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Consider the fact that if you intersect the US's population with its per capita income you get #10: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomi
by david927 17y ago
Consider the fact that if you intersect the US's population with its per capita income
you get #10:
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nomin...
If you sample 100 households and take median income, it falls further.
If you factor in health care and university costs, it drops further. You're making an emotional response to a fairly clinical fact.
I won't bring up current account and debt. You get the idea. You're making my original point for me.
- TNO 17y agoThose Wikipedia numbers are improper to use as an argument. Real GDP per Capita should be used, not nominal.
- dandelany 17y agohttp://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29_per_capita http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP...
- david927 17y agoPPP says essentially to "divide by the cost of a BigMac." A BigMac might cost more in Europe, but they don't eat them. It's silly. The result of PPP is that it makes the poorest states in the US appear to be richer than places like Switzerland. Go visit Switzerland, then Louisiana, and come back here and we'll talk.
- mpf62 17y agoPPP is indeed a silly measure as practiced. McDonalds has almost no competitors in Switzerland (no In&Out, Jack, TacoBell or Subway across the street) - therefore a BigMac costs at least 5 times more than in the US. There are other measures that suck as well - e.g. external debt. OMG, Switzerland, Monaco and Luxembourg are completely screwed ... or are these popular banking places, that own foreign investors money that they actually are hording and did not spent it in the Looney-Tunes store at the local mall?