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Old 12-26-2016, 01:28 PM
 
Location: Sarasota, Florida
15,400 posts, read 19,563,470 times
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Instead Of Using Economic Numbers From Each State's Total GDP This Visual Speaks Volumes For Those People Who Dislike Those "Nerdy Numbers"! Economic Output: If States Were Countries, California Would Be France

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Old 12-26-2016, 02:33 PM
 
Location: Alexandria, Commonwealth of Virginia
1,609 posts, read 1,106,207 times
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Your title is missing a word!

And yes, the U.S. is an economic powerhouse.

Three states have bigger GDPs than G7 nations. Impressive!
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Old 12-26-2016, 03:53 PM
 
Location: Sarasota, Florida
15,400 posts, read 19,563,470 times
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Quote:
Originally Posted by manitopiaaa View Post
Your title is missing a word!

And yes, the U.S. is an economic powerhouse.

Three states have bigger GDPs than G7 nations. Impressive!
And What Would That Be?

Last edited by JMT; 12-27-2016 at 01:58 PM..
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Old 12-28-2016, 03:30 PM
Status: "Get off my cloud !" (set 17 days ago)
 
Location: Beautiful Northwest Houston
5,092 posts, read 4,935,776 times
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Quote:
Originally Posted by PITTSTON2SARASOTA View Post
And What Would That Be?

I believe he is referring to the word state ?
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Old 12-28-2016, 07:43 PM
 
Location: Denver
14,151 posts, read 19,749,193 times
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The Philippines GDP is at $811b, while Louisiana is at $215b?
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Old 12-28-2016, 08:11 PM
 
Location: SE Pennsylvania
368 posts, read 268,425 times
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so the united states as one is a true powerhouse.... but separated (which is ineviatible if we keep on the same road) 75% of these new countries are third world and improverished.

I do think if the US separates, it wouldnt be solely based on state lines, it also be along racial/cultural (Black American "New Afrika" and Mexican American "Aztlan") and geographic (for example New Jersey, Lower Hudson Valley Westchester Rockland n Orange, NYC, Long Island, SW Connecticut, Pennsylvania east of Susqueyana, and Delaware north of the canal, all as one country.)

Last edited by Spreadofknowledge; 12-28-2016 at 08:20 PM..
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Old 12-28-2016, 10:34 PM
 
1,827 posts, read 1,249,305 times
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Quote:
Originally Posted by Spreadofknowledge View Post
so the united states as one is a true powerhouse.... but separated (which is ineviatible if we keep on the same road) 75% of these new countries are third world and improverished.

I do think if the US separates, it wouldnt be solely based on state lines, it also be along racial/cultural (Black American "New Afrika" and Mexican American "Aztlan") and geographic (for example New Jersey, Lower Hudson Valley Westchester Rockland n Orange, NYC, Long Island, SW Connecticut, Pennsylvania east of Susqueyana, and Delaware north of the canal, all as one country.)
Keep in mind, this is comparing the size of economies without accounting for population. Most US states have GDP per capitas that put many developed nations to shame. Not to say GDP or GDP per capita is everything, they aren't, but just pointing it out because the former is what the map is comparing while your observation, in bold, is "incorrect" because of the latter.
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Old 12-29-2016, 08:22 AM
 
1,373 posts, read 780,772 times
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Quote:
Originally Posted by annie_himself View Post
The Philippines GDP is at $811b, while Louisiana is at $215b?
Such comparisons are very misleading and to be honest just stupid. They just compare the nominal GDP and don't consider the different price levels in different countries. Sometimes they use GDP figures that are adjusted for purchasing power. But this method is also flawed, actually impossible.
It seems quite common for the U.S. compare the GDP of U.S. states with whole countries. And then U.S. Americans are astonished that they have a reputation for being dumb and arrogant.
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Old 12-29-2016, 10:24 AM
 
1,827 posts, read 1,249,305 times
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Quote:
Originally Posted by lukas1973 View Post
Such comparisons are very misleading and to be honest just stupid. They just compare the nominal GDP and don't consider the different price levels in different countries. Sometimes they use GDP figures that are adjusted for purchasing power. But this method is also flawed, actually impossible.
It seems quite common for the U.S. compare the GDP of U.S. states with whole countries. And then U.S. Americans are astonished that they have a reputation for being dumb and arrogant.
Why would anyone use GDP PPP to compare economies? It is much more useful when comparing GDP per capita, in which case Louisiana destroys the Philippines, but not when comparing total economic output.
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Old 12-29-2016, 04:32 PM
 
1,373 posts, read 780,772 times
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Quote:
Originally Posted by Parhe View Post
Why would anyone use GDP PPP to compare economies? It is much more useful when comparing GDP per capita, in which case Louisiana destroys the Philippines, but not when comparing total economic output.

We can compare:

- GDP (nominal) for the whole state / country or per capita
- GDP (PPP) for the whole state / country or per capita

GDP (nominal) makes absolutely no sense. Because of volatil exchange rates and completely different price levels in different countries.

GDP (PPP) is a good idea but it fails because the obligatory common basket of goods for all countries doesn't exist. Even when such a basket of goods would exist, the PPP adjustment still fails because no statistical agency is able to collect the needed data and ensure that all countries use the same methods for the data ascertainment. No one is able to measure the quality of healthcare in different countries or is able to measure the quality of windows objectively.
Eurostat isn't able to collect reliable data about the price level in single EU countries. A reliable data collection even fails within one country. The federal statistical agency in Germany isn't able to ensure that all German states use the same methods to collect data. Even for such a seemingly simple figure like employment in manufacturing. It doesn't work.

Of course the economic output per capita in Louisiana is much higher than in the Philippines. For this insight no one needs questionable GDP figures.

There are GDP (PPP) per capita figures that puts even richer European countries on the same level like Missouri or Kentucky. That's completely absurd. Where should the high economic output per capita come from? Most industries in the U.S. are overstaffed. The work force is not really that well skilled. The level of automation is relatively low in the U.S. The U.S. has still jobs with an extremely low productivity that even doesn't exist in other rich countries.
The CD forum is full of threads like: Family of four with annual income of $115k feels unable to buy a house in a decent neighborhood, even in a second tier metro area. Or a single with a monthly net income of $1,800 can't afford a decent 1br apartment in a third tier city. Or look at the healthcare costs in the U.S. They are about 2.5 times the ones in other rich countries. What I want to express is that the price level in the U.S. is so high, that these PPP adjustments seem just plain wrong.
The construction costs for a recently finished huge distribution center for a large grocery retailer in NC cost about $120m. The same grocery retailer built a similar sized distribution center in Europe for just 70m Euro. That's quite a difference.

According to the IMF for 2015:

US GDP per capita: $56,084
German GDP per capita: $40,952

US GDP per capita (PPP): $56,084
German GDP per capita (PPP): $46,974

That means that a comparable basket of domestic made goods and services, that cost 1,000 Euro in Germany would cost about $1,270 in the U.S. That seems way too low for me. Just a few examples of goods that cost about double or more in the U.S.: Healthcare services, rents for similar seized apartments in similar neighborhoods on the same quality level, building material in DIY stores, domestic flights, internet and cell phone plans.
I live quite well in Düsseldorf, with a monthly net income of about 2,000 Euro. Can I achieve a similar living standard in the U.S. in a similar sized city with just $2,540? And would I be able to save about $500 every month? In Boston the rent alone would cost me at least $2,000.
Our sister city Fitchburg is one of the poorest cities in Massachusetts. Our other sister city Ronse in Belgium is one of the poorest cities in Flanders. Comparing both cities, Ronse seems to me definitely richer. Massachusetts is reportedly one of the richest states in the U.S. but it doesn't appears extraordinary rich to me. I have never seen so many rundown houses and so many poorly dressed people.
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