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  #1  
Old Posted May 5, 2018, 5:34 AM
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California is now the world's fifth-largest economy, surpassing United Kingdom

Where ever ya'll live could never!



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California's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday.

California's gross domestic product rose by $127 billion from 2016 to 2017, surpassing $2.7 trillion, the data said. Meanwhile, the U.K.'s economic output slightly shrank over that time when measured in U.S. dollars, due in part to exchange rate fluctuations.

The data demonstrate the sheer immensity of California's economy, home to nearly 40 million people, a thriving technology sector in Silicon Valley, the world's entertainment capital in Hollywood and the nation's salad bowl in the Central Valley agricultural heartland. It also reflects a substantial turnaround since the Great Recession.

All economic sectors except agriculture contributed to California's higher GDP, said Irena Asmundson, chief economist at the California Department of Finance. Financial services and real estate led the pack at $26 billion in growth, followed by the information sector, which includes many technology companies, at $20 billion. Manufacturing was up $10 billion...
http://www.latimes.com/business/la-f...504-story.html
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  #2  
Old Posted May 5, 2018, 8:17 AM
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UK is probably going to be ahead again in 2018 unless there's a crash in the value of the Pound. Average exchange rate for 2017 was £1=$1.288, so far in 2018 it's £1=$1.395 which should make UK nominal GDP around $2.95trn for the year.
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Old Posted May 5, 2018, 1:00 PM
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newsweek.com

here's the old map.
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Old Posted May 5, 2018, 1:04 PM
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it's funny, you have a place like ohio with the rustbelt stereotype punching at the weight of switzerland, which is stereotyped as filthy rich.
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  #5  
Old Posted May 5, 2018, 2:04 PM
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Originally Posted by Centropolis View Post
it's funny, you have a place like ohio with the rustbelt stereotype punching at the weight of switzerland, which is stereotyped as filthy rich.
The U.S., at least in terms of consumer buying power, is almost certainly the wealthiest place on earth. The average Swiss household probably has less living space, fewer vehicles and less stuff than the average Ohioan. Whether that makes Ohio "richer" is debatable, of course.

California is arguably the engine of the U.S. economy, the innovation center of the planet, and basically the exact opposite of where our federal govt. is headed, yet 35% of Americans are brainwashed into thinking CA is a failed state. Can't fix stupid.
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Old Posted May 5, 2018, 2:07 PM
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The U.S., at least in terms of consumer buying power, is almost certainly the wealthiest place on earth. The average Swiss household almost certainly has less living space, fewer vehicles and less stuff than the average Ohioan.
yeah, americans spread themselves out/thin, buy shit every day of the week, and over-house themselves while upper middle class swiss live in moderately sized condos (even on the outskirts of basel or whatever) and have one small car. and stockpile wealth while americans go into the hole.
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Old Posted May 5, 2018, 2:07 PM
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it's funny, you have a place like ohio with the rustbelt stereotype punching at the weight of switzerland, which is stereotyped as filthy rich.
I think this is a great point.

As much as we Americans lament the “dying rustbelt”, we need some perspective here. Still a lot of wealth, a lot of industry, and still one of the wealthiest and most economically productive places on the planet.

The problem in America is poor allocation of resources. Don’t get me wrong, I’m a free market capitalist, but large industries have gamed the system to such a degree that our Republic has essentially been hijacked. Your average American has a lower quality of life than your average European, despite our abundant riches.
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Old Posted May 5, 2018, 2:13 PM
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Originally Posted by the urban politician View Post
I think this is a great point.

As much as we Americans lament the “dying rustbelt”, we need some perspective here. Still a lot of wealth, a lot of industry, and still one of the wealthiest and most economically productive places on the planet.

The problem in America is poor allocation of resources. Don’t get me wrong, I’m a free market capitalist, but large industries have gamed the system to such a degree that our Republic has essentially been hijacked. Your average American has a lower quality of life than your average European, despite our abundant riches.
it's always a bit depressing to come back from a place that reinvests its wealth on proper infrastructure to the midwest/u.s....i have had this "shock" coming back from china, now, with the rise of all of the japanese style high speed trains. meanwhile the stl-chi rail line is puttering along and can barely go 90 mph for short stretches after how much time and commotion now? we can't even get the right railcars built for it. that's not for lack of wealth!
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Old Posted May 5, 2018, 2:20 PM
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ithat's not for lack of wealth!
The U.S. has unparalleled private wealth. The upper middle class in (say) Shaker Heights probably lives "better" than their equivalents outside (say) Zurich.

But our public sphere is crap. There's zero recognition that a prosperous society needs to invest in the common good.
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Old Posted May 5, 2018, 2:23 PM
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^ Exactly. Only the biggest and most centralized cities seem to be able to pull this off.
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Old Posted May 5, 2018, 2:25 PM
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The U.S. is a huge geographical area of moderate climates, unlike Canada. We aren't a tiny Euro country. And we don't have 1.3 billion people crammed along the East Coast.
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Old Posted May 5, 2018, 2:26 PM
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Originally Posted by Sun Belt View Post
The U.S. is a huge geographical area of moderate climates, unlike Canada. We aren't a tiny Euro country. And we don't have 1.3 billion people crammed along the East Coast.
We had a better public sphere in 1950, when we had a fraction of our present population. Not an excuse
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Old Posted May 5, 2018, 2:28 PM
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We had a better public sphere in 1950, when we had a fraction of our present population. Not an excuse
We did? The U.S. as a whole? Or just some cities in some regions?
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  #14  
Old Posted May 5, 2018, 2:28 PM
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Quote:
Originally Posted by Centropolis View Post
it's always a bit depressing to come back from a place that reinvests its wealth on proper infrastructure to the midwest/u.s....i have had this "shock" coming back from china, now, with the rise of all of the japanese style high speed trains. meanwhile the stl-chi rail line is puttering along and can barely go 90 mph for short stretches after how much time and commotion now? we can't even get the right railcars built for it. that's not for lack of wealth!
Its pathetic really. The money is there, but the lack of spending for the public good is woefully low. It occurs, but again, woefully low, especially if compared to the spending that occurs in China.
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Old Posted May 5, 2018, 2:29 PM
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Originally Posted by Sun Belt View Post
we did?
Definitely. We had transit, downtowns, public spaces. The average American had access to all this.

The U.S. in 1950 probably had the same quality of public sphere as Western Europe. We've since gotten much wealthier, but the public sphere has largely disappeared.
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  #16  
Old Posted May 5, 2018, 2:30 PM
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we did?
Yes!

Passenger rail, intercity rail, construction of the interstate highway. Federal dollars went toward creating huge public housing systems, other infrastructure..
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Old Posted May 5, 2018, 2:34 PM
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Originally Posted by Sun Belt View Post
The U.S. is a huge geographical area of moderate climates, unlike Canada. We aren't a tiny Euro country. And we don't have 1.3 billion people crammed along the East Coast.
Just a reference:


Credit: http://www.undertheraedar.com/2012/0...-of-china.html
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  #18  
Old Posted May 5, 2018, 2:43 PM
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Originally Posted by Crawford View Post
Definitely. We had transit, downtowns, public spaces. The average American had access to all this.

The U.S. in 1950 probably had the same quality of public sphere as Western Europe. We've since gotten much wealthier, but the public sphere has largely disappeared.
The American South, Southwest and the Great Plains and much of the West were really really poor in 1950 with a few pockets of what SSPers would approve as good bones urbanism. Since then these regions have exploded in prosperity while decreasing poverty rates.
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Old Posted May 5, 2018, 2:52 PM
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Originally Posted by Sun Belt View Post
The American South, Southwest and the Great Plains and much of the West were really really poor in 1950 with a few pockets of what SSPers would approve as good bones urbanism. Since then these regions have exploded in prosperity while decreasing poverty rates.
I'm not sure if this is true (say AZ, was poorer relative to the U.S. in the postwar era compared to now?) but poverty has nothing to do with urbanity and transit.

The SW definitely had better "good bones urbanism" in 1950 than now. Phoenix was a tiny town, and had a bustling city center. Now it's a huge metro with no real public sphere. There is no downtown shopping district these days.
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Old Posted May 5, 2018, 2:57 PM
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Originally Posted by Sun Belt View Post
The American South, Southwest and the Great Plains and much of the West were really really poor in 1950 with a few pockets of what SSPers would approve as good bones urbanism. Since then these regions have exploded in prosperity while decreasing poverty rates.
a different discussion. we became drunk on wealth and suck/got lazy with the public realm. it's something that's still clearly important to americans when you look at real estate prices in intact cities with good public realms...things are improving, however, as generation x (and millennials) have begun to take over decision making roles over from the boomers in the secondary cities.
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