There are reasons the US can afford this much dept. National dept has many different implications compared to private dept.
The median US citizen doesnt benefit too much from the enormous GDP per capita because of unequal wealth distribution tho.
The absolute financial US wealth is the highest-ranked worldwide and the relative (per capita) one is still very high despite the high dept.
“Well, the first bucket is half full, but it’s all on one side. The second bucket is only a third full, but it’s level. Obviously, the second bucket is more full.”
You’re choosing to use words differently than they commonly are. Without any qualifiers, we use “wealth” to refer to financial wealth. Greece isn’t the wealthiest nation in the world, but their cultural wealth is significant. Likewise, mean wealth is useful for knowing how much…wealth a nation has. When compared to quality of life or median wealth, you can use it to identify issues the country needs to deal with. You just have to remember that just like wealth doesn’t mean “distribution of wealth”, it also doesn’t mean “good”.
Well, given the original comment was about how much wealth is available in the nation and yet this shitty location was still used for a school, I think it’s a good one. The point is to show the flaw in how that money is being distributed.
Yes true i also perfer to compare the median wealth (which is still surprisingly high in the US). And even a high median wealth doesnt help you when you become homeless because of the horrible social security
There are reasons the US can afford this much dept. National dept has many different implications compared to private dept. The median US citizen doesnt benefit too much from the enormous GDP per capita because of unequal wealth distribution tho. The absolute financial US wealth is the highest-ranked worldwide and the relative (per capita) one is still very high despite the high dept.
IMO a nation is only so wealthy as its median citizen or something else mathematically correct. Mean wealth is just a weird thing to go by.
“Which of these two buckets has more sand?”
“Well, the first bucket is half full, but it’s all on one side. The second bucket is only a third full, but it’s level. Obviously, the second bucket is more full.”
You’re choosing to use words differently than they commonly are. Without any qualifiers, we use “wealth” to refer to financial wealth. Greece isn’t the wealthiest nation in the world, but their cultural wealth is significant. Likewise, mean wealth is useful for knowing how much…wealth a nation has. When compared to quality of life or median wealth, you can use it to identify issues the country needs to deal with. You just have to remember that just like wealth doesn’t mean “distribution of wealth”, it also doesn’t mean “good”.
Sure, much like anything in this world, it depends. In this case it depends on what you’re trying to compare, I suppose. 👍
Well, given the original comment was about how much wealth is available in the nation and yet this shitty location was still used for a school, I think it’s a good one. The point is to show the flaw in how that money is being distributed.
It doesn’t really matter how much wealth is available in the nation if it’s not available for the people who need it.
But I guess that was the point of what they were saying in the image, actually?
That’s what I figure.
Yes true i also perfer to compare the median wealth (which is still surprisingly high in the US). And even a high median wealth doesnt help you when you become homeless because of the horrible social security
Yeah looking into numbers regarding this is quite disturbing. Lots of wealth but very high inequality. One of the most unequal countries in the world.
I’m proud to live in a country with low inequality, but it’s still important to watch out for politics that can lead to higher inequality. 🔍