SOCAL IS ONE OF THE POWER CENTERS DRIVING THE U.S. ECONOMY

April 17, 2014 on 6:35 pm | In Bravo, Fascinating Information, Funny...Money, Statistics, Uncategorized, World | 3 Comments

edited by Jodi Summers

So-Cal runs from L.A. through San Diego and spills into Tijuana, Mexico, accounting for 21.8 million people and more than one trillion in economic output. Even excluding its Mexican component, its economy is bigger than all of Mexico’s and just a bit smaller than Spain’s, also putting it among the world’s fifteen largest economies.

Above and beyond, the Boston-Washington corridor produces more than Germany, Chicago-Pittsburgh more than Brazil. Add that toSoCal production, which trounces Mexico, and the other regions, and these dozen mega-regions produce more than $13 trillion dollars in economic output, equivalent to three-quarters of America’s total GDP.

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http://www.theatlanticcities.com/jobs-and-economy/2014/03/dozen-regional-powerhouses-driving-us-economy/8575/

http://www.socalofficerealestateblog.com/?p=2537

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  1. The United States could soon become a large-scale Spain or Greece, teetering on the edge of financial ruin.

    That’s according to Donald Trump, who painted a very ugly picture of where this country is headed. Trump made the comments during a recent appearance on Fox News’ “On the Record with Greta Van Susteren.”

    According to Trump, the United States is no longer a rich country. “When you’re not rich, you have to go out and borrow money. We’re borrowing from the Chinese and others. We’re up to $16 trillion in debt.”

    He goes on to point out that the downgrade of U.S. debt is inevitable.

    “We are going up to $16 trillion [in debt] very soon, and it’s going to be a lot higher than that before he gets finished. When you have [debt] in the $21-$22 trillion, you are talking about a downgrade no matter how you cut it.”

    Ballooning debt and a credit downgrade aren’t Trump’s only worries for this country. He says that the official unemployment rate of 8.2 percent “isn’t a real number” and that the real figure is closer to 15 percent to 16 percent. He even mentioned that some believe the unemployment rate to be as high as 21 percent.

    Comment by Money News — April 20, 2014 #

  2. Since 2004, the amount of money owed by graduates entering the workforce has more than tripled, to a whopping $1.1 trillion. And since purchasing a first home hinges largely on the buyer’s total debt, owing large amounts of money for student loans can be a major obstacle to homeownership.

    The reality is daunting for 20- and 30-somethings, and the housing market is feeling the ripple effect. “You have to have that swath of first-time buyers who will eventually be your move-up buyers,” said Dustin Hobbs, spokesman for the California Mortgage Bankers Assn. “When you take that out, it damages the whole chain.”

    Comment by Copyright © 2014, Los Angeles Times — April 25, 2014 #

  3. It’s not exactly shocking that the top one percent are much whiter than America as a whole, but it is worth noting. The overwhelming maleness of the top 1 percent is also interesting in a world where some people are proclaiming that the economy is working great for women. But the same survey also shows that 70 percent of the “next 90 percent” are male. This appears to be an artifact of Survey of Consumer Finances methodology, which appears to code mixed-gender married couples as male.

    Comment by Vox — May 1, 2014 #

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