Gadfly on the wall is google-challenged and mathematically not able
(i) let us take it as a self-evident "given" that a nation with a higher median wealth can afford more mistakes over a longer time than a state w/ a lower median wealth
(a) especially given the prospective tee-ing up of 1 vs 99, and
(b) that a bankrupting state matters less to the many than otherwise would where the many 'enjoy' food stamping and much depends on transfer payments, amongst the classes as well as inter-generational
(ii) let us concede the intuitively obvious that a territory w/ a higher median wealth can cope w/ more rope than a domain w/ a lower median wealth can muddle through, for example, a state w/ 250k median wealth, meaning 50% above that number and 50% below, vs a domain w/ 100k median wealth, meaning 50% above and 50% below
(iii) let us stipulate that an aggregate of folks with a higher median wealth score relative to another collection of people is less likely to have a lower average wealth ranking, and that in midst of diaper deflation of all we have and hyper inflation of all we need, higher is to be preferred over lower, be it median or average
(iv) re average wealth, a simple google search by gadfly would have corrected his thinking, that ...
zerohedge.com Drops From First To Seventh In Average Wealth Per Adult, Behind Singapore, Sweden, And... FranceAs if we needed more warnings that the US is rapidly losing its position as the world's superpower and wealth aggregator, is the following chart from Credit Suisse, which ranks the top 10 countries in the world in terms of average wealth per adult. While the US was #1 10 years ago, due to an abysmal growth rate of only 23%, by far the lowest of all the ranked countries, the US has now dropped from first to seventh, falling behind such countries as Sweden and France. At the top - such perennially voted "top places to live" as Switzerland and Norway. Hopefully the US can fix its ever-expanding black hole of problems soon, as once the wealthiest decide they have had it here and move away, look for this number to drop ever faster until the US drops out of the ranking altogether.
(v) let us guess that higher median and higher average wealth is to be preferred over lower of same and same, and both may have something to do with higher income, the flow that matters when dealing w/ issues of deficit and debt
urbanpeek.com
TOP 10 WORLD’S RICHEST COUNTRIES IN 2012
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Forbes magazine published an article recently on the richest 15 countries in the world and the surprise was that on top of this list is the Arab state of Qatar.
Qatar topped a list that classifies countries on the basis of per capita gross domestic product, where the annual per capita income in it exceeds 88 Thousand Dollars, according to figures from theInternational Monetary Fund the world of 2010. Thanks to enormous economic revenues of oil and gas reserves, in comparison with the relatively low population (1.7 million inhabitants), as well as the diversity of investments carried out by the Qatari government from owning stakes in global financial institutions, universities and multinational companies, through the organization of major world events as the 2022 FIFA World Cup.
UAE also came in sixth place on the list with an average income of 47,439 dollars, while Kuwaitdissolved down to the fifteenth spot with an average annual income of 38,775 dollars.
It should be noted that these figures do not mean what the person obtain as an annual salary in these countries, it means the amount of his share of the value of goods and services provided by the State in which the person lives if it was divided on the entire population.
Here is the countdown of the richest 10 countries in the world according to Forbes:
10- The Netherlands:
Average income per capita: 40,973 dollars a year, located in western Europe, bordering the North Sea, with its capital Amsterdam and a population of 16 million people.
9- Switzerland:
Average income per capita: 41,950 dollars a year, a federal republic located in Central Europe, with its capital Bern and a population of 7.7 million.
8- Hong Kong:
Average income per capita: 45,944 dollars a year, is one of the administrative regions of China, located in East Asia with a population of 7 million people.
7- The United States:
Average income per capita: 46,860 dollars a year, a federal republic comprising fifty states and is located in North America, its capital is Washington DC and has a population of 313 million.
6- United Arab Emirates:
Average income per capita: 47,439 dollars a year, is located east of the Arabian Peninsula in Southwest Asia, bordering the Persian Gulf, Abu Dhabi as its capital and a population of 8.2 million people.
5- Brunei:
Average income per capita: 48,333 dollars a year, is located on the northern coast of the island of Borneo in Southeast Asia, its capital is Bandar Seri Pkawan, and has a population of 388 thousand people.
4- Norway:
Average income per capita: 51,959 dollars a year, located in northern Europe and occupies the western part of the Scandinavian Peninsula, its capital is Oslo and has a population of 4.9 million people.
3- Singapore:
Average income per capita: 56,694 dollars a year, is located on an island in South East Asia, Singapore as its capital, the population is 4.9 million people.
2- Luxembourg:
Average income per capita: 81,466 dollars a year, is located in Western Europe between Germany, France, Belgium,with a population of 502 thousand people.
1- Qatar:
Average income per capita: 88,222 dollars a year, it’s located east of the Arabian Peninsula in Southwest Asia, bordering the Persian Gulf, its capital is Doha, and has a population of 1.8 million people.
[Via Forbes] [Courtesy of Sharing: Ahmad Ghonaim]
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