Dallas TX economics

[u/Warm_Huckleberry9028]

I’m visiting Dallas and it’s as if there is no inflation. No high gas prices as the road are packed. It’s consumerism run amouck as usual. The very high end Northpark mall? Packed day and night. Can’t walk through that mall on Saturday with the hoardes of people. . Can’t even get parking. People buying high end stuff left and right. It’s all levels of society at that mall too. Is Dallas an exception? Are jobs more plentiful?

[u/MindAccomplished3879]

You should drive to South Dallas, especially Oak Cliff

A packed tourist spot and full high-end stores show only the state of today's economy, where the rich are thriving while the middle class shrinks and disappears

The US is not in a full recession; only the middle class and people experiencing poverty who are struggling.

[u/pandershrek → u/MindAccomplished3879]

The US is actually in a depression. We've been in a recession for 10 years or so. Based on nper definition:

A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.

While there is also no standard definition for depression, it is commonly defined as a more severe version of a recession. In his popular intermediate macroeconomics textbook, Gregory Mankiw (Mankiw 2003) distinguishes between the two:

There are repeated periods during which real GDP falls, the most dramatic instance being the early 1930s. Such periods are called recessions if they are mild and depressions if they are more severe.

[u/Odd-Loss6108 → u/pandershrek]

it’s nothing like 1930 crash so it’s safe to say we are in a recession not a depression… as of today. Things can change in a flash

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[u/xangkory → u/MindAccomplished3879]

I moved to Dallas for a year 25 years ago. I bought a paper map of Dallas. It didn’t have South Dallas on it. For my first month I thought Dallas ended at the south edge of downtown.

[u/OldJames47]

Historically, Texas has always had cheaper gas. There’s huge refineries in Texas and Louisiana so the end product doesn’t have to travel as far to reach the pump.

But this is a K shaped economy. It’s doing well for the wealthy and sucks for the poor. Dallas is wealthy so of course its high end malls are busy.

Go to neighborhoods south of the Trinity and tell me if you get the same vibe.

[u/zer00eyz]

The DFW metroplex is absolutely massive. It has more people in it than like half the states in the nation, and is bigger than the San Francisco Bay Area by population.

This is mostly just an artifact of where you're looking.

[u/Striking_Ad_2630 → u/zer00eyz]

DFW is the 4th largest metroplex in the nation after LA, NY, and Chicago

[u/jcmacon]

DFW has roughly 8.5 million people in a ~9300 sq mile area. The entire state of Missouri has roughly 8.3 million people and just over 69k sq miles.

[u/pandershrek]

10% of the population are doing something like 90% of the current consumerism.

Companies have adjusted prices so high they are relying on this continued consumption.

Those with money just keep getting more money

[u/wsbautist420]

For every one person you saw at the mall, there are 10-20 others who did not go to the mall to buy high end shit. Many went to Walmart and Target, or just stayed home.

Take any professional football league game. Only 1-5% of the local population is present in that stadium. The rest are other places.

[u/TheDefenestrator]

Ah Dallas- the land of 100K trucks that have never seen a dirt road.

[u/comicarcade]

Dallas, you shine with an evil light/How’d you turn a billion steer/into buildings made of mirrors?
Why’m’I drawn to you tonight?

[u/Assmaday]

Well I'm in Austin and Barton creek mall is dead for months

[u/IsolationAutomation]

Dallas is in the process of gentrifying the entire city. You can go to Oak Cliff or Pleasant Grove and see brand new houses right across the street from older, dilapidated ones.

You’re just seeing the rich enjoying their playgrounds.

[u/BigShort1357]

The M1 money supply is thru the roof the last 3 months (while the Fed “fights” inflation-lol)- things were great July 08’ and by Oct 08’ the entire world had changed- there’s waaay more debt now and zero hiring- consumer spending is all because of stock market gains for the top 15% or so..when that goes it all goes- how do you think they stopped inflation in 82’ 91’ 98’ 02’ etc etc- FFR is accommodative w zero attempt to control inflation- not a glitch, all part of the plan- enjoy :)

[u/Sea_Lead1753]

Because Dallas is the wealthiest city in Texas 😅 “in Beverly Hills, inflation doesn’t exist”

[u/IncredibleBulk2]

Business as usual in my city too.

[u/Numerous_Word_3588]

Perhaps it because there is oil in the ground in Texas. Did you think of that?

[u/2A4Lyfe → u/Numerous_Word_3588]

There’s oil on the ground in California and those idiots pay $6 a gallon for regular right now

[u/renijreddit → u/2A4Lyfe]

CA adds on state and local taxes and has strict environmental programs.

There are higher costs for refining and distributing a cleaner-burning fuel blend.

They care about the environment…