The Economy of Texas | Economics Explained
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This is Texas, the second-largest state in the USA by landmass, population, and GDP.
But perhaps being runner up is not so bad in all of these categories. Texas has for many decades been a huge driving force of prosperity, not only for the people within the state but also for all of the USA.
The state provides over 40% of the oil production in the country which is, in turn, the largest oil-producing nation in the world.
To give you an idea of just how massive this operation is, Texas produces more oil than, brazil and china combined.
Now for regular channel viewers, you might be thinking that well that’s great and all however, oil wealth doesn’t always guarantee prosperity, but fortunately for Texas, it has diversified itself into a host of other industries some of which are very far removed from what you might picture taking place in the land of cowboy boots and ford f350’s.
Texas today has the fastest growing population in all of the United States which is been driven by the state attracting a range of new businesses that will work with this young new professional demographic to continue to grow a strong economy.
Or at least that is the theory, the rumblings of the world in 2020 have not been easy on the Texan miracle, and for the first time in almost three decades, the state might be starting to show signs of troubled waters.
To see if this could be a hurdle the yeehaw state could not overcome we need to look at a few key areas.
What have been the industries driving the growth of Texas?
What is it about the state that makes it so attractive to these industries?
And what could future growth look like after 2020?
Oh and of course while we are here we are going to put the state on the economics explained national leaderboard.
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@EconomicsExplained 3 жыл бұрын
The first 100 people who go to blinkist.com/ee will get unlimited access for one week to try it out. You'll also get 25% off if you want the full membership.
@pauldefillippo8490 3 жыл бұрын
Are we ever going to get an episode on Australian States? A video about Victoria would be cool
@arniesawfularmchair 3 жыл бұрын
What about the first 100 people to YEEEEEEHAWWWWW
@TKUA11 3 жыл бұрын
Do you have a discount code off of a website that has videos of Biden sniffing children; and him saying cooky things ?
@bobthebuilder9339 3 жыл бұрын
Do Tennessee next, it a weird state.
@TKUA11 3 жыл бұрын
@@bobthebuilder9339 no do Oregon, it’s the weirdest State of all
@daviddavis4885 3 жыл бұрын
Y’know, Australia is just British Texas Howdy from Texas 👋 🤠
@EconomicsExplained 3 жыл бұрын
yeah thats about right
@henk-3098 3 жыл бұрын
But who is Texas' Texas?
@sarnginthebrave3285 3 жыл бұрын
But with higher taxes and a often unworkable level of gun control that prevents farmers and most rural people from just getting on with stuff
@soonerproud 3 жыл бұрын
@@henk-3098 Oklahoma!
@tescomealdeals4613 3 жыл бұрын
I'd call it a British Florida more so. You know with the beautiful reefs, hot but humid climate, wildlife (both flora and fauna) that everywhere you turn wants to kill you, the alligators, and the crazy people, the only difference is one is basically a capitalist Cuba and the other is a larger version of Alcatraz.
@Mr.Nichan 3 жыл бұрын
Me, a Texan, listening to an Australian to learn how my State's economy works.
@6lemans10 3 жыл бұрын
At least you are bettering yourself.
@Henricksenfamily 2 жыл бұрын
Me to
@thatvexiol 2 жыл бұрын
Me with Indian, french parents born in canada living in newzealand seeing a Aussie talking about texax while m visiting india
@perparim1079 2 жыл бұрын
In order to see how's your household is doing. You need to ask your neighbor lol
@Red-Magic Жыл бұрын
Crazy but...the study of economics isn't exclusive to Texans, and doesn't apply to just Texans
@TrickyDogNation 3 жыл бұрын
The Dutch economy analysis brought me here. Thanks EE, top notch channel.
@TimJavins 3 жыл бұрын
Same here
@2blkSSs 3 жыл бұрын
Hahaha same
@blestwynnz6634 3 жыл бұрын
Are you me? I also came from that video
@TrickyDogNation 3 жыл бұрын
@@blestwynnz6634 Yes I am also you, guilty as charged, we need a shower and to get a hair cut asap.
@TrickyDogNation 3 жыл бұрын
@Kevin Duggan I'm not just Dutch... I'm also Scottish, and all Kiwi. All good Kevin, my favorite place in the whole wide world is NZ. Feel free to come visit here, try n prove me wrong ;) Merry Christmas
@jai-kk5uu 3 жыл бұрын
It's STILL all good fun. 20 years later in history class: He is EE(Real name not spoken out of respect) the man who gave national identity to our non nation.
@EconomicsExplained 3 жыл бұрын
shhhh, don't give away the plan
@jai-kk5uu 3 жыл бұрын
@@EconomicsExplained sorry sir, please don't neuralyze me, sir
@ryanb9749 3 жыл бұрын
California wants to be independent too, lol
@NotHPotter 3 жыл бұрын
"Gave national identity"? Clearly, you are not a native Texan. We've identified as Texan before American since before I was born.
@totallynotme6720 3 жыл бұрын
@@NotHPotter what does he mean by non nation? Our capitol is better than most other country capitols lol
@tescomealdeals4613 3 жыл бұрын
In all seriousness I love the videos here and that there is an actual community. Whether it be the discord or interacting with your fans, I genuinely enjoy this channel and its contents.
@EconomicsExplained 3 жыл бұрын
thanks mate that feels great to hear :)
@peteblackburn7850 3 жыл бұрын
I like the way the videos are narrated and presented. Really good presentation. The actual analysis however, I don't think could be considered "good". EE gets away with it most of the time on single topic videos, due to their being relatively no comparisons present. This series of videos really brings the inconsistencies to light.
@Quickonomics 3 жыл бұрын
EE: "The economy of Texas relies heavily on fracking... and shows signs of *cracks in its foundation* ." I see what you did there! :)
@loki-of-asgard7877 3 жыл бұрын
I don't see fracking as a bad thing, but love the pun. Lol
@whynotsa6866 3 жыл бұрын
@@loki-of-asgard7877 true fracking isn't a bad thing, unless the person doing the fracking doesn't care about environmental damage to get what he wants.
@EconomicsExplained 3 жыл бұрын
haha to be honest this was entirely unintentional
@andrasbiro3007 3 жыл бұрын
@@whynotsa6866 Fracking also isn't really profitable, never really was and probably never will. It's insanely capital intensive and the wells go dry real fast. I think it's more like a political move against OPEC or Russia specifically. Or maybe just another market failure caused by free credit.
@whynotsa6866 3 жыл бұрын
@@andrasbiro3007 I did some glance at some headlines behind it. Tho its gonna be hard to convince the greedy
@BloodRider1914 3 жыл бұрын
To be fair about Austin, it's in many ways about as California as a place in Texas can get
@badluck5647 3 жыл бұрын
Texas likes to collect all its wierdos in one place.
@kebha6308 3 жыл бұрын
In Houston, people like to call Austin our own little slice of the west coast.
@Danielle_1234 3 жыл бұрын
@@badluck5647 California likes to too. It's called Silicon Valley.
@BloodRider1914 3 жыл бұрын
@@kebha6308 Even the rent's starting to push up to California levels
@VectorGhost 3 жыл бұрын
Texans absolutely hate Cali people in Austin.
@canadaehxplained77 3 жыл бұрын
I drove from Houston - San Antonio - Austin - Dallas - and back to Louisiana in 3 days last year. Really underestimated the size of the state.
@OfficialMarkieB 3 жыл бұрын
Texas is crazy huge! Took me like 13 hrs for me to cross the Top section of TX from Albuquerque back home to Kansas City. When I reached Oklahoma I was disappointed in how long it took ...SOOOO I put the hammer down and did 90 MPH in a super old 26 Foot UHaul ~ while towing 3K pounds 🤣🤣
@Piaseczno1 3 жыл бұрын
Too bad you shorted yourself on the back half. Well, there's next time.
@ajgorney 3 жыл бұрын
You can just about fit France inside of Texas, more or less.
@bustymcnutters801 3 жыл бұрын
Old saying from people traveling through Texas "The sun has risen, the sun has set, still here I am in Texas, yet"
@noegodinez1777 2 жыл бұрын
We don't drive in miles, we drive in hours
@just_a_turtle_chad 3 жыл бұрын
A turtle has approved this message.
@EconomicsExplained 3 жыл бұрын
thank goodness, I thought for a while there it was going to go unapproved.
@economicsinaction 3 жыл бұрын
This is the same one from Finding Nemo right?
@magivkmeister6166 3 жыл бұрын
Praise be to maturin
@bryanj2881 3 жыл бұрын
Thank you, congressman McConnell
@knockhello2604 3 жыл бұрын
Nice
@kaen_tqk3918 3 жыл бұрын
Always thought Texas' economy was purely on steak, bud light, grills, and guns.
@magnithorson6568 3 жыл бұрын
They are the only things that matter, so you're forgiven for thinking thay
@somedatussr4323 3 жыл бұрын
No, that's just what the people are made of.
@jeez5735 3 жыл бұрын
I live in Texas and it just depends on where you live. The south/south west region is like that plus cowboy boots. The central grassland area is like that plus a ton of guns. But the east side has a very small amount of guns and pretty much no cowboy boots and horses unless you live northeast
@DhirC35 3 жыл бұрын
And diesel
@DhirC35 3 жыл бұрын
@@jeez5735 the central grassland area sounds like the best
@MrCoolRibhu 3 жыл бұрын
Please do a video in any of these: 1. Economics of RCEP 2. Economics of Unregistered business ( which is a huge % in many developing countries ) 3. Economics of very small island countries ( by size )
@DerH0ns 3 жыл бұрын
Also taxation in developing countries
@hackerbrinelam5381 3 жыл бұрын
Loving the future potential videos
@theinfotainer3451 3 жыл бұрын
Yeah
@parkthebus 3 жыл бұрын
For your second point: kzfaq.info/get/bejne/raqqjaeQvqzDh58.html
@jacobcredh20 3 жыл бұрын
Good list. I was looking for the RCEP explained video when I found this one today.
@David-lr2vi 3 жыл бұрын
Texas also has a geographic advantage in being “in the middle” of the US. If your business is on the east or west coast you’ve got to travel the whole length of the country to get to the opposite side. In Texas they only have to travel half the distance, and so does their logistics (input products etc) provided their inputs are coming from somewhere else in the US.
@FarfettilLejl 3 жыл бұрын
But this was covered in the video
@somphs 3 жыл бұрын
In the middle of the country with port access as well.
@CalebHammerComposer 3 жыл бұрын
“Coal rolling Austin”... lol, I don’t think you know Austin
@cjmhall 3 жыл бұрын
Few people outside of the US have heard of Austin.
@Trist314 3 жыл бұрын
@Akash Guha Thakurata yeah Austin is very liberal for reference back in 2005 their county was the only one to vote against the ban on gay marriage so they have always been like that.
@randomname1579 3 жыл бұрын
Basically the only yehaa you see in Texas is the rural areas and southern border. The texas triangle is really mixed
@tacokoneko 3 жыл бұрын
@@randomname1579 if you want a backwater run down hick town that literally still looks like a wild west movie set look no further than Lubbock. The university campus is the only thing that's green, everything else is a uniform shade of dirt brown and caked in dust from the dust storms
@ex0stasis72 3 жыл бұрын
I know, right. Austin is like a liberal paradise in a conservative wasteland.
@Just_another_turtle 3 жыл бұрын
You have yeed your last haw.
@EconomicsExplained 3 жыл бұрын
hahaha, I don't know why I find this so funny
@tescomealdeals4613 3 жыл бұрын
YEEEEEEEEEEEEEEEHAAAAAAAAAAAAAAAAW
@pinkynandi8894 3 жыл бұрын
@@EconomicsExplained economics of chicken
@Libertino 3 жыл бұрын
Hilarious!
@bluesdealer 3 жыл бұрын
@@pinkynandi8894 chicken? I always thought Texans were more known for raising cattle and horses.
@Chris.182 3 жыл бұрын
EE: Our Texas video performed poorly Me: Well. Guess I’ve gotta go watch it
@RobCXS 3 жыл бұрын
legit
@jackhagan5553 3 жыл бұрын
Same
@doncolasanti9487 3 жыл бұрын
Yeah
@michaelcowling9928 3 жыл бұрын
Same
@Morgainz88 3 жыл бұрын
You didn't mention the difference in spending between Texas and California on a per person basis, it's not just about revenue.
@YogendraKalavalapalli 3 жыл бұрын
For some perspective, the size of the Texan economy is equal to the size of Canada's economy. California's is as big as the UK!
@iamrockness 3 жыл бұрын
As a Dallas, Texas born dude, it brings me great joy to see people finally starting to see the absolute power and value of our city and state. Dallas has a great vibe, design, and energy. We're a goldmine waiting to happen for larger companies wanting to find a new home.😎👌🏽
@MinecraftMasterNo1 3 жыл бұрын
Santa Anna: All your base are belong to us Texas: Hold my brisket
@quisqueyanguy120 3 жыл бұрын
Unpopular opinion: Texas started its war of independence because the Mexican Republic banned slavery in 1829.
@internetperson3436 3 жыл бұрын
@@quisqueyanguy120 that's a fact not opinion
@garrettallen7427 3 жыл бұрын
@@internetperson3436 also the forced catholic conversions and letting them be fodder for Native American raids, also taxes.
@cyclonebuzz8172 3 жыл бұрын
@@quisqueyanguy120 that is 100% false. Santa ana got rid of the mexican constitution and that started the revolution. The constitution is what made slavery illegal and Santa Ana basically made it legal again. Look up the 1812 flag that was flown at the battle of the Alamo. It's the mexican flag with 1812 on it. The year of the mexican constitution being formed and Texas didn't vote to leave mexico till after the battle of the Alamo and Goliad. After Santa Ana shot pows at Goliad and Austin tried to talk to Santa Ana before hostilities started. He was thrown in prison for two years for trying to work things out. Also only 1/3 of Texas population was from the united states. The rest were Tajanos and from other countries. The overwhelmingly majority being mexican citizens at the time and half of the army was Tajanos. Santa Ana was a dictator and spent 6 years conquering mexico. He then turned his attention to the territories.
@mappsmappings4025 3 жыл бұрын
@@quisqueyanguy120 no, it's because something about him becoming a dictator or something, then some cannon was stolen or something . . .
@bananalord8461 3 жыл бұрын
I agree that being 175 years old is mature
@AbdulGoodLooks 3 жыл бұрын
If you aren't 80 years old are you even an adult amirite.
@mikegarcia9346 3 жыл бұрын
EE: Texas has a GSP of 1.9T, easily one of the largest economies the world has ever known while not even being a nation, and is the fastest growing State in the union, so naturally it gets below 8. Me living in Austin: Wut n' tarnation?
@alwaysabiggerfish9564 3 жыл бұрын
That's a lot of Global Smash Power.
@aaronrobinson2121 3 жыл бұрын
Yeah I was really surprised he only gave an 8/10 for growth in particular. Like. how much more growth do you need to hit 10/10?
@kylesuds00 3 жыл бұрын
@@aaronrobinson2121 Is 8/10 effectively the max for the States? Bc I don't see a state growing faster than Texas
@martiddy 3 жыл бұрын
@@aaronrobinson2121 Vietnam got a 10 in growth since is the fastest growing economies in the world.
@scottrice370 3 жыл бұрын
Great 👍 point Mike!
@economicsinaction 3 жыл бұрын
The Economy of the Yee-Haw!
@alexn78666 3 жыл бұрын
"... coal rollin' Austin..." I think you could've done a bit more research on Austin.. Austin is about as California as you can get in Texas. The motto is "Keep Austin weird" for a reason. It definitely is not like the rest of Texas and is a perfect place for Tesla.
@ciceronroma 3 жыл бұрын
I still believe the proposal to build a wall around Austin to keep the rest of us Texans safe from them is a necessary and noble endeavor... I can see the movie now. Kurt Russell is a rootin' tootin' cowboy stuck in downtown Austin surrounded by walls. He grows desperate as the locals keep trying to cram poorly made breakfast burritos down his gullet along side some weird juice. "GET AWAY FROM ME! I NEED MY BRISKET AND OIL!" Escape from Austin. xD
@randommonkey4900 3 жыл бұрын
i live in austin suburbs and agree the city is very werid
@kebha6308 3 жыл бұрын
Yeah. Some Texans call Austin our own little slice of the west coast.
@randommonkey4900 3 жыл бұрын
@@kebha6308 ye
@TheAgamerman 3 жыл бұрын
I agree this was probably his biggest miss on the video. Austin is as much california than it is texas.
@jamesalias595 3 жыл бұрын
Texas has tech booms in the past that went bust. Compaq, Dell and TI for example. It also was a big player in the telecom industry that also went bust. I think the problem vs silicon valley is that Texas had it's tech industry spread out among 3 cites, DFW, Houston and Austin versus crammed into one location. There is also a lot of misconceptions, for example I worked for a corporation that decided to relocate most of it's IT business to NC, because it was under the impression that the triangle park area was a hot bed of IT. What I tried but failed to get them to recognize for example that DFW had twice the number of IT workers and a long history of tech workers. Perceptions versus reality. Texas is a lot more than oil, always has been.
@craftpaint1644 3 жыл бұрын
MCI was a thing, completely forgotten now - even as a bad example.
@mattbowdenuh 3 жыл бұрын
TI is still around doing its thing.
@johnhorner5711 Жыл бұрын
California's technology industry has a multi-decades long tradition of re-inventing itself through intense creativity. Texas industries are more about extracting money from things which already exist, be they crude oil or phone lines. I once heard Silicon Valley's secret desribed as mass scale "intellectual restlessness" .... the instinct driven by a burning need to always find a better way. This shows up in politics as well. The "progressive" mindset is "we can do better". The "conservative" mindset is "the old ways are great, don't mess with them."
@savishra 3 жыл бұрын
The last time I was this early, this place was officially a part of Mexico, dotted by English speaking settlers.
@Roiki 3 жыл бұрын
Since you've already done Norway and Sweden, do Finland. We need another score to fight over with them.
@vermasean 3 жыл бұрын
Another incredible asset in TX: Blue Bell Ice Cream 🍨 🛎.
@wreckingopossum 3 жыл бұрын
Whataburger Buc-ee's Dr. Pepper/7-up Blue Bell Texas Instruments Texas A&M Veterinary School Baylor Medical School Texas A&M College of Dentistry UT Southwestern Medical School Speaking of excelling in all things medical, University of Houston, I mean all things medicine and medical technology this is one of the leading top ten schools in the nation for medical, dental, biomedical engineering, orthotics & prosthetics, etc Home to Dallas Stars, Mavericks, Cowboys, Texas Rangers, and Houston Texans, Astros, FC Dallas and many minor league teams in every professional sport that people might watch on tv Speaking of TV, broadcasting studios for all the major news outlets here including Fox, ABC, CNN, etc.
@mattbowdenuh 3 жыл бұрын
Best Vanilla in the freezer section.
@thecrazed777 3 жыл бұрын
Blue Bell knowingly poisoned their customers and some died.. yuck.
@michaelcowling9928 3 жыл бұрын
@@thecrazed777 and yet we still love it. It's like saying, "I ate at that restaurant and I got robbed in the parking lot as I was leaving the place. Still though, best ribs in town... Minus two points for the robbery, 8/10 and I'm probably going back."
@thecrazed777 3 жыл бұрын
@@michaelcowling9928 no it’s more like saying the restaurant served you meat that had gone bad and it made you sick but you still want to go back. It was not an accident or random externality, they knowingly distributed tainted product.
@revaddict 3 жыл бұрын
Texas is really pushing through renewable energy and people don't really know this because of oil.. Combine that with the number of people and companies moving in, I see a lot of growth in Texas.
@cinemint 2 жыл бұрын
I'm about to say - my family's long-term land investment was pillaged and ruined by the state's desire to turn every square inch of central Texas into a windmill farm, so I've been directly impacted by this lol
@thewildcardperson 2 жыл бұрын
@@cinemint did you sell it
@cinemint 2 жыл бұрын
@@thewildcardperson they forced us to sell it for about a thousand dollars
@Stewiesan 2 жыл бұрын
SB 13 says otherwise
@mikedresel731 3 жыл бұрын
How about a video about one of these left-over US states like Alabama? As a negative example?
@Danielle_1234 3 жыл бұрын
If he does Alabama I hope he goes far enough back in time to when the French colonized it explaining some of the culture there today. Fun Fact: Alabama off the ocean is more liberal than most give it credit for. In comparison, other bible belt states tend to be more conservative.
@krisa5896 3 жыл бұрын
Alabama is a highly underrated state. Please don't spread the word, though, as I want to move there (from California) and not have house prices run up before I get there!
@mikedresel731 3 жыл бұрын
@@krisa5896 Then a video about the economy of Alabama would make even more sense.
@krisa5896 3 жыл бұрын
@@mikedresel731 It would. I just don't want the secret to get out! :)
@millevenon5853 2 жыл бұрын
@@Danielle_1234 is it more liberal than Georgia?
@PaulWaak 3 жыл бұрын
Despite my Texan pride vs California, I think this is pretty spot on. Then again, my job includes driving all over the state and listening to how people are doing, mostly economically. People who stay in one part of the state probably see things very differently.
@retrospectgaming8754 Жыл бұрын
why is it that people are proud to be against other americans? use to be the nation was prideful of all americans and unified as one despite political views. now every red acts like blue arent americans and pat themselves on the back calling themselves "real patriots" what a joke america has become because of this mentality.
@tbtran1RICH1 3 жыл бұрын
You can take a Texan out of Texas, but you can’t take the Texas out of a Texan. Proud Texan here, living in Nevada. 🤠
@kavky 3 жыл бұрын
@Fresh Turkey Never going to happen.
@fnamelname9077 3 жыл бұрын
Keep Nevada Great!
@BeanDar 3 жыл бұрын
Eww
@knockhello2604 3 жыл бұрын
Neat
@knockhello2604 3 жыл бұрын
@@BeanDar wut
@chillian12 3 жыл бұрын
Leaving a comment for the KZfaq algorithm.
@HAMpeach 3 жыл бұрын
Here because you commented on this video in your just posted Netherlands video. I wanted to say I thought your coverage of Texas was great and one of my favorite videos!
@sethgroves7693 3 жыл бұрын
While Oil is a huge aspect of the Texas Economy. I think something a lot of people miss about the Texas Economy is the Healthcare industry. The Texas Medical Center in Houston is the Largest medical center in the World and that’s not mentioning the other large Medical Centers in San Antonio and Dallas.
@rightwingsafetysquad9872 3 жыл бұрын
Very little of the Medical industry is a productive. For the most part it is civilizational overhead.
@heinuchung8680 3 жыл бұрын
@@rightwingsafetysquad9872 more so a service
@alfredolumba7936 3 жыл бұрын
As someone who has worked in healthcare throughout the northeast and in three Texas cities (Houston, San Antonio, El Paso) what Texas has done with healthcare far exceeds what you see in other states that have it has a big driver of their economy. Houston’s medical center and to a lesser extent San Antonio’s attract a lot of international patients and research dollars. As well those same medical centers attract students from across the country and world to study their which also brings labs and private enterprises that wish to be close to all those students, hospitals, and patients. Texas has really turned healthcare into something that may out last just taking care of the last generation. The only other city I have seen such agglomeration of research, academics, medical tourism, wellness would be Boston However Boston is much more research focused but Texas especially Houston may come to match that in coming years.
@Photonblastt 3 жыл бұрын
Never in my life I have arrived so early. edit: i was so early that i forgot to yeehaw
@Photonblastt 3 жыл бұрын
@Martin you will if you saw my daily schedule
@salokin3087 3 жыл бұрын
As Peter Zeihan has said before; after decades of lobbying, we can expect the next big climate change/intl energy agreement will be signed in Texas
@Bobelponge123 3 жыл бұрын
Zeihan becoming mainstream now huh
@noticedruid4985 3 жыл бұрын
@@Bobelponge123 well he is kinda right in alot of ways of you have seen any of his talks.
@Bobelponge123 3 жыл бұрын
NoticeDruid yeah lol he seems right about everything except Russia invading poland
@sdprz7893 3 жыл бұрын
@@noticedruid4985 He just makes sense but he hasn't been right about anything yet, he's actually been insanely wrong. You should see his predictions for the 2010s. Outside of predicting the EU starting to fall he way off on everything else.
@noticedruid4985 3 жыл бұрын
@@sdprz7893 well he isn't right about everything ya I can agree. But he's been right on others, I agree with his talks about the United states and how they were given a golden goose by way of natural geography.
@kolerick 3 жыл бұрын
"Texas has oil" "they need democracy!!!" "ohhh... wait..."
@raghuvenkatesan6792 3 жыл бұрын
LOLOLOLOL
@raghuvenkatesan6792 3 жыл бұрын
they already gave it to them in 1845 even before oil was found - they were way ahead of the game
@lozoft9 3 жыл бұрын
Actually, considering the gerrymandering and voter suppression that goes on with the decreasing distance between church and state and the influence of corporate interests, Texas is due for some democracy.
@alphajackal6648 3 жыл бұрын
@@lozoft9 The stuff that's gone down in Harris county is just shameful.
@user-rr9ng9bo9l 3 жыл бұрын
@@raghuvenkatesan6792 american thirst for oil breaks space-time continuum
@ek5384 Жыл бұрын
I did so much research when I graduated college to decide where I’m going to live. Texas was undeniably the best choice. The ratio of salaries to real estate was almost ideal. My salary would be more than enough to live a good life, buy a home, travel and save. The weather is awesome except from mid May to mid September. But even then the evenings are okay. I’ve never paid state taxes. The dating world is rich and diverse. I made solid friends within a year. Nature is gorgeous everywhere. Fire ants aside, I honestly couldn’t have made a better choice. I love Texas with all my heart ❤️
@thegamefactor0074 10 ай бұрын
Me a Houstonian hearing somebody say the weather is "awesome" after experiencing a month of 100+ degree heat.
@mohammadhamdan8269 3 жыл бұрын
Born and raised Texan here. Thank you for making a video on the best U.S state.
@wigglebot2368 3 жыл бұрын
Arizona is better
@BossFloYeaLike 3 жыл бұрын
Hey EE, I’m one of the ones who requested this video. Thank you for listening!
@Floof_Factory 3 жыл бұрын
I moved to Texas before everyone started moving here
@EconomicsExplained 3 жыл бұрын
I real Texan hipster I see
@Deathington. 3 жыл бұрын
The first Texan
@ec8107 3 жыл бұрын
Must have been rough fending off the Comanche.
@arniesawfularmchair 3 жыл бұрын
@@EconomicsExplained The first Texan hipster
@michaeljames6970 3 жыл бұрын
There's a tear in my beer and I'm crying for you dear.
@chopp6587 3 жыл бұрын
This is such an amazing channel. Amazing presentation of information as always, and for free! And the fact that this isn't in my curriculum is just disappointing. I find economics so interesting, and it's because of you! I very much appreciate every video that you make, and I'll always look forward to the next one. Keep up the awesome work! Yeeeeeeeeeeeeehaw bruuuther!
@dunnowy123 3 жыл бұрын
The fact that you can have a California and a Texas (let a lone the myriad of cities and regions) be so successful and so DIFFERENT shows you how incredibly dynamic the U.S. economy is. Other developed countries can't even come close to the flexibility, energy and resilience of the U.S. economy.
@freddyahs26 3 жыл бұрын
Texan here who has been following for a good 6 months. CHEERS M8. Stil in the commercials and have not seen what your analysis on my state is...... do me proud!
@ichbinein123 3 жыл бұрын
Howdy, my name is Rawhide Kobayashi. I'm a 27 year old Japanese Japamerican (western culture fan for you foreigners). I brand and wrangle cattle on my ranch, and spend my days perfecting the craft and enjoying superior American passtimes. (Barbeque, Rodeo, Fireworks) I train with my branding iron every day, this superior weapon can permanently leave my ranch embled on a cattle's hide because it is white-hot, and is vastly superior to any other method of livestock marking. I earned my branding license two years ago, and I have been getting better every day. I speak English fluently, both Texas and Oklahoma dialect, and I write fluently as well. I know everything about American history and their cowboy code, which I follow 100% When I get my American visa, I am moving to Dallas to work in an oil field to learn more about their magnificent culture. I hope I can become a cattle wrangler for the Double Cross Ranch or an oil rig operator for Exxon-Mobil! I own several cowboy hats, which I wear around town. I want to get used to wearing them before I move to America, so I can fit in easier. I rebel against my elders and seniors and speak English as often as I can, but rarely does anyone manage to respond. Wish me luck in America!
@systemchris 3 жыл бұрын
Is this a Simpsons joke?
@alphajackal6648 3 жыл бұрын
Wait, we have a dialect? Gotta be honest, when I moved to North Carolina I saw literally no change in how people talk, except maybe they use y'all a bit less.
@shramo 3 жыл бұрын
I love how Texas thinks it's so big and Australia is just like: "What, mate?"
@ashtoonian9481 3 жыл бұрын
and yet texas has a higher population than Australia
@thekoalakingdomshow6319 3 жыл бұрын
@@ashtoonian9481 and it isnt a country lol
@rodrigo445678 3 жыл бұрын
Texas has a bigger GDP.
@nafismubashir2479 3 жыл бұрын
@@ssik9460 2/3 bhai
@ssik9460 3 жыл бұрын
@@nafismubashir2479 parthokkho ki?
@Day10202 3 жыл бұрын
Wow you covered my home state! Loved the channel man. I’m joining the Patreon! Keep it up!
@sarasotauptoseattle 3 жыл бұрын
I love your dedication to what you do. You do it well. Another great video.
@tylerthelen485 3 жыл бұрын
You've opened a door now with your state leaderboard. With that said I think that a video about Michigan is absolutely crucial.
@charlesb4958 3 жыл бұрын
Good job! I am a high school social studies teacher in Texas and am planning to show this video next year because it explains our state economy better and in a more interesting way than I ever could. In the video, I thought you mentioned you made a video abut OPEC. Did I hear that correctly? If so, could you link me to it? Thank you for doing your best to explain a great deal of economic complexity!
@maxkilla16 3 жыл бұрын
Texas has been great to me and my family.
@ryanlemmers5300 2 жыл бұрын
I got pulled over in Texas shortly after relocating there from California by way of Wyoming in 2000. State Trooper in his ten-gallon hat dryly asked for my drivers license. His got really excited when he saw my Wyoming driver’s license. “Man, Wyoming is like little Texas - energy, cattle, open space, bbq, Bush-Cheney!…Have a great day, man!” Still have no idea why he pulled me over…probably the California license plate
@johnhorner5711 Жыл бұрын
Thank you for another fascinating video. Having lived and worked in both Texas and California I take a personal interest in your overview. As the economics leaderboard evolves, it would be interesting to include some metrics on educational attainment, worker re-skilling and up-skilling, as well as worker physical health. These factors have a major impact on economic performance over long time scales.
@SpecOps140 3 жыл бұрын
Where's my fellow Texans at?
@mattbowdenuh 3 жыл бұрын
Currently in San Antonio :P
@SpecOps140 3 жыл бұрын
@@mattbowdenuh Same lol
@dodobeebee7352 3 жыл бұрын
Moved to Colorado because I hate the Texas heat. I wish Texas had the climate and mountains of Colorado, then I'd still be there
@mattbowdenuh 3 жыл бұрын
@@dodobeebee7352 but you do get days in the 70s in november. Like today, 76 in San Antonio. But ya, the 4 months straight of 100 can wear on ya.
@DrSlobGoblin 3 жыл бұрын
Who's up for kolaches and barbacoa?
@andrewwinkenwerder5258 3 жыл бұрын
Sooo excited for your federal income spending vs taxes of the states video
@marshabennett7440 3 жыл бұрын
How does it feel to be the smartest guy on the block? No one else explains the fundamentals like you do. Thanks!!
@Connor-vj7vf 3 жыл бұрын
This is making me think a video on OPEC would be a really interesting one
@ohboy5227 3 жыл бұрын
EE: says "Nevoda" Nevadans watching this: *_stop_*
@fnamelname9077 3 жыл бұрын
It's not Spanish nor Portuguese nor Frisian nor Chinese! It's just American and it sounds similar.
@ZoltronLaser 3 жыл бұрын
Why do people from Nevada say the name of their state like they all moved there from Boston? There are two proper pronunciations for Nevada. One that the locals and people in Boston use, and the one that everyone else uses.
@ohboy5227 3 жыл бұрын
@@ZoltronLaser i actually don't really know, maybe it has something to do with my state being accent neutral or no accent. When I ask people they just say "look, there is no o in Nevada, thats why"
@FindTheTRUTH337 3 жыл бұрын
The O sound referred to is really an “ah” sound so that the end of Nevada is pronounced with a long “ah” sound interrupted by a letter d: Ne vah d ah. Nev a d a is a colloquial pronunciation that seems to require just a little more effort to enunciate than Ne vah d ah.
@JXY2019 3 жыл бұрын
I really like these state videos. Great content.
@Nuvendil 3 жыл бұрын
Kinda suprised there was no mention of Texas Instruments and Texas's major role in the semiconductor industry. TI alone holds 45,000 patents worldwide and is one of the ten largest semiconductor companies in the world.
@rightwingsafetysquad9872 3 жыл бұрын
Fun fact, in Texas it is considered self defense to shoot someone who says they’re from Portland or San Francisco.
@scottrice370 3 жыл бұрын
Of course it is RWSS!
@randomname1579 3 жыл бұрын
I don't think that's a fact
@nightshiftclips8403 3 жыл бұрын
I love how they start to run if you open carry your "Assault Rifle"
@courtneybrock1 3 жыл бұрын
HAHAHAHAHAHA.....Some coworkers of mine came into to town for SXSW, and one night as they were getting out of an Uber to get to their AirBnb, they walked across the yard of a traditional resident of East Austin. He promptly opened the door and shouted at them, "You gonna mow my lawn while you're at it??" They told me this story the next day and were like, "I have no idea what that guy's problem was, it's not like his lawn was even well maintained." I just put my forehead in my hand and sighed. I don't know to unpack that one. Although, I feel like there's a little more back and forth between Portland. I'd replace Portland with NYC
@dallyh.2960 3 жыл бұрын
@@courtneybrock1 they just walk across someone's property and think the guy yelling at them is the problem? That's really weird to me. You'd never do that where I live. Leave people's stuff alone.
@liamhodgson 3 жыл бұрын
At some point, I recommend doing the economy of Pennsylvania. Very interesting and weird, not the least because it is the state that first developed most of the big profitable industries (coal, oil, steel, computers, fruits, etc) but has then seen them migrate elsewhere and had to develop something else. What is next for PA? Also fun fact we make 80% of the United States pretzels apparently
@ethanwmonster9075 3 жыл бұрын
The best economies in my opinion are the ones that are able to hold their own even when times get tough.
@erkicman 3 жыл бұрын
7:06 Oh hey, a Texas Hold'em reference. Nice!
@alezar2035 3 жыл бұрын
Can you do the economy of Guangdong? It's the California of China, near HK but in China proper, a competition between the communism and the capitalism of the pearl River delta
@chaserpurple5195 Жыл бұрын
I'm a marine brat, and I went to high school in California. Californians' attitude about Texas was so funny to me. I remember having a conversation with one of my classmates, and she was talking about how she wanted to move to Texas when she was an adult and graduated college. She then got very serious and made sure that I understood that Austin was the only place in the state she'd even consider moving to. I remember thinking, "Oh, well that's the last place in Texas I'd want to live." The general consensus I would get from Californians, no matter their age, was that they considered Texas and Texans to be racist with backwards politics and funny accents, even while they were all fleeing there to escape the high real estate prices of their home state. Personally, my politics don't line up with urban California, but I'm a tech nerd, and I've always loved how strong Texas's state identity is. So now I'm going to university in Texas. And Californians' attitudes about Texas are indeed reciprocated, especially considering the raising real estate prices. It's been interesting to live in one place for years and then settle down in the other. The rivalry is very real.
@gardnzr 3 жыл бұрын
Just to mention: One thing I didn't hear was how California has been voting for more and more government programs over the last decades while Texas has a bit more of a conservative view on government size. It would be interesting to see a value breakdown on bonds from each of the states. Similar to what one would for for value investing in a publicly traded corporation but for the states. Thanks for your videos!
@pavelow235 3 жыл бұрын
I think MD Anderson Cancer Center may very well be the cancer curing hub in the next 30-50 years or so. YEEHAWW
@henk-3098 3 жыл бұрын
uhh okay?
@qq3088 3 жыл бұрын
@@henk-3098 If you had or have cancer, this would be news
@stuartg7507 3 жыл бұрын
My Dad went there when he had cancer and they are amazing!
@henk-3098 3 жыл бұрын
@@qq3088 sure, but it has nothing to do with this video.
@mikelevels1 3 жыл бұрын
Sir yes sir. Any Coogs in the house? Go Coogs!
@arrielradja5522 3 жыл бұрын
Please make the EU or Indonesia
@michaelmccuskey8113 3 жыл бұрын
Coal Rolling Austin? You ain't from these parts are you?
@bilboplayedminecraft3322 3 жыл бұрын
Interesting I appreciate videos on Texas
@FarfettilLejl 3 жыл бұрын
Thank you for making this video, as always - very informative and entertaining. Would you consider making a video on the economy of the European Union? Very curious to see how it compares to the rest of the world and what is your opinion of it
@BatCaveOz 3 жыл бұрын
"You should never go all in on a single hand, no matter how good your cards are..." - Mate, have you ever played no limits Texas Holdem?
@DavDaJa 3 жыл бұрын
"This! Is Texas." I've been waiting to hear this Aussie say these words for too long!
@johnsthebomb 3 жыл бұрын
Congratulations on 1mil, I’ve been here since 100k
@American_Gooner 3 жыл бұрын
Fantastic video.
@psiiota6004 3 жыл бұрын
0:53 North Star Mall in San Antonio. I grew up there, and called those the giants' boots. :}
@ginater9202 3 жыл бұрын
I drove past it today lol
@enemychaser 3 жыл бұрын
"If the USA can be called a controlled environment". I've never laughed so hard in a while 😂
@jai-kk5uu 3 жыл бұрын
What's the joke here?
@hanskover 3 жыл бұрын
@@jai-kk5uu That it isnt
@lurkag2672 3 жыл бұрын
@@jai-kk5uu The United States. That's the joke.
@fnamelname9077 3 жыл бұрын
It's so well controlled we don't even get real elections anymore!
@hanskover 3 жыл бұрын
@@fnamelname9077 Lol, true that.
@rushtest4echo737 3 жыл бұрын
EE Economy of Texas w/ 5 minute home mortgage interlude. Keep teaching!
@parknoyvimol1764 3 жыл бұрын
Me: pays KZfaq Premimum to avoid ads. EE: here's an ad.
@eckmann88 3 жыл бұрын
The dislikes are bitter Okies.
@Bobelponge123 3 жыл бұрын
Ok*****a
@xXJ4FARGAMERXx 3 жыл бұрын
I am liking this so that the number of likes(on this comment) may be the same as the number of dislikes(on the video).
@texasrangers90 3 жыл бұрын
I'm an Okie that loves Texas:) All my family is in Grapevine so my wife and I are down there a few times a year. Looking forward to watching a few ball games in the new Globe Life Field!
@Jacksonflax 3 жыл бұрын
As an oklahoman, You ain't wrong lol.
@RainsWorldVegasSlots 3 жыл бұрын
And liberals that hate liberty and think white people are racist 🙄
@Cameroner1 3 жыл бұрын
As a Texan, I feel like Austin's burgeoning tech scene should have gotten more mention. Amazon nearly put a head quarters there, and google actually did
@alfaseeds13 2 жыл бұрын
tesla now moving their hq to austin
@sisk22 2 жыл бұрын
not to mention arguably the best cancer center in the world (MD Anderson - Houston) and just incredible healthcare centers across the state.
@KingAsa5 2 жыл бұрын
@@sisk22 who would've ever thought Houston and Dallas had the Largest Medical districts in the nation and world.
@JMurph2015 2 жыл бұрын
Google actually didn't... The Austin office is relatively small. The two largest offices are the Bay Area and NYC.
@blakewenzhou9865 2 жыл бұрын
7:42 I love this little hill overlooking white rock lake, and the city. I used to come here all the time in highschool. Dallas is an amazing city.
@SundararajanSrinivasan 3 жыл бұрын
Wooot new EE video! Also obligatory yeehaw
@hecticenergy1233 3 жыл бұрын
Texas has 3 large metro areas. Though there is some overlap, here in Houston, the economy is still predominantly oil and gas, with medical a distant second (but closing that gap). There are tons of software and finance firms out here, but largely those are still heavily reliant on the oil sector. Dallas, on the other hand, is more of a financial hub, and Austin is rapidly growing its tech center. Some of this info may be a few years out dated, but those were the trends last time I looked. So, as a whole, I think the assertions line up, but people considering these trends should be aware of the bit of nuance of each of the major metros.
@BeastinlosersHD 3 жыл бұрын
The tech jobs that used to be in Austin seemed to be jobs at tech companies, and far less tech jobs at tech companies. Its getting a lot more tech jobs at tech companies now. I say this as a CS major just looking at who is hiring interns, as offices don't hire interns unless they are serious about being there.
@troymann5115 3 жыл бұрын
Texas has another large metro area: San Antonio. Its a smaller economy than the other three but still hosts a few tech companies.
@malachidrew8291 3 жыл бұрын
San Antonio is far larger than Austin, and is even bigger than the city of Dallas (though the SA metro area is smaller then the DFW Metro Area)
@nihouma11 3 жыл бұрын
Dallas is actually a huge tech center and game development center too. It's definitely not a silicon valley though, and definitely behind Austin, but still a decent tech industry compared to, say, Houston
@nopenope1186 3 жыл бұрын
What about cattle ?
@poprzedniodcinekobejrzapie5833 3 жыл бұрын
i think that the time is right to make video about Poland :P
@davidm.1548 2 жыл бұрын
That transition to the advertisement was smooth
@daddyteddy85 2 жыл бұрын
One of my favourite videos
@Kirtahl 3 жыл бұрын
I clicked in texan. This is quite an interesting one man. Also, the score for texas needs to be moved up .8 because we have most of the mexican food influence plus texas bbq and soul food.
@mattbowdenuh 3 жыл бұрын
Ya, food quality makes more productive workers so that should increase our economic score. And you forgot our cajun food on the gulf coast.
@Danielle_1234 3 жыл бұрын
California has some of the best food in the world and a very large variety of food, soo...
@TheMulletOperator_77 3 жыл бұрын
@@Danielle_1234 so do Texas and any major city
@HoldMyMushrooms 3 жыл бұрын
The other reason, maybe slightly more important, Texas can get away with no state income tax is that we pay a lot in property taxes. Especially if you live on the outskirts of a city with some acreage, but are in an expensive county.
@timothykeith1367 3 жыл бұрын
If you live in exurbia, you probably have a septic system, which requires at least one acre. In the last couple years, many Texas home owners have been hit with higher assessed values on the land that their house sits on. My property had been assessed at $10,000 for years, but its now assessed at many multiples of that, and next year it will be valued at who knows what? All the big Texas cities assess properties at near the maximum that the state allows. Some of these 1 acre properties may be subdivided sometime in the future when sewage systems are constructed. In 2020 its as if the property itself is a luxury.
@ajrobbins368 3 жыл бұрын
Howdy from Texas. You have my attention.
@kc_1018 3 жыл бұрын
I live in Texas. I have a job in IT/Engineering and I built a comfortable life here.
@haldir108 3 жыл бұрын
As a norwegian, i'm highly doubtful texas really noticed the quantities of oil we pumped up. Maybe in conjunction with the other OPEC nations, but not alone. Don't make us out to be a bigger deal than we are.
@spqr1945 3 жыл бұрын
This is the most Norwegian thing - being really humble.
@colinfarris4951 3 жыл бұрын
Texas resident here I know several people from here in Houston who traveled to Norway on a regular basis to work on Norwegian oil fields my family was given the opportunity but we decided to stay for family reasons.
@wigglebot2368 3 жыл бұрын
Norway is NOT an OPEC nation.
@buddaxkebab7092 3 жыл бұрын
It's all because of the flag. The fact that it is nearly entirely made up of polish flag makes this state best because of pure slavic energy))))
@mrinyourservice 3 жыл бұрын
you should do a video listing countries you've already reviewed on the economics explained leaderboard
@slocombreed1777 3 жыл бұрын
In the US real estate industry the "Loan to Value Ratio" is "LTV" not "LVR." Love the channel and watch all your videos! Cheers EE!
@zachnelson6376 3 жыл бұрын
Not sure how growth was an 8/10. Texas accounted for the entirety of the job growth for the entire nation for a long stretch of time
@waahmed7830 3 жыл бұрын
Because my this guy's metric 8 is the maximum for non independent states. It was the same for California
@4evraggie821 3 жыл бұрын
The stars at night, are big and bright *clap *clap *clap *clap Deep in the Heart of Texas!
@sandybarnes887 3 жыл бұрын
A song?
@troygarza5720 3 жыл бұрын
@@sandybarnes887 yup the texas anthem. All people born in texas learn this song it's taught in every school to this day. You can sing that drunk in a bar and everyone will sing it
@FindTheTRUTH337 3 жыл бұрын
Now it’s, “The wind turbine lights are big and bright 👏👏👏👏 deep in the heart of Texas!” Driving through Texas at night looking at the horizon filled with other worldly lights hovering over the ground was really kinda creepy and unnatural feeling. Oh well. Progress....
@troymann5115 3 жыл бұрын
Everyone talks about how much Austin is supposed to be the tech center of Texas, but I have found more tech activity in Houston and Dallas by far.
@timothykeith1367 3 жыл бұрын
That's probably true.