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« Trivia Tidbit of the Day: Part 791 -- Obama's Definition Of Too Wealthy. | WILLisms.com | Trivia Tidbit of the Day: Part 793 -- Does Internet News Make Us More Isolated, More Partisan? »

Trivia Tidbit of the Day: Part 792 -- Is Economic Recovery Here?

The Economy-

The Dallas Federal Reserve believes the economy, particularly in Texas, is perking up and is officially "in recovery" mode:

Economic conditions have firmed up in Texas over the past six weeks, and new data and anecdotal evidence suggest that a recovery is under way in the state. Texas payroll employment is growing at a modest pace, and the Texas Business-Cycle Index has increased for three consecutive months. Factory output is expanding, residential real estate is firming up, and retail sales and exports are rising. The Texas Leading Index continues to show gains, consistent with gradual improvement.

Definitely good news after a tough 2009 everywhere, and good news for retail sales in Texas:

retailrising.gif

Texas, as the number one exporting state in America for several years running, benefits disproportionately from a robust global economy. Rising exports are a very good sign:

Exports Are Rising Aided by the falling dollar and a pickup in global demand, real Texas exports climbed 7.6 percent in February, following an increase of 20.3 percent in the second half of 2009. Anecdotal reports from the April Beige Book confirm this increase, with transportation service contacts in cargo, rail and intermodal trade noting continued improvement in demand.

Relatively speaking, things are looking better in Texas:

leadingindex.gif

The lingering fears that many still have: will we have a "jobless recovery" or a "double-dip recession" over the short run in the United States. Those are both probable over the next couple years.

The real concern I have is over the longer run. We simply don't have a solvent fiscal balance sheet in America, and there are no serious steps being taken today to fix that imbalance.

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Previous Trivia Tidbit: Obama Losing Independent Support.

Posted by Will Franklin · 5 May 2010 10:19 AM

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