The strange, conflicting signals the economy

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The strange, conflicting signals the economy

It helps to look at Williston, North Dakota, in about 2010 to understand the strange, conflicting signals being sent by the U.S. economy right now.

North Dakota was in the midst of an oil boom. Scores of rigs were drilling hundreds of wells, filling up train cars with crude because there hadn't been time to build a pipeline. Anyone who wanted a job could find one, even the teenagers who dropped out of high school to work in the oil fields. Wages went up. Fast-food restaurants offered signing bonuses. State coffers filled with tax revenue.

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