PPP is bunk. It assumes that currency traders are morons who market trades are unable to correctly value a currency. Why not compare the US to Europe using the

PPP is bunk. It assumes that currency traders are morons who market trades are unable to correctly value a currency. Why not compare the US to Europe using the market values of the currencies? If you do that, then you realize Mississippi is poorer than any European country. You also realize that all of the US is poorer than several European countries.