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Wrong. The financial institutions can be easily moved to another locations. Honestly, to move NYSE across the rivier to New Jersey is not such a big deal (it almost happend once or twice) but to create the whole industrial infrastructure is a whole different story. Anyways, in real world financial importance is not based on opinions or statements but actual gross domestic products. Nobody claims the US is importante globaly because of the existance of Wall Street and CME but becuase of the sheer size of its economy expressed in a GDP. This is what makes countries and cities economically relevant. And that's why LA is more important economically than Chicago.
Financial institutions facilitate money through the economy. Remember the Great Depression? Wall Street crashed, America and the world suffered badly. You think NYC $1 trillion economy matters when Wall St affects the entire world? I don't think so.
Same thing apply for Chicago's financial institutions since they are the world's largest traders for raw materials.
Financial institutions facilitate money through the economy. Remember the Great Depression? Wall Street crashed, America and the world suffered badly. You think NYC $1 trillion economy matters when Wall St affects the entire world? I don't think so.
Same thing apply for Chicago's financial institutions since they are the world's largest traders for raw materials.
So what if CME crashed? We would trade the materials in Houston or LA week after or on another European exchange. It would not be as catastrophic as crash on the major stoick exchange.
Anyways, why are talking about what ifs? Is LA's economy larger than Chicagos or not? Is $700B more than $500B or not?
So what if CME crashed? We would trade the materials in Houston or LA week after or on another European exchange. It would not be as catastrophic as crash on the major stoick exchange.
Anyways, why are talking about what ifs? Is LA's economy larger than Chicagos or not? Is $700B more than $500B or not?
CME crashes, derivatives markets around the world crash. Food companies go bankrupt and lose deals regarding to food distributions. Mercantile items...all raw materials, the trade on them become severly impacted. It is very disastrous. No, we would not be able to trade it in Houston or LA a week after because CME does 9.2 million contracts per day...something goes wrong, things become VERY chaotic. Global trade in these markets becomes severly impacted as soon as it crashes...and you won't be able to recover it because CME is irreplacebale due to its sheer trading volume.
CME crashes, derivatives markets around the world crash. Food companies go bankrupt and lose deals regarding to food distributions. Mercantile items...all raw materials, the trade on them become severly impacted. It is very disastrous. No, we would not be able to trade it in Houston or LA a week after because CME does 9.2 million contracts per day...something goes wrong, things become VERY chaotic. Global trade in these markets becomes severly impacted as soon as it crashes...and you won't be able to recover it because CME is irreplacebale due to its sheer trading volume.
He doesn't understand. Thats a great expanation though.
Its frustrating arguing with fools. From a distance, the people can tell who's who.
Luckily there's intelligent posters left (like yourself) to distinguish the two.
LA has a lot of great things going for it (entertainment industry, weather, beaches, etc) and he chooses to argue the one thing that Chicago is known for...oh well.
I'm out to start my night...bars are open till 5!!
He doesn't understand. Thats a great expanation though.
Its frustrating arguing with fools. From a distance, the people can tell who's who.
Luckily there's intelligent posters left (like yourself) to distinguish the two.
LA has a lot of great things going for it (entertainment industry, weather, beaches, etc) and he chooses to argue the one thing that Chicago is known for...oh well.
I'm out to start my night...bars are open till 5!!
CME Group foreign exchange (FX) contracts volume averaged 471,000 contracts per day, down 26 percent, and represented an average daily notional value of $60 billion
$60,000,000,000 a day out of those 471,000 contracts. LOL...seriously there's a lot more at stake at CME than the $700 billion u constantly mention.
CME Group foreign exchange (FX) contracts volume averaged 471,000 contracts per day, down 26 percent, and represented an average daily notional value of $60 billion
$60,000,000,000 a day out of those 471,000 contracts. LOL...seriously there's a lot more at stake at CME than the $700 billion u constantly mention.
At stake? You do not think this money would be lost, do you? Competition would quickly take over. What really counts is how much of this money stays in Chicago and judging by Chicagos $500B GMP it is still less than what comes from LA. Even without the 60B a day
Do you even know that a large chunk of LA's economy is controlled by firms and F500 companies in New York, Chicago, San Francisco, Houston, Boston etc ??
Quote:
Originally Posted by advocatusdiavoli
At stake? You do not think this money would be lost, do you? Competition would quickly take over. What really counts is how much of this money stays in Chicago and judging by Chicagos $500B GMP it is still less than what comes from LA. Even without the 60B a day
Do you even know that a large chunk of LA's economy is controlled by firms and F500 companies in New York, Chicago, San Francisco, Houston, Boston etc ??
Who cares? As long as the money is being produced in LA and stays the companies may belong to the Japanese. (and many belong)
Who is dementor? Are you from Chicago or Lombard? In case your location description is accurate why do you even opne your mouth about big cities if you have to drive to even see one?
Nice try. We see through you. You hate Chicago, and we're not buying it.
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