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Just see for yourself, if you can provide a legitimate source for your metropolitan statistics for Chicagoland and the Bay Area then I'll go with it, but for now I'm going to refute it.
Also, I've lived in Chicago majority of my life, I now go to school in Austin, I'm not just a Houston defender, but I defend Chicago more. lol
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by adavi215
I have a problem with the accuracy of the second list. Charlotte, which has a higher GDP than Cleveland is not even ranked. Go figure.
I agree, I'm not trying to say Houston > Chicago or anything or Chicago > Houston, but I don't quite follow that second link either. It seems very out of date OR inaccurate. But that's just my opinion, I don't know for sure, I'm surely going to look into it.
In 2007, the area ranked first among U.S. metro areas in the number of new and expanded corporate facilities. It ranked third in 2008, behind the Houston Metropolitan Area and the Dallas-Fort Worth Metroplex. The Wall Street Journal summarized the Chicago area's economy in November 2006 with the comment that "Chicago has survived by repeatedly reinventing itself."
^ Found that under Chicagoland lol the internet can be a very resourceful place.
I admit, you're right, Chicago's GDP/GAP is currently higher than Houston's but Houston's is at a faster rate of growth than Chicago's. It'll eventually overtake Chicago.
I wouldn't be so sure of that. It will probably be a long time before that happens.
I agree, I'm not trying to say Houston > Chicago or anything or Chicago > Houston, but I don't quite follow that second link either. It seems very out of date OR inaccurate. But that's just my opinion, I don't know for sure, I'm surely going to look into it.
PPP (Purchasing Power Parity) is a different measure of Gross Domestic Product...GDP usually is composed of the following equation:
Purchasing Power Parity takes into account several different factors like Forex, interest rates, etc (ultimately it tries to find out to how much it costs to buy Product X in Country A vs Country B)...however I'm not sure how that would affect comparisons between domestic cities...theoretically I don't think it should unless they decided to break down the "Basket of Goods" comparison between local economies. This may be jibberish to some of you, so I won't go any further hah. It has been a long day and my mind is swimming.
Purchasing Power Parity takes into account several different factors like Forex, interest rates, etc (ultimately it tries to find out to how much it costs to buy Product X in Country A vs Country B)...however I'm not sure how that would affect comparisons between domestic cities...theoretically I don't think it should unless they decided to break down the "Basket of Goods" comparison between local economies. This may be jibberish to some of you, so I won't go any further hah. It has been a long day and my mind is swimming.
That makes absolute sense, I never looked at what they were measuring I just looked at the stats and quickly jumped to base a conclusion.
Thanks for clearing that up!
That makes absolute sense, I never looked at what they were measuring I just looked at the stats and quickly jumped to base a conclusion.
Thanks for clearing that up!
haha no problem...sometimes I type stuff and it makes total sense in my head and then I look at what I've typed and I'm like "holy crap, that's the biggest pile of jibberish I've ever seen". Glad to see this wasn't one of those times.
Now: Obviously Houston. (low unemployment rate)
Majority of the time: Usually Chicago. (higher GDP generated)
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