Fannie and Freddie
Column Published in syndication October 08, 2025There has recently been speculation regarding an initial public offering (IPO) to at least partially reprivatize Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), two huge public entities which buy mortgages from lenders to increase their liquidity, enable more mortgages, and facilitate homeownership in the US.
- Tags:
- mortgage,
- Freddie Mac,
- Fannie Mae
Business Dynamics
Column Published in syndication October 01, 2025There's a lot going on in the labor market these days, and it has recently been difficult to sift through the mixed signals to get a clearer picture of where things stand. Although some information suggests that the market is fairly stable all things considered, there are also frequent headlines regarding both layoffs and challenges for job seekers. The US Bureau of Labor Statistics (BLS) tracks Business Employment Dynamics which provides some insights into the underlying patterns.
- Tags:
- jobs
Progress
Column Published in syndication September 24, 2025There is some very good news on the climate front. Every US state reduced per capita carbon dioxide emissions from primary energy consumption between 2005 and 2023. The US Energy Information Administration (EIA) recently released data indicating that total US CO2 emissions fell by 20% over the period, even as population rose by 14%. The result is a 30% decrease in per capita CO2 emissions.
- Tags:
- carbon dioxide,
- natural gas,
- emissions
Talent!
Column Published in syndication September 17, 2025A large, growing, and well-qualified workforce is essential to ongoing economic expansion. Texas has an advantage over many areas in that our population is younger and, hence, has more people in childbearing age ranges. Additionally, the state has long been attracting workers from other parts of the country (and, indeed, the world). A recent report by Lightcast, a global labor market intelligence firm, illustrates just how well Texas is doing.
DPRIT
Column Published in syndication September 10, 2025Dementia is among the most difficult health issues that we face as a society, devastating to those affected as well as their friends and families. It touches virtually all of us in some way (my mother and maternal grandmother were both tragic victims). In addition to the extremely high physical and emotional toll it takes, which is by far its most compelling impact, Alzheimer's disease and related dementias involve very high economic costs. The proposed Dementia Prevention and Research Institute of Texas (DPRIT), which voters will have an opportunity to approve the funding for in November, can play a vital role in finding solutions.
Global Markets
Column Published in syndication September 03, 2025For much of the past decade, the US stock market has dramatically outperformed its global counterparts. A major reason is the emergence and dominance of the US technology sector and the rapid expansion of "mega-cap" companies such as Alphabet (Google), Apple, Meta, Microsoft, Amazon, Tesla, and Nvidia. However, there are signs that international equities may be making a comeback.
- Tags:
- international,
- stocks,
- United States
Money Matters
Column Published in syndication August 27, 2025The US financial landscape is seismically shifting, and it's surging toward Texas. The establishment of NYSE Texas, NASDAQ's regional headquarters in the state, and the new Texas Stock Exchange (TXSE) are indicative of the ongoing decentralization of financial activities and the emergence of Texas as a major competitor.
JOLTS
Column Published in syndication August 20, 2025Despite the current challenges--from geopolitical tension to tariffs--the Texas labor market is holding relatively steady (even with a modest recent monthly decline in June) and even improving in many areas. Texas added 232,500 jobs over the past 12 months, representing a 1.6% growth rate that was significantly above the national rate (0.6%). In addition, a wide range of industries are adding jobs, always a positive signal.
Disruption
Column Published in syndication August 13, 2025"Creative disruption" is a process by which the invention of one very useful thing brings major changes for many others. It is related to "creative destruction" (the rapid obsolescence of some activities as new mechanisms emerge) which dates back to sociologist Werner Sombart over a century ago and was brought into mainstream economic thought by Joseph Schumpeter in the 1940s. These phenomena happen frequently in niches across the economy. For example, telephone switchboard operators largely went away due to automation. These disturbances are healthy and, indeed, essential to progress, but can engender very difficult transitions.
- Tags:
- productivity,
- artificial intelligence,
- jobs