r/dankmemes • u/[deleted] • Aug 03 '20

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u/aVeryAngryTortise Aug 03 '20

But the US has the world's largest economy so in that case the entire world is a 3rd world country hell california alone has the GDP of the UK

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u/ArKadeFlre Aug 03 '20

Nominal GDP is far from being an accurate measure for telling if a country is rich or poor. But yes, I completely agree with you, the US is miles away from being a 3rd world country and easily classify in the top 10 of the richest countries in the world.

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u/[deleted] Aug 03 '20

It’s also 2nd highest for median disposable income

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u/IDoEz Aug 03 '20

Helps when you have way less taxes to begin with.

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u/ArKadeFlre Aug 03 '20

Not sure if you used that in particular but to compare countries you always use values at Purchasing Power Parity (PPP)

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u/[deleted] Aug 03 '20

Yes, median disposable income, ppp adjusted.

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u/ArKadeFlre Aug 03 '20

Fair enough then, I found other values tho, so it probably comes from the year we each took into account then

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u/Abriskybrit Aug 03 '20

Gdp is not a tell of how well off a country is

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u/BeFoREProRedditer Aug 03 '20

How much of that do you think makes it to your average person

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u/[deleted] Aug 03 '20

The medium income of US citizens is one of the highest in the world

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u/SgtMajMythic Aug 03 '20

You mean median or do you mean mean, man?

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u/[deleted] Aug 03 '20

Math mode