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The Egocentricity of the Present Part 22 of 22

The Egocentricity of the Present Part 22 of 22

The housing crisis may not yet have run its course, and further danger could lie ahead both for the nation and also for Texas. We may seem Stock Teacher isolated from the rest of the nations woes, but we are not immune from the dangers they pose. Still, as I survey the Texan economic landscape, I sense we have an opportunity here. Our economy is growing. Were an affordable and wonderful place to live. And we hunger for workersas recently as this morning I heard anecdotal reports of labor shortages in parts of Texas.

The U.S. economy will continue to suffer from a bout of anemia while the housing and financial markets settle down. I take comfort, however, in knowing that markets eventually clear if we at the Fed do our job and the other regulators and fiscal authorities do theirs. Even in the egocentric present, when gloomy analysts lament unprecedented problems, we must never lose faith in the economic machine that has propelled the U.S. economy to unprecedented prosperity. You need look no further than to what is happening in our own state for proof of our nations inherent resiliency. All I ask of you as San Antonians and as Texans is that you continue to serve as the exemplar of what can be accomplished by properly managing risk and turning The Way to Trade; Author John Piper unprecedented problems into unrivaled opportunities, as Americans have done time and time again.

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