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No Recession in Texas
Thursday, March 10, 2016 8:04
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They lived high on the hog in Bubble McMansions near Houston, the economy tied to the oil industry. And now, a very different story all over Texas.
An apt quote from Zero Hedge from 2015:
…what we are witnessing is not the after-effect of the “severe and protracted recession” -we are witnessing the continuation of the Second Great Depression which never went away, and whose effect has been masked – so far – thanks to $22 trillion in central bank assets, which alone have delayed, not avoided, a historic market meltdown, and as Deutsche Bank’s Jim Reid said earlier today, “capitalism has been propped up every time it’s about to go through one of the cyclical creative destruction phases.”
Source: http://karendecoster.com/no-recession-in-texas.html
