Sponsored Content




Intermarkets' Privacy Policy
Support


Donate to Ace of Spades HQ!



Recent Entries
Absent Friends
Bandersnatch 2024
GnuBreed 2024
Captain Hate 2023
moon_over_vermont 2023
westminsterdogshow 2023
Ann Wilson(Empire1) 2022
Dave In Texas 2022
Jesse in D.C. 2022
OregonMuse 2022
redc1c4 2021
Tami 2021
Chavez the Hugo 2020
Ibguy 2020
Rickl 2019
Joffen 2014
AoSHQ Writers Group
A site for members of the Horde to post their stories seeking beta readers, editing help, brainstorming, and story ideas. Also to share links to potential publishing outlets, writing help sites, and videos posting tips to get published. Contact OrangeEnt for info:
maildrop62 at proton dot me
Cutting The Cord And Email Security
Moron Meet-Ups

NoVaMoMe 2024: 06/08/2024
Arlington, VA
Details to follow


Texas MoMe 2024: 10/18/2024-10/19/2024 Corsicana,TX
Contact Ben Had for info





















« Cute Vid | Main | Beware the competent Technocrats [ArthurK] »
August 16, 2011

New York Times: Pretty Much Perry Just Got Lucky With Job Creation Or Something

Obama: Bad luck.

Perry: Just good luck.

Is Texas lucky, or has the state benefited from exceptional leadership? As Gov. Rick Perry campaigned Monday in Iowa for the Republican presidential nomination — with the economy dominating the national political landscape — the answer to that question is central to his candidacy.

...

But some economists as well as Perry skeptics suggest that Mr. Perry stumbled into the Texas miracle. They say that the governor has essentially put Texas on autopilot for 11 years, and it was the state’s oil and gas boom — not his political leadership — that kept the state afloat. They also doubt that the Texas model, regardless of Mr. Perry’s role in shaping it, could be effectively applied to the nation’s far more complex economic problems.

“Because the Texas economy has been prosperous during his tenure as governor, he has not had to make the draconian choices that one would have to make in the White House,” said Bryan W. Brown, chairman of the Rice University economics department and a critic of Mr. Perry’s economic record.

Datum: Perry didn't face the economic crisis Obama created for himself.

And if Mr. Perry were to win the nomination, he would face critics, among them Democrats, who have long complained that the state’s economic health came at a steep price: a long-term hollowing out of its prospects because of deep cuts to education spending, low rates of investment in research and development,and a disparity in the job market that confines many blacks and Hispanics to minimum-wage jobs without health insurance.

Um... isn't the black unemployment rate under Obama like 20%?

Datum: Texas has lots of jobs now, but somehow this will translate to a "long-term" reduction in jobs "prospects" because of a lack of "investment." Meanwhile, by implication, Obama's America has lost millions of jobs but we're ready for that "investment" driven comeback any day now.

Okay, so, so far, we have 1, racism, and 2, it's just luck and stuff.

Not very strong, at least so far.

Incidentally, Rick Perry just emailed me to call Obama a "sinister Count Chocula looking motherfucker."

Oh, and by the way, how are those investments in green jobs workin' out, Chockey?

Is it all you hoped it could be, and still more?

Update: The Economist partly rebuts many of the liberal attempts to spin away the "Texas Miracle," concluding the glib dismissals are off-base.

I would suggest that in the rush to debunk Mr Perry, Democrats are being a little hasty. The Perry campaign is giving the startling statistic that since June 2009, 40% of the net new jobs created in America have been in Texas—a state with less than 10% of the nation's people. The Dallas Fed, earlier this month, reckoned that Texas created 261,700 jobs between June 2009 and June 2011, compared to 524,000 in the nation as a whole. Given the tremendous need for jobs in this country—and grinding unemployment is a horrible thing, not a minor inconvenience—it's a little disheartening to think that people are rushing to dismiss what has happened in Texas just because it's Texas and because Mr Perry, with his accent and his swagger, is the state's governor. So let's put politics aside. Pretend that Mr Perry doesn't exist, and that there's been a dummy stuffed with straw sitting in his office this whole time. What would have happened in Texas?

As Mr Krugman and others have noted, oil prices have helped buoy the economy.... According to Karr Ingram, an economist with the Texas Petroleum Institute, the Texas oil and gas industry added more than 28,600 jobs since June 2010, or about 13% of the state's net jobs in that span. It would also be fair to say that the oil and gas industry has impacts on Texas that are not captured in the traditional indicators. For example, Texas's longtime energy leadership has helped spur its interest in wind power, an industry where it now leads the nation. It may be counterintuitive, but there's a sense among state politicians that if Texas has the institutional expertise to do energy, that should extend to renewables, too. In any case, we can see that oil and gas are important to Texas job creation, but hardly the whole story.

One more stupid claim Krugman makes is that Texas benefited from "regulation."

What regulation? This -- that when the rest of the country was following the Frank Plan for giving mortgages to those who didn't deserve them, Texas bucked the trend, and their banks continued with tight mortgage requirements.

So, um, Texas didn't follow the federal liberal stupidity on mortgage issuance and as a result did not have a catastrophe in the housing market, and this proves he's stupid or benefited from "regulation."

Bear in mind, the Frank agenda consisted of using leverage and political threat to force banks to loosen requirements -- i.e., the mortgage disaster was due to "regulation" -- government intervention in normal business practices not to increase stability and reduce risk, but to increase risk, to achieve a social-policy result-- not due to too little of it. Banks, left to their own devices, had long required sizable downpayments and proof of income, for obvious reasons.

So, fail again.



digg this
posted by Ace at 06:55 PM

| Access Comments




Recent Comments
Aetius451AD: "Because the natural tendency will then be, well it ..."

tubal: "A SC justice bitching and whining about the unfair ..."

Sponge - F*ck Joe Biden: "And it's ALWAYS about the children, right up to th ..."

Divide by Zero [/i]: " "No, the precedent was Hatfield v McCoy in 1834. ..."

Eeyore: "Israel as "A Pariah" Among the Nations _______ B ..."

[/i][/b][/s][/u]I used to have a different nic: "Good morning horde! ..."

Redenzo: "Remember how Trump got Pelosi to defend MS 13. Tru ..."

Martini Farmer: "Yonder Horde ..."

Sponge - F*ck Joe Biden: "[i] social media platforms were allowing a dangero ..."

ZOD: "ZOD. ..."

tubal: "6 FIRST!!!!! Posted by: Sponge - F*ck Joe Biden a ..."

NR Pax: "[i]There were situations, she suggested, in which ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64