Rick Perry’s economy: good luck.
As ace notes,
Good luck is the product of good design. Bad luck is the product of bad design.
I avoid Krugman whenever possible, but apparently,
One more stupid claim Krugman makes is that Texas benefited from “regulation.”
What that means is that Texas banks continued to treat credit-worthiness as an important factor in lending, unlike the rest of the country brow-beaten by the Frank-Dodd bullying. So their housing market just sagged instead of collapsing.
ace has that covered. I wanna comment on the oil bidness.
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.
Er…isn’t that the same domestic industry that Obama keeps crippling? On purpose? While encouraging Brazil to expand its production?
“Luck”. Obviously…once again…it’s Inigo Time!
Say, Einsteins…maybe having the government on autopilot is what a booming economy needs.
Somewhere up there, Robert Heinlein is laughing his ass off.
Um, thanks for the links and all, but I find Ace not very enjoyable. He’s too much like Rachel Maddow. But, I did appreciate the takeaway offered by the Political Math blog (h/t: Richard Fernandez):
“If Rick Perry had nothing to do with creating jobs in Texas, than why does Obama have something to do with creating jobs anywhere?”
Political Math, by the by, has a positively stupendous de-bunking of Paul Krugman’s B.S. about the Texas economy. It’s worth a skim (unless you already know not to listen to Krugman, which I suspect is the case for most who visit here).
ace can be hilarious, at least to a geek. In 2004, I think, he analyzed the Democratic Presidential candidates as if they were D&D players, and it made me laugh my butt off.
That P.M. site is new to me, but the writer is very very sharp.
Throughout history, poverty is the normal condition of man. Advances which permit this norm to be exceeded — here and there, now and then — are the work of an extremely small minority, frequently despised, often condemned, and almost always opposed by all right-thinking people. Whenever this tiny minority is kept from creating, or (as sometimes happens) is driven out of a society, the people then slip back into abject poverty.
This is known as “bad luck.”
President Obama surely is trying to create a lot of Bad Luck, isn’t he.