This is a wonderfully counter intuitive finding from the new Credit Suisse Wealth Report. There're more poor people in America than there are in China. No, really, this is true, when measuring by wealth. We've not got the detailed number of the United States alone as they're offering the information [...]

It’s extra impressive when you realize that China has many more people than the US

  • @roastpotatothief@lemmy.ml
    3•3 years ago

    IMO the USA is a very poor country. Skid rows, trailer parks, medical debt, sleeping in your car, living off tips. Though i have no idea how prevalent they really are in the USA, but in western Europe none these desperate situations really exists, though there are expectations, and student debt and slave wages are a recent import from the USA. I can imagine that in China there are similar legal/structural things to prevent them.

    The “i haven’t a penny to my name but I’m wealthy because i have did stamps” argument? Again, the USA can’t boast a first world welfare system. IDK if wealth/poverty means food security or having net assets. I suspect both go together, and wealth is just the easier one to measure.

  • Makan ☭ CPUSA
    1•3 years ago

    This should be impossible, but not in America…