Wealth per capita comparison is all nonsense when 90% of
all the wealth of a country like the USA is concentrated in the top 1%.
Therefore only 10% of the USA's wealth is left in the hands of the
other 90%. Are those 90% considered wealthy? What is their per capita
GDP or wealth in actuality? It is all a mirage comparing per capita GDP.
Meaningless but good for propaganda usage.
Countries like China
will never be considered as rich as the USA even if its GDP is to rise
to four times that of the USA. China's population is four times that of
the USA. Even if India reaches on par with the GDP of the USA, it will
still be considered poverty stricken, with a population four times that
of the USA.
Do not be misled by all the propaganda trying to confuse by comparing the woods for the trees.
Anonymous
2 comments:
Some of the 90% are living on the streets, some holding two to three jobs to put food on the table and afford a roof over their heads. Holding two jobs is considered job creation, a rosy claim. Are these people really rich?
A propaganda video ranking people in countries around the world having most money left over to spend after all the necessities were taken care of, and the USA came out tops. This must be talking about the 1%, not the other 90%. For that perspective, there were many videos talking about people in the USA not having US$400 in their savings for emergencies. How are these people even considered rich in the richest country in the world?
Anyway, we all know that statistics lie all the time. It is just for us to separate the wheat from the chaff to get at the real facts.
The new mantra is that job creation is not as great as reported in the USA. So, a rate cut is on the cards in September to boost business and create more jobs. This is how they tailored the narrative to justify the objective.
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