Posted on 03/12/2023 9:01:39 PM PDT by SeekAndFind
That basically just tells you how big the city is.
Per capita would be the interesting number.
For example, Midland TX is just a moderately sized town with a population of maybe 100k or 150k.
Yet it shows up higher than towns with a million.
Now this is REALLY surprising! People are supposed to be leaving CA due to all the social problems here.
#1 San Francisco/Bay Area, California 4.8% GDP Growth in 2022
Economic output does not translate to food production. Two percent of the population feeds the rest of the country, and that is not produced in the listed conurbations.
To compare, El Paso (another west Texas location) has a million or two million people but is less economically material than a town 1/20 its size not 40 minutes away by plane. (I’ve made that flight a fair amount).
It’s a near meaningless list.
With the exception of a couple of towns, it’s just “how big” is a city.
Per capita would mean a lot.
Interesting list. Some of the spots really surprised me.
Here is a real list
https://en.m.wikipedia.org/wiki/List_of_U.S._metropolitan_areas_by_GDP_per_capita
Fastest growing city, San Francisco?
Is this study using government calculating methods?
I can’t believe San Fran is fastest in terms of GDP growth year-over-year. Businesses are closing there every day. Where is their GDP growth coming from?
Government bailouts
“GDP” includes Government Spending.
Thanks.
>> That basically just tells you how big the city is. <<
The ONLY purpose of this is to diminish the red-state cities with lower costs of living.
One thing I want to know....if a company or bank is headquartered in a city, does the revenue of the entire company count towards the GDP of that city? I suspect it does.
Obviously that revenue was not generated in that city overwhelmingly. It came from the rest of the country.
You don’t have to be a genius to figure out that having a bunch of big banks or large companies with their HQs in a certain city is going to make that city look like its far wealthier and more economically productive than it actually is.
BTW, I noticed the top 4 were all tech hubs. The Tech industry is in the midst of a downturn with tens of thousands of layoffs (for the first time) this year. Don’t look for those 4 to be atop the rankings next year.
Midland-Odessa has almost 350,000.
And that doesn’t include all the weekly labor living in containers when oil is above $80/bbl.
The real question is how much of this is making things, and how much is funny money, creating wealth from thin air and false promises.
How much of San Jose’s GDP was wrapped up in SVB? (on the Forbes list of best banks last week).
I can see how Washington DC sucks in a lot of money.
I can’t see what they do in Washington DC that actually generates that money.
They’re just leeching money off of the rest of the country, not actually generating wealth. The same could be said about NYC and Wall Street. Citibank for example doesn’t actually generate its annual revenues mostly in NYC. Those revenues just get reported there because that’s where its HQ is.
Usury doesn’t count as “output” in a healthy economy.
According to the US census.
Midland TX Per Capita Income $43,572, New York City $43,952
Midland Poverty Rate 10.5%, New York City 17%
Make of it what you will. New York definitely has a lot at the Low and the High end of the economic ladder.
Well I mean we could point out the murder rates (or the tax rates) of these same cities and see that theres more than meets the eye. Beacuse banks and tech companies set up shop in these places certainly doesnt equate to them being run very well.
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