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I mean when a metro like San Jose increases it's GDP per capita by 50k in 5 years(That's more than entire countries like the UK, France, Japan), clearly, there's a bubble somewhere in there. The Tech industry is overvalued right now. The correction will hit Tech the hardest. It'll be interesting to see what the GDP numbers look like in a few years.
But that would affect everyone as every single place has some sort of a tech industry nowadays. Not to mention that through tech, the world economy is more intertwined than ever before. Some areas may be hit harder with a correction, but let’s not pretend that everywhere would be shielded by it.
I know that’s not a popular sentiment in a forum full of people trying to boost where they live, but the reality is that hoping for a segment of the economy to tank just so ___ city falls, and not expecting any kind of fallout to affect your city, is dumb.
But that would affect everyone as every single place has some sort of a tech industry nowadays. Not to mention that through tech, the world economy is more intertwined than ever before. Some areas may be hit harder with a correction, but let’s not pretend that everywhere would be shielded by it.
I know that’s not a popular sentiment in a forum full of people trying to boost where they live, but the reality is that hoping for a segment of the economy to tank just so ___ city falls, and not expecting any kind of fallout to affect your city, is dumb.
It’s not a zero sum gain.
Looks like you're making a lot of unfounded assumptions about what he meant by his statement. I saw nothing that resembled any sort of cheerleading of SV's fall in his post.
In the last 5 years, the average increase in the Chicago area GDP is over $22B per year. Dallas' average increase is at just over $23B per year. While the percentage for Dallas is higher, the amount of total GDP gained over these years between these 2 places is about the same.
I wonder how long this will continue? Dallas may really start to catch up in 10-15 years when the MSA's are around the same population.
I wonder how long this will continue? Dallas may really start to catch up in 10-15 years when the MSA's are around the same population.
Dallas is virtually a twin-cities. Ft Worth has its en identity to that differs from Dallas. Growth so far is solid.
But even Dallas was because of pension debt and other debt. Had its mayor claim it was near bankruptcy. Then it went away. I'd say the state did a helping hand. Did you ever check out Texas debt per person?
Its higher then Illinois. Booming yet debt that has quickly increased might surprise you.
As for Chicago. Its Core s far from having top companies ignore it. The metro is still large and with power. But Chicago's Core has no equal in these newly booming cites. Not anytime soon.
In business circles. Chicago is still a Big Player and on the Global stage. No one should write it off. NYCs debt is astronomical. The state is also in debt more then Illinois. Despite the wealth of mighty NYC.
You can just Google - the real-time debt clock. The National debt all can take you to each states debt per person and % of GDP.
Just clock on state debt clocks box on top for others.
But clearly, relocations of companies is their major reliance. From California is big right now. But SF or LA isn't hurting too badly in loses it seems.
As another said. Despite Chicago overall not growing. Its high-end share is and it still is a player in GDP stats.
I wonder how long this will continue? Dallas may really start to catch up in 10-15 years when the MSA's are around the same population.
Dallas's GDP is $175B behind Chicago's. If it hasn't caught up already, it's not about to happen in the next decade. Even as Dallas has boomed, Chicago has basically matched what it's done.
Chicago's GDP has increased $175B from 2010 to 2018. Dallas's GDP increased $141B. So even as Dallas booms, the difference in GDP between Chicago and Dallas increased by nearly $35B since 2010.
Last edited by marothisu; 12-14-2019 at 07:57 PM..
It's actually difficult to get industry data for all CSAs and MSAs in a single chart because some industry data in some areas is actually confidential for various reasons.
For example, that's why DC- Baltimore is not on this list-it's confidential probably for national security reasons(defense contractors and related spending).
It's actually difficult to get industry data for all CSAs and MSAs in a single chart because some industry data in some areas is actually confidential for various reasons.
For example, that's why DC- Baltimore is not on this list-it's confidential probably for national security reasons(defense contractors and related spending).
But I digress.
As others always say. Chicagoland gains very little as a CSA vs Metro. Mostly some fringe rural areas. But in all fronts you use CSAs. It is a stand alone metro. Till more Milwaukee suburbs get included. But not soon.
Considering NYC along with London is the financial backbones of the world economy, I'm not surprised by that amount.
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