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Speaking of the Texas economy, the entire goddamn thing is pretty much built on the energy sector (surprise..). This year in particular many of the major operators (the Shells and BPs of the world) are slashing expenditures and in some cases headcount in order to increase returns in the face of stagnating oil prices. Because you know, its not good enough to make 100 gazillion dollars two years in a row. This is going to take some time to trickle down through the various service and support companies but belt-tightening is already a thing. Not likely to have any political impact this round but I personally think this will play a role in the near future. Housing prices have already rebounded to "ridiculous" in most urban areas. Combined with a swift local recession this could cause some pain.
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Jun 17, 2014 23:07
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| # ¿ Apr 16, 2024 05:02 |
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