Austin market defies U.S. economic drought, but faces real one

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When Win Butler, lead singer for the indie rock band Arcade Fire, took the outdoor stage at the recent Austin City Limits Music Festival in Texas, he told the audience, "I don’t know if we’ve ever prayed for rain before at a festival, but we are this time."

The sentiment is an entirely serious one in Austin, where a long-running drought, followed by literally thousands of wildfires, has cast an economic shadow in a region that hasn’t had a whole lot to be anxious about in recent years.