Social Media Bursting Bubbles

From Business Insider, an online news site, an article titled “This Guy Represents The Biggest Bubble Yet” talks about how Keith McCullough, CEO of Hedgeye, thinks politics is the next bubble.

The story is really shallow, but it made me think of the bigger picture. If there is a bubble it’s actually part of a transparency bubble that exists in every private and public sector. If it bursts it will be because the sector didn’t share the truth with their customers or constituents. This is a growing concept in social media and it pervades the latest generation(s) of workers/voters. Basically the concept says, “if you can’t converse with me and be honest then I don’t want to be your friend and you can’t follow me.”

Doing a Google search for this topic I found a note-page on Facebook that was written by Keith McCullough that talks about the bubble of U.S. politics.

Budget cuts for Texas’ universities

In 2009 I said the recession isn’t over. I guess it needs to be said again – for future reference: history repeats itself! This is the third time I’ve gone through a recession or slow-down or bubble-burst in the 15 years that I’ve lived in Texas. In the public sector, especially higher education, I think the recession doesn’t really hit until 2 years after the worst of it hits the rest of the world. If we say the recession started in 2008, it was at its worst in 2009, then higher education can expect the worst (at least in Texas) in 2010-11. It’s no coincidence that the Texas legislature is deciding the biennial budget for 2010-11, and universities are facing huge budget cuts – some as much as $14 Million each year. The worst is still to come.

Texas A&M may have to cut $28 million out of its budget over two years. Source: Texas A&M looking for funds to cut after state mandate | The Eagle.

What does it mean to be the worst for an institute of higher education? It means the legislature cuts state monies going to the university systems. In Texas there are at least 6 major university systems: University of Houston System, University of North Texas System, University of Texas System, Texas A&M University System, Texas State University System, Texas Tech University System.

Texas A&M-College Station is in the early stages of identifying potential cuts. Officials have asked departments to prioritize projects in case the state doesn’t provide all the requested funding. Source: Texas universities to cut back after endowments hit | Dallas Morning News.

Second verse same as the first

Back before Thanksgiving I said Texas gubernatorial race is like musical chairs. Well, here’s the second (or third or fourth) verse. It’s the same as the first. On November 23, Houston Mayor, Bill White held a press conference to announce he will announce his decision to run for governor by December 4. As promised he announced yesterday that he will run for governor. After he made that announcement, Hank Gilbert dropped out of the race and endorsed Farouk Shami.

Meanwhile, Governor Rick Perry, the longest serving governor, made his announcement for an unprecedented third term.

Like Paul Burka says, “Perry is now fighting a two-front war.” One with Democrats in the general election and one with the Republicans in the primary. While most people think the primary will be a joke, Perry still has to be careful. The issues Perry raises in the primary wont be the same as the issues in the general election.

If you’re keeping a score card:

Republicans: Rick Perry, Kay Bailey Hutchison, Larry Kilgore, Debra Medina

Democrats: Bill White, Kinky Friedman, Farouk Shami, Felix Alvarado