131–140 of 248 posts
How does this reconcile with the data listed at https://en.wikipedia.org/wiki/List_of_countries_by_wealth_pe... ? That shows $530,244 for Switzerland and $403,974 for US. Difference in sampling or does the wiki one not reflect net wealth?
Wikipedia uses Credit Suisse and this news uses Allianz.
Earlier quoted context omitted.
When you take out a loan, it doesn't decrease your net worth, right? If I'm worth $X, then I take out a $1MM loan, at that moment I'm still worth approximately $X (because the $1MM the bank gave me and $1MM I owe the bank cancel each other out). So I'd rank them as: - Billionaire - Home owner - Minimum wage earner - Neurosurgeon
Why is a house an asset but an education isn't? Do you think a potential spouse would pass over the neurosurgeon?
If I have a billion dollars, and start a country that consists of me in my palace and 2000 other people living in abject poverty, we are now the "richest nation on earth" by this definition. Big whoop.
Except your country would be very poor, because you'd have either another country's currency, or you would have a $1bn trade deficit and little actual wealth - thats after you somehow get yourself some UN recognized sovereign territory
Earlier quoted context omitted.
Why is a house an asset but an education isn't? Do you think a potential spouse would pass over the neurosurgeon?
A house is a nearly guaranteed asset. The value will likely steadily rise throughout the years, and with good homeowners insurance you'll get paid even if the house is destroyed. An education guarantees nothing. The neurosurgeon could die, or suffer an injury preventing them from performing surgery, or just plain quit and decide to pursue art instead. Of course the neurosurgeon has a significantly higher potential fu…
The 2007 / 2008 financial crisis was partially triggered by the fact that this age old adage is not necessarily true.
> But debts in the Alpine country are far higher than in the US... Debts make this comparison difficult to make meaningful. A few cases: - Minimum wage earner barely scrapes by but does not seek any credit. - Someone in a high cost of living area takes out a mortgage. - A young neurosurgeon with fresh educational debt takes on a very high paying job. - A billionaire borrows to finance a major real estate project The…
When you take out a loan, it doesn't decrease your net worth, right? If I'm worth $X, then I take out a $1MM loan, at that moment I'm still worth approximately $X (because the $1MM the bank gave me and $1MM I owe the bank cancel each other out). So I'd rank them as: - Billionaire - Home owner - Minimum wage earner - Neurosurgeon
Earlier quoted context omitted.
When you take out a loan, it doesn't decrease your net worth, right? If I'm worth $X, then I take out a $1MM loan, at that moment I'm still worth approximately $X (because the $1MM the bank gave me and $1MM I owe the bank cancel each other out). So I'd rank them as: - Billionaire - Home owner - Minimum wage earner - Neurosurgeon
Why is a house an asset but an education isn't? Do you think a potential spouse would pass over the neurosurgeon?
Earlier quoted context omitted.
It’s not free. Taxes in France are massive. It’s one of the highest tax to GDP in the world. That and inflexible labour law also comes at an additional cost: high unemployement and sluggish growth even when the whole world is doing great.
Yes, whole world is doing great, by which you mean China with 6,9%, Romania 6,9%, India with 6,6% and not USA with 2,3%. (Which is better than usual. 2017 numbers.) Growth is not tied to employment policy, but only cost of labor. It correlates almost 1:1 as selfish big businesses move or outsource where it's cheaper. (Including big tax breaks. USA doesn't have these enough to balance very expensive employment.) Examp…
Earlier quoted context omitted.
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 :-)
France is above the EU average. Probably more comparable to a large, above-average US state.
Earlier quoted context omitted.
Why is a house an asset but an education isn't? Do you think a potential spouse would pass over the neurosurgeon?
A house is a nearly guaranteed asset. The value will likely steadily rise throughout the years, and with good homeowners insurance you'll get paid even if the house is destroyed. An education guarantees nothing. The neurosurgeon could die, or suffer an injury preventing them from performing surgery, or just plain quit and decide to pursue art instead. Of course the neurosurgeon has a significantly higher potential fu…