewards us with better rates for better performance, and if we were to behave irresponsibly, we would be out of business, as the insurance carriers would determine us as too great a risk, and we would be shut down.
Same in the banking world. Legit Insurance and Oversight promote safe and responsible behavior. Overall, for the last 70 or so years, the FDIC has performed well, as does the National Credit Union Administration (NCUA), as did the Federal Savings and Loan Insurance Corporation (FSLIC), until regulation was pulled off the Savings and Loans in the early 1980's, and they went berserk and crashed, same as the Banks did in the early 2000's.
The wheels fell off the banking system after 1999/2000 with the repeal of the Glass–Steagall Act -- A very restrictive set of laws limiting what banks could do and more importantly what they could not do. If Glass–Steagall were still in effect, we would not have banks playing in insurance, "investments" (which are little more than fraud), derivatives, and the rest of the con-job and corruption that has (totally predictably) hit US less than 10 years later.
Greed, Ignorance, and Arrogance -- all from the top end -- are the cause of the banking collapse, and we have not seen the end of it all, yet.
=================
btw, for any of the usual [sorry, can't say "retards" on here] folks around here who think this is a R v. D thing -- it took the combined stupidity of both sides to pass the repeal of Glass–Steagall . . . .
The bill that ultimately repealed the Act was introduced in the Senate by Phil Gramm (Republican of Texas) and in the House of Representatives by Jim Leach (R-Iowa) in 1999. The bills were passed by a Republican majority, basically following party lines by a 54–44 vote in the Senate[10] and by a bi-partisan 343–86 vote in the House of Representatives.[11] After passing both the Senate and House the bill was moved to a conference committee to work out the differences between the Senate and House versions. The final bill resolving the differences was passed in the Senate 90–8 (one not voting) and in the House: 362–57 (15 not voting). The legislation was signed into law by President Bill Clinton on November 12, 1999.[12]
Texas doesn't have the crazy HELOC plans either. You can only max out any home loan at 80%.
We didn't have the 100+% financing some other states had.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
