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Texas: Separating Fact From Fed Fiction

Reflecting on how awesome everything was last year in Texas - ensuring your context is mal-adjusted to start with - Dallas Fed President Richard Fisher proclaimed to no lesser mouthpiece of the status quo meme than Steve Liesman...

 

...that he and some esteemed colleagues in the business community in Texas believe that the collapse in oil prices is a net positive for Texas:

"we will lose about 150,000 [oil-based] jobs, but we will pick them up elsewhere since we are a consumer society," and low oil prices is good for everyone.

Well apart from the absurdity of that statement to start with, the facts are...

Texas initial jobless claims are surging...

 

Retail spending shows absolutely no sign of low-gas-price tax-cut 'stimulus'...

 

and Texas' business indicators are tumbling...

 

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"News" - it's how they do propaganda these days!!