Like politics, the economy feels very local these days. Last week we were in Austin, Texas for spring break. What a difference from the northeast. Not just the weather, which would have been enough. From one vantage point I counted 12 building cranes in the city.  Tech is growing here and there is a big influx of talent every day.  There are quality condos within 15 mins of downtown for $100k. Parks, cool restaurants, music and an overall positive sense of opportunity that is so different you would think the financial crisis never hit.

Of course their economy was never as tightly linked to the ups and downs of the global capital markets and they are growing real economy businesses in a state with no income tax that’s not far from California.  And real estate did take a beating in the financial crisis so this could be the cresting of the wave before it crashes again.  They are dealing with major water issues.  Look at pictures of Lake Travis now and 10 years ago.  Still it was a nice change from the downbeat vibe of scarcity I often pick up in New England and the Tri-state area. It was an unexpected boost to my optimism for the economy, assuming Texas doesn’t make good on the seemingly annual threat to succeed.