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Thread started 05/07/18 10:07am

morningsong

California now world’s fifth-largest economy, bigger than Britain

amp.sacbee.com/news/business/article210466514.html

May 04, 2018 10:01 AM


The Golden State is getting even richer.

California is now the world’s fifth-largest economy, according to data released Friday morning by the U.S. Department of Commerce. Its 2017 Gross State Product was $2.747 trillion, surpassing the United Kingdom’s $2.625 trillion Gross Domestic Product.

The new ranking marks the highest point for California’s relative GSP since 2002. The state had slipped to the 10th-largest world economy in 2012, when its GSP was just $2.003 trillion.

Texas was the U.S.’s next highest-producing state with a GSP of $1.696 trillion, followed by New York, Florida and Illinois. Vermont, Wyoming and Montana produced the least valuable goods and service in the U.S.

California trails only Germany ($3.685 trillion), Japan ($4.872 trillion), China ($12.015 trillion) and the United States (16.644 without California) among the world’s leading economies.
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Reply #1 posted 05/07/18 10:51am

2freaky4church
1

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Texas has more jobs.

"My motherfucker's so cool sheep count him."
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Reply #2 posted 05/07/18 11:00am

morningsong

The American state with the biggest economy is California, which, in 2015, produced $2.44 trillion of economic output. Its GDP compares favourably to that of France, which produced $2.42 trillion during the same period. Particularly interesting to note is the fact that California has 6 million fewer workers than France, yet produced a little over its GDP. This suggests that, in productivity terms, the US outperforms its European cousins.

Even more interesting, if California were inserted into the world ranking by GDP according to country, it would come sixth – ahead of France, India, Italy and Brazil.

But California is not the only state with a strong economy. The US’s second-largest state by economy, Texas, has an output of $1.643 trillion, which sandwiches it between that of Brazil, with $1.64 trillion, and that of neighbouring Canada, at $1.552 trillion. Once again, that’s despite a smaller workforce: Brazil’s workers outnumber those of Texas by round 80 million, and Canada’s workers outnumber Texas’s by 6 million.

New York State came in third, with an output of $1.442 trillion, putting it ahead of South Korea, currently the world’s 11th-largest economy.


The exercise by the American Enterprise Institute shows the sheer scale of the US economy, which produces almost a quarter of the world’s economy (24.5%), with only a fraction of the workforce (4.5%). If they were placed in the IMF’s list of countries by GDP, six of the US states would appear in the top 20, and three (California, Texas and New York) would appear in the top 11.

“The map and the statistics summarized here help remind us of the enormity of the economic powerhouse we live and work in,” concludes the report. “So let’s not lose sight of how ridiculously large and powerful the US economy is, and how much wealth, output and prosperity is being created every day in the largest economic engine ever in human history.”


https://www.weforum.org/agenda/2016/07/american-state-bigger-economy-than-india/

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Reply #3 posted 05/07/18 1:40pm

RodeoSchro

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But...but...but...California is LIBRUL! With HIGH TAXES! People are fleeing California by the MILLIONS!!111!!

At least, that's what the Republicans have been saying.

Second Funkiest White Man in America

P&R's paladin
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Reply #4 posted 05/07/18 1:42pm

RodeoSchro

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2freaky4church1 said:

Texas has more jobs.



Then why is California's GDP 62% higher than Texas'?

Second Funkiest White Man in America

P&R's paladin
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Reply #5 posted 05/07/18 1:58pm

13cjk13

RodeoSchro said:

But...but...but...California is LIBRUL! With HIGH TAXES! People are fleeing California by the MILLIONS!!111!!

At least, that's what the Republicans have been saying.

Jealousy, pure and simple.

"Our liberty depends on the freedom of the press, and that cannot be limited without being lost".
-Thomas Jefferson
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Reply #6 posted 05/07/18 2:40pm

2freaky4church
1

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GDP does not matter.

"My motherfucker's so cool sheep count him."
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Reply #7 posted 05/07/18 5:57pm

DiminutiveRock
er

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2freaky4church1 said:

Texas has more jobs.


but they pay less shrug

and who wants to move to Texas? (no offense, Rodeo wink )

"'Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.'' - Thomas Jefferson
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Reply #8 posted 05/07/18 5:58pm

DiminutiveRock
er

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"'Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.'' - Thomas Jefferson
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Reply #9 posted 05/07/18 6:00pm

DiminutiveRock
er

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If California were a country, it would have the fifth-largest economy in the world.

The state’s growth has reinforced a liberal narrative, that a state with a big government can still have a booming economy. Strict environmental protections, a progressive tax policy and an ascendant minimum wage haven’t slowed the surge.


Prosperity has come with pain: traffic, property prices, homelessness (<--which has continued to grow since the Reagan adminsitration) But the state’s economic success has underpinned its defiance of the Trump administration.



JERRY.BROWN.IS.AWESOME.

"'Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.'' - Thomas Jefferson
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Reply #10 posted 05/07/18 8:43pm

Ugot2shakesumt
hin

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2freaky4church1 said:

GDP does not matter.


lol
Crooked Donnie. Lock him up!
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Reply #11 posted 05/08/18 6:48am

2freaky4church
1

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It doesn't. A right wing trope to talk about growth. How does the GDP explain all the tent cities?

"My motherfucker's so cool sheep count him."
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Reply #12 posted 05/08/18 6:48am

2freaky4church
1

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I hate to say it but Utah is doing it right,.

"My motherfucker's so cool sheep count him."
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Reply #13 posted 05/08/18 7:27am

poppys

DiminutiveRocker said:

falloff

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Reply #14 posted 05/08/18 7:32am

poppys

This dovetails with benni's thread. California is a huge voting block and has signed on to the National Popular Vote Interstate Compact too.

http://prince.org/msg/105/454399

The following states have already signed and agreed to the National Popular Vote Intersate Compact, and Connecticut is getting ready to sign it:


California, Hawaii, Illinois, Massachusetts, Maryland, New Jersey, New York, Rhode Island, Vermont, Washington and the District of Columbia have already signed the accord.


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Reply #15 posted 05/08/18 11:58am

morningsong

05/05/2018 05:51 PM EDT



SAN DIEGO — California Republicans have been called an endangered species in this “state of resistance” to the Trump administration, but they insist that their party will beat the odds in 2018 and take back the governor’s seat.

The conservative movement against California’s controversial “sanctuary state” law, a ballot measure to repeal Gov. Jerry Brown’s gas tax, and deepening concerns about rising housing costs and homelessness are fueling Republican hopes for a long-shot upset.

The California Republicans who gathered here this weekend for their state party convention say that’s because the Democratic Party — which controls every statewide seat and both houses of the state Legislature — has too often tested the patience of taxpayers. With voters preparing to start mail balloting Monday for the June 5 primary, Republicans are casting solidly Democratic California — the world’s sixth largest economy and home to Silicon Valley — as a broken state hobbled with rising crime and taxes that are sending businesses and residents fleeing.

And they’re attacking the two Democratic gubernatorial front-runners, Lt. Gov. Gavin Newsom and former Los Angeles Mayor Antonio Villaraigosa, as part of the problem.

“People look around and they ask why we have the highest level of poverty in the United States?’’ said Assemblyman Travis Allen, a conservative populist from Huntington Beach who has focused his run for governor on the issue of illegal immigration. “Why do we have this exploding homeless population? And what have the California Democrats done to fix it?’’

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Reply #16 posted 05/14/18 1:35pm

namepeace

California's economy is so big that its regulatory policies have a huge national impact.

Red states that love to villify California will gladly consume the federal funds California's tax revenues generate for them.

Good night, sweet Prince | 7 June 1958 - 21 April 2016

Props will be withheld until the showing and proving has commenced. -- Aaron McGruder
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Reply #17 posted 05/14/18 3:46pm

13cjk13

namepeace said:

California's economy is so big that its regulatory policies have a huge national impact.

Red states that love to villify California will gladly consume the federal funds California's tax revenues generate for them.

Yep. Having been born and raised in California, I now respond to people in this way when they bitch and moan about my home : if you're from here and you hate it, then fucking move, and it you're not from here and you hate it, then fucking shut up, it's none of your business. biggrin

"Our liberty depends on the freedom of the press, and that cannot be limited without being lost".
-Thomas Jefferson
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Reply #18 posted 05/15/18 6:36am

DiminutiveRock
er

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morningsong said:

05/05/2018 05:51 PM EDT



SAN DIEGO — California Republicans have been called an endangered species in this “state of resistance” to the Trump administration, but they insist that their party will beat the odds in 2018 and take back the governor’s seat.

The conservative movement against California’s controversial “sanctuary state” law, a ballot measure to repeal Gov. Jerry Brown’s gas tax, and deepening concerns about rising housing costs and homelessness are fueling Republican hopes for a long-shot upset.

The California Republicans who gathered here this weekend for their state party convention say that’s because the Democratic Party — which controls every statewide seat and both houses of the state Legislature — has too often tested the patience of taxpayers. With voters preparing to start mail balloting Monday for the June 5 primary, Republicans are casting solidly Democratic California — the world’s sixth largest economy and home to Silicon Valley — as a broken state hobbled with rising crime and taxes that are sending businesses and residents fleeing.

And they’re attacking the two Democratic gubernatorial front-runners, Lt. Gov. Gavin Newsom and former Los Angeles Mayor Antonio Villaraigosa, as part of the problem.

“People look around and they ask why we have the highest level of poverty in the United States?’’ said Assemblyman Travis Allen, a conservative populist from Huntington Beach who has focused his run for governor on the issue of illegal immigration. “Why do we have this exploding homeless population? And what have the California Democrats done to fix it?’’


A republican is running for Cali governor?

lol

"'Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.'' - Thomas Jefferson
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