Does anyone remember the Texas recession of 2017? That banking crisis was lit. What? There wasn’t one? I thought Fintwit called that one
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For the record, the Texas economy faced an 80% drop in crude oil prices … and not much happenedpic.twitter.com/uDOCVEpIS0
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Do you have an opinion as to why this did not happen? I'm in Texas now...it is booming.
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If I had to guess: 1. Energy from 20%+ of GDP in 1981 to 10% today 2. Texas banking regulations after 1980s crisis 3. GFC washed out excesses 4. Banks grew capital after GFC 5. Texas Rainy Fund 6. Booming housing and relocations
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Also, big shift of rigs to Permian in 17 as that was one of few places were the math allegedly worked.pic.twitter.com/YHTD2IPaLF
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