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Facts are presented, backed by financial specialist, and people dispute the credibility of the studies
No one is disputing Chicago as a business center. We are disputing that its the 2nd most important city in the United States.
Neither Downtown1 nor any other Pro Chicago booster provided anything outside of business and economics to prove any relevancy outside of those 2 fields.
You just admitted you weren't a finance major...so why keep talking about stuff you don't know about it??
So you have to be the finance major to talk about financial markets? what about architecture? Are you architecture major as well?
Quote:
Originally Posted by Gtownoe
GDP is not the only representation of economic importance.
There is no "economic importance" other then economic strenght reported as product or output. LA output is $200B larger than Chicago's, it's very simple to establish who is stronger here....
Quote:
Originally Posted by Gtownoe
If the CBOT/CME crashed financial markets worldwide would crash. Farmers would go out of business and there would literally be a period of chaos until things got fixed. If the CBOT/CME crashed the NYSE would crash and the global economy would be devastated.
So while GDP is a factor, its not the only one.
There is no "if" if NYSE crashed. CME Inc stock is traded on NASDAQ. I believe it;s crash would be more profound.
Anyways, we are not writing science-fiction or 'what if" scenarios. In real life LA economy is much stronger than Chicago's hence much more relevant to the entire US economy. Dissaperance of LA would create a hole of roughly $700B, Chicago's "only" $500B. That's an easy choice, right?
PS. I know, I know. To you and most Chicagoans LA is just a flashy and shallow La-La-land so it is hard to swallow that this La-La-land produces more than you, hard working, down-to-earth Midwesterners The commonly accepted rule in the scientific world however is that if facts to do not fit into a theory or a model you adjust the latter and not the facts.
Last edited by advocatusdiavoli; 05-23-2009 at 01:35 PM..
So you have to be the finance major to talk about financial markets? what about architecture? Are you architecture major as well?
There is no "if" if NYSE crashed. CME Inc stock is traded on NASDAQ. I believe it;s crash would be more profound.
You don't have to be a finance major, but it helps to be familiar with the financial system.
If either the NYSE or NASDAQ crashed it would be equally devastating for the country, and chances are if one went down the other would go down with it.
Btw, the NYSE is not a primary market. A primary market is where IPOs and underwriting takes place. The NYSE is a secondary market, which means it's an exchange where financial instruments are traded after initial public offerings (IPOs).
Unbiased the Chicago way, like honest the Blagoyevich way?
I presented hard statistical data showing LA output to be $200B larger than Chicago. No number of studies or research will ever change that fact. LA is just more relevant to the US and global economy than Chicago. Data vs. studies? What is more credible to you?
Tokyo has the largest GDP in the world...yet London and New York are considered #1 and #2 cities with greatest impact to the global economy....proving that GDP isn't the only important factor
Actually London's GDP is significantly smaller than LA's...yet London, along with New York, reign at the top. Hm??
Why isn't Tokyo #1??? Its the largest GDP in the world! London is smaller, why does it reign at the top of the scale along with New York????
advocatusdiavoli, its the financial insitutions that exist in London and New York that place it above Tokyo, a city with a larger GDP.
Same thing with Chicago and Los Angeles, and since LA has no powerful financial institution and no dominance to the world markets, I assume Chicago would rank ahead. Hey, I'm just using the same formula
You are right I was not. Anyways it is New York that is considered a primary financial market in this country and not Chicago.
What is a primary financial market?
There are many financial markets in the US. New York is the world capital for stock trading due to the "financial insitutions" (familiar?) like NYSE & NASDAQ.
Chicago on the other hand, dominates derivatives markets and is the largest trader for raw materials, not New York....or especially Los Angeles.
There are many financial markets in the US. New York is the world capital for stock trading due to the "financial insitutions" (familiar?) like NYSE & NASDAQ.
Chicago on the other hand, dominates derivatives markets and is the largest trader for raw materials, not New York....or especially Los Angeles.
Buddy, juts let it go. LA is larger, has higher gross metro product, has less crime and is the international capital of film making industry. Chicago does not have anything on LA.
It's a done deal and if it wasn't for Chicago homers the poll would have reflected it.
Buddy, juts let it go. LA is larger, has higher gross metro product, has less crime and is the international capital of film making industry. Chicago does not have anything on LA.
It's a done deal and if it wasn't for Chicago homers the poll would have reflected it.
Lol...if u read my post starting with "Tokyo has the largest GDP..." then LA being larger and having a larger GMP would be completely irrelevant. I win, you lost...get over it.
LA is the capital of film making...then again, who cares?
Lol...if u read my post starting with "Tokyo has the largest GDP..." then LA being larger and having a larger GMP would be completely irrelevant. I win, you lost...get over it.
LA is the capital of film making...then again, who cares?
Most of the world buying one of our more succesufl exports and LA's economy which in result pumps almost $700B into US economy. Chicago pumps almost $200B less so it should sit quiet.
Most of the world buying one of our more succesufl exports and LA's economy which in result pumps almost $700B into US economy. Chicago pumps almost $200B less so it should sit quiet.
Of course, but buying and trading futures contracts (food distribution) and raw materials produced in this country to the rest of the world is far more important than anything that happens in La-La land...sorry bud. I can live without movies, but not without basic necessities of life
Of course, but buying and trading futures contracts (food distribution) and raw materials produced in this country to the rest of the world is far more important than anything that happens in La-La land...sorry bud. I can live without movies, but not without basic necessities of life
In economics, as opposed to story telling, if something is important it produces significant output...
That must be hard to swallow, this flashy, lazy La-La-Land produces $200B more than hardworking, down-to-earth Midwesterners
You may want to revise your opinion about who is flashy and lazy in this country...
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