12/12/19, 2018 GDP by Metro Release... (cost, state, better, comparison)

[newgensandiego]

Originally Posted by As Above So Below...

Well, thats always been just a fear mongering talking point. People love to stoke fear. I was working in NYC one time and I met an African American girl who said shed never visit Texas because they hate black people and shed surely be killed. By the same token some people in conservative places try to vilify California the same way some liberals try to vilify Texas.

Oh, I know. I just thought it was worth pointing out

I am skeptical of some of the policies in California. Dont get me wrong, they work fine there but I dont know if they would work elsewhere. Two reasons:

1) California is incredibly popular, sought after, and has an amazing reputation for vacationers and in pop culture.
2) California dominates two very popular industries: tech and entertainment.

I agree that a one-size fits all approach does not work. But ultimately its failure as a state is that it overindulged on low-density suburban sprawl (which many sunbelt states will experience). The environmental, fiscal, transportation, and economic ramifications of this poor planning are the source of most of its problems today. But again, that's something that the U.S. in general will have to deal with because federal, state, and local governments subsidize an unsustainable land form.

Frankly, if you put California's economic policies in a place like Oklahoma, it would probably be a wasteland. But because California is so special, it will always be sought after no matter the policies they enact.

It's hard to speculate on this. For all we know, California policies in Oklahoma could have resulted in an environment more akin to Colorado...great universities, innovation hub, high quality of life, etc.

[Boston Shudra]

Originally Posted by 18Montclair

Per the definition, I think they seperated strong cores from each other, or rather, places that had an identity were their own metro area.

I’d love to see a map that shows the separation of “Canridge-Newton-Framingham” and “Boston”. I imagine it’s like “Middlesex County” vs “Suffolk County”?

[newgensandiego]

Originally Posted by Ant131531

https://www.city-data.com/forum/city...ad-2018-a.html

Well, I look at MSA and SF MSA had 7% black population and LA area has 6.3%.

SF MSA has a higher % black than LA MSA, but LA CSA has a larger % black than the bay area ("SF CSA")

So greater LA has a larger % of black people than the bay area. Both regions encompass two MSAs. You are welcome to arbitrarily compare only two, but there's more to the story.

As far as % black goes, these are the 2010 Census rankings:

1. Inland Empire MSA
2. San Francisco MSA
3. LA MSA
4. San Jose MSA

So again, your "regional" comparison is correct, but also pretty arbitrary.

[Bubb Rubb]

Man can’t we be happy that we didn’t have a recession the last five years and we’re all collectively growing? I’m still expecting the bull market to stop at some point but the last 8 years has honestly been great for all of us.

[newgensandiego]

Originally Posted by Bubb Rubb

Man can’t we be happy that we didn’t have a recession the last five years and we’re all collectively growing? I’m still expecting the bull market to stop at some point but the last 8 years has honestly been great for all of us.

Knowing that the $23 trillion national debt amounts to $175,000 per taxpayer, I'm a bit less enthusiastic. Also, the cost of housing, medical care, etc. continues to outpace wage growth. Our income inequality has skyrocketed too.

[Bubb Rubb]

Originally Posted by newgensandiego

Knowing that the $23 trillion national debt amounts to $175,000 per taxpayer, I'm a bit less enthusiastic. Also, the cost of housing, medical care, etc. continues to outpace wage growth. Our income inequality has skyrocketed too.

Yeah, I’m actually expecting some kind of default on the national debt at some point. And while wages have increased, they haven’t kept up with cost of living. Nor has minimum wage kept up with inflation, which is how minimum wage increases should be decided instead of a set amount

The credit rate has already been decreased so I’m expecting something big in the next year.

[Joakim3]

Originally Posted by Bubb Rubb

Yeah, I’m actually expecting some kind of default on the national debt at some point. And while wages have increased, they haven’t kept up with cost of living. Nor has minimum wage kept up with inflation, which is how minimum wage increases should be decided instead of a set amount

The credit rate has already been decreased so I’m expecting something big in the next year.

Most market analysis say we are scheduled for a recession in 2020 so I'm holding my breath on the current "boom" of ours

[Bubb Rubb]

Originally Posted by Joakim3

Most market analysis say we are scheduled for a recession in 2020 so I'm holding my breath on the current "boom" of ours

Yeah me too. I don’t think it’s normal that a country as large as ours has 8 years of straight growth. It’ll correct itself. Now whether the correction is a 10% correction or a 40% correction is a big question. Sometimes you need a recession to reset the market.

But if you aren’t an academic and worried about how to survive as a working person, welp!

[DabOnEm]

Originally Posted by Bubb Rubb

Yeah me too. I don’t think it’s normal that a country as large as ours has 8 years of straight growth. It’ll correct itself. Now whether the correction is a 10% correction or a 40% correction is a big question. Sometimes you need a recession to reset the market.

But if you aren’t an academic and worried about how to survive as a working person, welp!

I think part of the economic bubble bursting will be automation. Many people think it's just the fast food workers, grocery store clerks, or EVS workers, but increasingly we now know that accounting (as one example) will be another profession greatly downsized due to automation.

We are at the very start of the 4th industrial revolution that tech is currently driving, and the vast majority of people aren't even aware. Will be interesting to see how it all plays out. My advice to people has been to invest in cryptocurrency to be apart of the new wave, so at least you can live comfortably off those profits while people still investing in the stone age stock market are holding your bags.

[18Montclair]

Originally Posted by Bubb Rubb

What was the percentage GDP growth for the US between 2013-2018 for a baseline? I'm too lazy to figure that out right now lol

I went to the St Louis Federal Reserve Bank website to retrieve the national gdp from 2013-2018 as the interactive data at bea.gov for national gdp seems more laborious to navigate than for local data imo.

Anyhow, according to the St Louis Fed:

2013-2018 5-Year GDP Growth
+$3,793B UNITED STATES +22.17%
+$357.387B New York CSA +21.73%
+$314.589B San Francisco CSA +43.85%
+$246.740B Los Angeles CSA* +23.55%
+$143.330B Washington CSA +22.15%
+$127.397B Boston CSA +24.03%
+$120.268B Dallas CSA +29.37%
+$118.394B Seattle CSA +37.28%
+$113.477B Chicago CSA +19.13%
+$105.772B Atlanta CSA +32.07%
+$89.018B Miami CSA +30.29%
+$76.522B Philadelphia CSA +18.10%
+$64.235B Denver CSA +32.57%
+$59.322B Phoenix CSA +29.96%
+$56.142B Detroit CSA +21.53%
+$56.043B Houston CSA +12.99%
+$53.774B Minneapolis CSA +23.32%
+$53.627B San Diego MSA +28.00%
+$49.873B Portland CSA +33.66%
+$45.574B Orlando CSA +31.74%
+$41.708B Austin MSA +39.69%
+$41.116B Charlotte CSA +30.49%
+$39.767B Salt Lake City CSA +34.58%
+$37.278B Sacramento CSA +31.01%
+$34.437B Nashville CSA +33.81%
+$34.282B San Antonio CSA +33.87%
+$34.154B Tampa MSA +27.35%
+$32.054B Cleveland CSA +17.90%
+$30.454B Raleigh CSA +27.87%
+$30.082B Las Vegas CSA +31.99%
+$28.574B Columbus CSA +23.77%
+$26.663B Indianapolis CSA +19.91%
+$26.140B Cincinnati CSA +22.11%
+$25.210B Pittsburgh CSA +17.76%
+$23.000B Kansas City CSA +18.57%
+$20.438B St Louis CSA +13.33%
+$18.269B Milwaukee CSA +16.96%
+$13.628B Hartford CSA +12.96%
+$13.188B Virginia Beach CSA +14.37%