Lone Star Liberty

Amidst all the constant fear mongering from the media concerning the alleged recession that is supposedly sweeping the nation it can be enlightening to actually look at facts. The unemployment rate for the state of Texas in April was just 4.1%. That is 1% lower than the national average. Many economists consider an unemployment rate of 5% or lower to be virtual unemployment. The street corners in Austin do a wonderful job of explaining this. Not everyone who is unemployed actually wants or is looking for a job.

Texas has one of the healthiest economies and job markets in the U.S. Why then do we need to spend hundreds of millions of dollars each year to subsidize businesses? Does anyone actually think that these subsidies are the reason why the Texas economy is so strong? The media is creating an inaccurate representation of the state of the American economy. The U.S. has yet to actually have a single month of negative growth since the sub-prime mortgage meltdown. Guess what? You don’t have a recession if you don’t have negative growth.

I believe that the media is trying to create a false panic in order to get government even more involved in the economy. Many media personalities are crusading against the free market and calling for the government to regulate its “excesses”. The truth is that the national economy is not in bad shape and the Texas economy is doing great. Yes, the free market makes mistakes. The mortgage crisis was clearly a large scale error of many companies in the free market. The free market also corrects its own mistakes as long as government does not burden it down or introduce artificial fluctuations. Fear not fellow Texans, the next great depression is not around the corner. The market has not failed completely, it just made a large mistake that is already rectifying.