The Regional Recession
7th December 2008
Steve Sailer is always worth reading.
One of the oddities of the standard narrative of the Housing Bubble is how it glosses over just how regional it was. In large expanses of America, there wasn’t much of a Bubble at all. The New York Times reports on the economy in North Dakota, where there was no Housing Bubble, no subsequent Mortgage Meltdown, and no Financial Catastrophe … so far.
Texas is doing just fine, thank you. Look at the places that are having the most trouble, and you’ll find their governments, state and city, are run by Democrats. Take whatever action you think is appropriate.