As we get ready to celebrate the independence of our country it is interesting to see how we measure up financially with the rest of the world.
It can sometimes be hard to understand just how large the U.S. economy is compared with the other countries of the world. You’ve probably read that California alone, if it were an independent country, would have the world’s fifth largest economy. But what about the rest of the states?
A map created by the Eurasia Group does a great job of putting in perspective the size of America’s economic output by matching each state’s GDP with other that of other countries. For instance, California’s economy is roughly the same size as the United Kingdom’s. Texas and New York are both roughly (in economic terms) as productive as Canada. Michigan is the economic size of Sweden, Virginia the size of Switzerland, and North Carolina, Georgia, and Washington state are the size of the Asian economic powerhouse known as Singapore. We think this is pretty interesting stuff.
Have a safe and fun-filled July 4th!
Kevin & Charlie
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk and there can be no assurance that the future performance of any specific investment, investment strategy, or product made reference to directly or indirectly in this article will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Moreover, you should not assume that any information or any corresponding discussions serves as the receipt of, or as a substitute for, personalized investment advice from Leading Edge Financial Planning personnel. The opinions expressed are those of Leading Edge Financial Planning as of 07/02/2019 and are subject to change at any time due to the changes in market or economic conditions.