Originally published at: A FEW THOUGHTS ON THAT TEXAS STOCK EXCHANGE
So many people sent me the story about the Texas stock exchange and its connection to Blackrock, that this story must be our lead story for this week. The version of the story that will be the focus of today’s blog is that in The Gateway Pundit, which many of you saw and sent along. So…
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I live in TX and had not heard of this. Definitely a step in the right direction for the state to seek (even somewhat independent) financial infrastructure. It becomes a demonstration of governmental viability in the event of an exit or national breakdown. As I’ve mentioned on other threads here, the ‘Texit’ planners aren’t paying much attention to all the financial and trade implications of leaving the US. Others have also suggested something would have to be done about social security payments, and the portion of the national debt would Texas be obliged to assume upon leaving. Not adequately planning for all the various impact would leave the ‘nation’ of Texas begging to (re)join the USA in a very short time as it did in 1836 or so.
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I’m a bit surprised this is getting so much attention, as NAS working deal has been ongoing for a while. By no means is it a done deal. It all goes back to one element and that is infrastructure, which Texas does not have. It’s not just Texas, but no doubt everyone has noticed ‘infrastructure all over U.S. falling apart’ has been blasted out via media in recent weeks. Enter IIJA and NA BRI.
Texas is the flavor of the month right now. Granted, it’s lasted longer than a month, but look at the people and companies moving out, as well as moving in. Not enough infrastructure in place, incl. electricity, water, sewer, then there’s the attitude, etc. Many of the people who’ve moved in since 2017, after our last big hurricane (Harvey) have no idea what’s in store. People will continue to migrate in and out of Texas, and once another ‘big one’ comes ashore, it’ll be more out than in. As The Scorpions song says, (para) “And nobody in Texas is from Texas anymore”. There’s a few of us older stragglers left, but not many.
Many companies and people will go to fresh lands and build monstrosities, as they’ve done everywhere else. The up-and-coming place? West Virginia. You wait and see. A particular Senator has been very busy getting pipelines into the State, as well as beginning infrastructure repair and build-out before many of the others. Legislation tells the story, it just does.
To @XSEXCESS Yeah, social security and, if Texas becomes a sovereign Republic, that means it has borders that must be guarded. We’re not even successful at guarding the one to the south, much less the rest of it. I think TEXIT might also be a way of people (some of whom I know, personally) and legislators wanting to avoid taking sides when the fit really hits the shan.
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Rats are literally jumping on NYC subway riders.
We’ve seen enough!
Time for Wall Street, NYSE, ASE, to hitch up with Dallas.