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US takes 'richest nation on earth' crown from Switzerland

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Re: US takes 'richest nation on earth' crown from Switzerland

#32

Post by lacampbell »

soperj wrote: post #29
hartator wrote: post #8

Earlier quoted context omitted.

Actually the 20% poorest in the US has it better than the average EU middle class. Ref: https://www.google.com/amp/s/fee.org/articles/the-poorest-20...

And you still have plenty of homesless and destitute. Pretty sad that you can't look after the most vunerable.

Have you been to a major European train station recently?

Re: US takes 'richest nation on earth' crown from Switzerland

#33

Post by why_only_15 »

chillacy wrote: post #14
hartator wrote: post #8

Earlier quoted context omitted.

Actually the 20% poorest in the US has it better than the average EU middle class. Ref: https://www.google.com/amp/s/fee.org/articles/the-poorest-20...

This doesn't seem to account for debt, does anyone have stats on debt in Europe?

What does this mean? They talk about consumption of goods and services and while taking the debt might be included, the paying of the debt won't be.

Re: US takes 'richest nation on earth' crown from Switzerland

#35

Post by thatfrenchguy »

hartator wrote: post #8
anxrn wrote: post #2

I suspect using the median net assets instead of the average would lead to vastly different results.

Actually the 20% poorest in the US has it better than the average EU middle class. Ref: https://www.google.com/amp/s/fee.org/articles/the-poorest-20...

The second decile in the US had in 2017 a wealth of $4798 (-962 for the first decile), while in France in 2015 the second decile had E12900, E4300 for the first decile.

And, you know, access to health care :-)

Re: US takes 'richest nation on earth' crown from Switzerland

#36

Post by EpicEng »

soperj wrote: post #29
hartator wrote: post #8

Earlier quoted context omitted.

Actually the 20% poorest in the US has it better than the average EU middle class. Ref: https://www.google.com/amp/s/fee.org/articles/the-poorest-20...

And you still have plenty of homesless and destitute. Pretty sad that you can't look after the most vunerable.

I saw a ton of people sleeping on mattresses and blankets in German train stations last time I went. Were they just enjoying their freedom from the pressures of society?

Maybe we should look at this: https://en.wikipedia.org/wiki/List_of_countries_by_homeless_...

So what are you talking about exactly?

Re: US takes 'richest nation on earth' crown from Switzerland

#38

Post by ummonk »

maneesh wrote: post #6
irrational wrote: post #5

TIL Switzerland is the richest nation on earth. If I was going to guess, I probably would've guessed Saudi Arabia or Luxembourg.

Did you mean the US is?

Depends whether you use median or mean. Switzerland is #1 by median, which is likewise not something I would have guessed.

Re: US takes 'richest nation on earth' crown from Switzerland

#39

Post by sanxiyn »

tempsy wrote: post #37

One of the more baffling statistics I’ve seen lately is that consumer debt continues to increase and credit card interest rates are at multi year highs despite the fed funds rate being at historical lows. Things don’t add up.

Debt increasing when interest rate is low sounds completely normal to me, although credit card interest rate being high is interesting.
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