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re: No vacation nation
Posted on 8/27/14 at 8:39 pm to Tiger n Miami AU83
Posted on 8/27/14 at 8:39 pm to Tiger n Miami AU83
quote:Are you sure about that? Wealth is nothing more than the ownership of items. I think Americans, by that standard, are extremely wealthy.
in most of Europe having a lot more person wealth than the "average" American.
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Posted on 8/27/14 at 8:41 pm to HailHailtoMichigan!
I'm sure.
The majority of the middle class of Canada, western europe, australia, and japan are wealthier than the average middle class American. The US middle class ranks towards the low end of wealth at 19 when compared with other major industrialized countries.
The outliers of our super wealthy skew the overall numbers, but if you are comparing middle class citizens of different developed countries and their wealth, we suck.
The majority of the middle class of Canada, western europe, australia, and japan are wealthier than the average middle class American. The US middle class ranks towards the low end of wealth at 19 when compared with other major industrialized countries.
The outliers of our super wealthy skew the overall numbers, but if you are comparing middle class citizens of different developed countries and their wealth, we suck.
Posted on 8/27/14 at 8:45 pm to HailHailtoMichigan!
Here is a link. Our middle class wealth is way behind even though it works much harder.
Study is from Credit Suisse
LINK /
Study is from Credit Suisse
quote:
America's middle class: Poorer than you think
quote:
Americans' median wealth is a mere $44,900 per adult -- half have more, half have less. That's only good enough for 19th place, below Japan, Canada, Australia and much of Western Europe.
More from Ozy: Working for the moneyed classes
"Americans tend to think of their middle class as being the richest in the world, but it turns out, in terms of wealth, they rank fairly low among major industrialized countries," said Edward Wolff, a New York University economics professor who studies net worth.
Why is there such a big difference between the two measures?
Super rich Americans skew average wealth upwards. The U.S. has 42% of the world's millionaires, and 49% of those with more than $50 million in assets.
LINK /
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