"The poorest state in the US — Mississippi — has a per capita dollar income that is higher than those of the UK, France, Italy, and Japan, and is only slightly lower than that of Germany. Does this make sense to you?" www.ft.com/content/b66b... - ThreadSky

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robinwigglesworth.ft.com • 49 days ago

"The poorest state in the US — Mississippi — has a per capita dollar income that is higher than those of the UK, France, Italy, and Japan, and is only slightly lower than that of Germany. Does this make sense to you?" https://www.ft.com/content/b66b4de0-44c8-441d-ac2f-9d94170c5c40

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thunen.bsky.social•49 days ago

This is where the (admittedly not that great) PPP adjusted data are useful. It is a different story - even before asking about income inequality, where the US mean > US median suggests that the 'average' person in Mississippi is not doing all that well compared to the 'average' Japanese person

thunen.bsky.social•49 days ago

possible adjustments: The red line here is 80% of the US average, bc the average N. European works about 80% of US average hours per year. Suggests (along with bloated US health sector) that most N Euros live better. Personal experience living in those countries suggests this overstates things.

brooklynkid53bskys.bsky.social•49 days ago

right wing MAGA bullshit; disregard

euantaylor.bsky.social•49 days ago

Really enjoyed reading this article.

Historically, the US has used private bankruptcy to remove excess debt from the system. But if politicians refuse to cut spending then taxes will need to rise. This would be a fundamental change to the US economy.

euantaylor.bsky.social•49 days ago

If taxes were to rise, the US would undergo considerable changes that are bound to increase instability. Maybe Trump is only the symptom of the underlying economic tension.

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