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Old 09-19-2008, 12:44 PM
 
Location: Junius Heights
1,245 posts, read 3,422,629 times
Reputation: 920

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[Soapbox]Seems like we have the worst of both at the moment. We have minimal, regulations (which I generally favour) and then bail the businesses out when they crash. Only thing worse than a true socialist economy is this bizarre mix of capitalism in the good times, socialism in the bad, so no one has to- you know - act responsibly or anything when running the business. The government will bail you out if you mess up. I truly hope we have hit bottom, but I've heard that from politicians on both sides so often since the housing collapse that I'm not sure I believe it anymore.[/Soapbox]

As for the effect in Texas. I imagine we will see a reduction in jobs, but I don't think we will have the kind of disasters other regions have. Texas is an awfully diversified state, which is a protection here, just as it is in an individual portfolio.

Of course, the field you are in is an important factor. I'm a portrait photographer... bad time for us. Professional portraiture is a luxury. In good, or normal exonomic times, people will pay what it costs to get a good portrait (not Wal-Mart, Lifetouch, Sears, etc) in bad times..... well not so much. My brother-in-law works for America Airlines, he sweats out each round of job cuts. My father-in-law works for an American brewery, they can't get folks to work enough overtime to fill demand. So it just depends.
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Old 09-19-2008, 12:58 PM
 
308 posts, read 1,228,959 times
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With all of the government bailouts, the price of oil will soon rocket back up to $120-$140 (because of inflation & power of the dollar beding diluted from the government "printing money"), so Houston and Ft Worth should be booming for some time. Dallas will benefit from this too.
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Old 09-19-2008, 02:32 PM
 
16,087 posts, read 41,025,710 times
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FrontBurner » Blog Archive » NorthPark As An Economic Indicator

"Gross sales through June at NorthPark were up 8.24%, which tells me Dallas did just fine for the first half..."
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Old 09-19-2008, 06:06 PM
 
16,087 posts, read 41,025,710 times
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Texas Railroad Commission requests emergency funding as oil drilling permits pile up | News for Dallas, Texas | Dallas Morning News | Latest News (http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/092008dntexoil.29604f.html - broken link)

"AUSTIN – Trying to cope with the biggest Texas oil boom in more than two decades, industry advocates and state regulators are seeking emergency government funding to handle an ever-growing backlog of drilling permits..."
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Old 09-19-2008, 06:27 PM
 
Location: DFW, TX
2,935 posts, read 6,697,823 times
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Quote:
Originally Posted by Macbeth2003 View Post
[Soapbox]Seems like we have the worst of both at the moment. We have minimal, regulations (which I generally favour) and then bail the businesses out when they crash.
I agree.... I'm a huge proponent of the free market, but you have to let the market correct itself. Rewarding those who make bad decisions is worse than prohibiting them from making those decisions in the first place.

The two major parties have had a monopoly on the political discussion in this country and it's hurting us. It's time we changed the voting laws to allow comeptition of ideas... end the two party rule.
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Old 09-19-2008, 07:18 PM
 
Location: Dallas
434 posts, read 1,477,090 times
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Quote:
Originally Posted by killer2021 View Post
Well since the fed is printing money like crazy (all these bailouts) the cost of living will go up. Your house will probably adjust for inflation. Foreclosures probably won't spike unless unemployment rises. I don't see that happening due to texas's business friendly climate.

Dallas market is doing pretty good actually. It should be interesting to see what happens in the coming months. My take is that dallas will have little impact compared to other areas like CA where unemployment is skyrocketing and real estate is basically in free fall.

What people don't take into account is that Dallas has a lot of companies that employ many of the people with nice homes and dispensable incomes that fuels this local economy. Many of these companies are national/international and the economy is affecting them slowly. YES Texas' "friendly" business climate is starting to feel some heat. Things aren't dire yet as they are in other regions but soon every state will start to tighten the belt.

Restaurants are starting to close or are getting sold off in DFW. Retail sales are slowing. Again things aren't DIRE but if these trends keep up: who knows???

Maybe if all the companies merge and move to Dallas - we can delay the impact for another 20 years.
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Old 09-19-2008, 11:36 PM
 
3,852 posts, read 12,835,223 times
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Quote:
Originally Posted by rosscountry View Post
What people don't take into account is that Dallas has a lot of companies that employ many of the people with nice homes and dispensable incomes that fuels this local economy. Many of these companies are national/international and the economy is affecting them slowly. YES Texas' "friendly" business climate is starting to feel some heat. Things aren't dire yet as they are in other regions but soon every state will start to tighten the belt.

Restaurants are starting to close or are getting sold off in DFW. Retail sales are slowing. Again things aren't DIRE but if these trends keep up: who knows???

Maybe if all the companies merge and move to Dallas - we can delay the impact for another 20 years.
lol yup, that is why I said it should be interesting in the coming months (because anything can happen). For the most part, Dallas is feeling little if any fallout from the recession.
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