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No need to "hear." This is easily Googled. Americans have the highest level of disposable income in the world, and it's not even close. Even Europe's mega-rich

No need to "hear." This is easily Googled. Americans have the highest level of disposable income in the world, and it's not even close. Even Europe's mega-rich tax havens like Luxembourg have a lower disposable income than Americans. https://en.wikipedia.org/wiki/Disposable_household_and_per_capita_income https://en.wikipedia.org/wiki/Disposable_household_and_per_c... Yea I know the rebuttal--"but I also heard they all have $100,000 hospital bills every year!!" The disposable per capita income numbers already account for healthcare expenditures.

_nalply 2y ago
You used the term "highest level of disposable income in the world". Sorry to be so blunt, but it's not helpful if you look only at the average. A better metric would be the median because it is well known that the super rich distort the disposable income in some countries (the US, but also some European countries). I see in plutocraticish environments the rich and powerful sometimes very deftfully prevent measures inconvenient for Corporate but useful for the weaker part of the population. I admit this also happens in Europe. But somehow it is just easier to live as a poorish person in many European countries.
- pembrook 2y ago
  Not sure if you checked the link, Wikipedia has both Mean equivalised and Median equivalised charts. Americans rank #1 on both mean and median. So the point about the super rich distorting the mean is irrelevant. > But somehow it is just easier to live as a poorish person in many European countries. Perception and narratives are not reality. In fact, typically in economic matters it takes almost a decade for the public narrative to shift to match the reality of the numbers. Even if reality is right there in the data. This is why bubbles usually go on for much longer than the "smart" people think they will. Look at any of Fama-French research; momentum is the strongest inefficiency in virtually all markets.
  - FredPret 2y ago
    The other thing is - though US median performance is high and average performance is much higher - it's not just a couple of billionaires pulling up that average. It's millionaires - tens of millions of them. There's something special about a system that can create so many extremely successful people.
    - GreenWatermelon 2y ago
      It does so by creating equally as many incredibly miserable people. Homelessness is rampant on the US and the average American is one health emergency away from poverty. That's also the same country well known for saddling college students with life-crippling debts.

_nalply 2y ago

You used the term "highest level of disposable income in the world". Sorry to be so blunt, but it's not helpful if you look only at the average. A better metric would be the median because it is well known that the super rich distort the disposable income in some countries (the US, but also some European countries). I see in plutocraticish environments the rich and powerful sometimes very deftfully prevent measures inconvenient for Corporate but useful for the weaker part of the population. I admit this also happens in Europe. But somehow it is just easier to live as a poorish person in many European countries.

pembrook 2y ago
Not sure if you checked the link, Wikipedia has both Mean equivalised and Median equivalised charts. Americans rank #1 on both mean and median. So the point about the super rich distorting the mean is irrelevant. > But somehow it is just easier to live as a poorish person in many European countries. Perception and narratives are not reality. In fact, typically in economic matters it takes almost a decade for the public narrative to shift to match the reality of the numbers. Even if reality is right there in the data. This is why bubbles usually go on for much longer than the "smart" people think they will. Look at any of Fama-French research; momentum is the strongest inefficiency in virtually all markets.
- FredPret 2y ago
  The other thing is - though US median performance is high and average performance is much higher - it's not just a couple of billionaires pulling up that average. It's millionaires - tens of millions of them. There's something special about a system that can create so many extremely successful people.
  - GreenWatermelon 2y ago
    It does so by creating equally as many incredibly miserable people. Homelessness is rampant on the US and the average American is one health emergency away from poverty. That's also the same country well known for saddling college students with life-crippling debts.