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Wealth Distribution: The average Chinese are much wealthier than Americans
Wealth Distribution: The average Chinese are much wealthier than Americans
By Sumela
7 Sep 2023 9:24 am in No Holds Barred Political Forum
Nik Stankovic@nikstankovic_
Ah, thank you, somebody did it. I knew this intuitively. While Chinese INCOMES are below American INCOMES, Chinese have much higher NET WORTH than Americans. How? They own apartments at a much higher rate and with a lot more equity than Americans. The MEAN and MEDIAN insight is even more beautiful. This graphic here is pretty much the only thing you need to understand about the difference between the economies of China and United States. But you really need to understand it and you need to have a deep understanding of what it means.
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Carl Zha@CarlZha Sep 5
Average Chinese household wealthier than their US counterparts IRL.
But IF the US has a wealth distribution like China,
then average Muricans will be much wealthier.
Let that sink in...
Ah, thank you, somebody did it. I knew this intuitively. While Chinese INCOMES are below American INCOMES, Chinese have much higher NET WORTH than Americans. How? They own apartments at a much higher rate and with a lot more equity than Americans. The MEAN and MEDIAN insight is even more beautiful. This graphic here is pretty much the only thing you need to understand about the difference between the economies of China and United States. But you really need to understand it and you need to have a deep understanding of what it means.
-------------------------------------------
Carl Zha@CarlZha Sep 5
Average Chinese household wealthier than their US counterparts IRL.
But IF the US has a wealth distribution like China,
then average Muricans will be much wealthier.
Let that sink in...
7 Sep 2023 10:19 am
Deadbeats in China don't fare very well if you land on the "deadbeat list"!
Here in the States you just end up on the government payroll.
Here in the States you just end up on the government payroll.
7 Sep 2023 10:30 am
....and in tents all over big cities creating filthy cities and moral decay.Fuelman » 07 Sep 2023, 10:19 am » wrote: ↑ Deadbeats in China don't fare very well if you land on the "deadbeat list"!
Here in the States you just end up on the government payroll.
7 Sep 2023 10:32 am
Hey, ******* (In Russian - "Donbas"), your chart shows that Americans have nearly twice the net worth of the Chinese. LOL!!!!Sumela » 07 Sep 2023, 9:24 am » wrote: ↑ Nik Stankovic@nikstankovic_
Ah, thank you, somebody did it. I knew this intuitively. While Chinese INCOMES are below American INCOMES, Chinese have much higher NET WORTH than Americans. How? They own apartments at a much higher rate and with a lot more equity than Americans. The MEAN and MEDIAN insight is even more beautiful. This graphic here is pretty much the only thing you need to understand about the difference between the economies of China and United States. But you really need to understand it and you need to have a deep understanding of what it means.
-------------------------------------------
Carl Zha@CarlZha Sep 5
Average Chinese household wealthier than their US counterparts IRL.
But IF the US has a wealth distribution like China,
then average Muricans will be much wealthier.
Let that sink in...
Go learn the difference between "Median" and "Mean". Freaking stupid Russian - every day you prove that Russians are the ****** of Europe.
7 Sep 2023 10:49 am
Lil Dumb Skanny **** his pants again. This ignorant redneck uses his socks as toilet paper.Skans » 07 Sep 2023, 10:32 am » wrote: ↑ Hey, ******* (In Russian - "Donbas"), your chart shows that Americans have nearly twice the net worth of the Chinese. LOL!!!!
Go learn the difference between "Median" and "Mean". Freaking stupid Russian - every day you prove that Russians are the ****** of Europe.
The charts shows that the Elites have 99% of the money,
this raises the average or mean to a meaningless figure in terms of PPP.
The median shows that in China the middle class has much more $$$/purchasing power than Muricans
7 Sep 2023 10:53 am
Really? I thought it showed net worth in a "median" graph and a "means" graph. I didn't see anything in your chart about Elites - but, you are free to walk me thorough your chart and show me the graph and figures that support what you say above there.
......Ummmmmmmmmmmmmmmmm, except your chart says nothing of the sort. What it does show, however, is the opposite of what you claim - i.e. that Americans are far wealthier than the Chinese. Not that I would believe your chart if it said otherwise, because we all know that you can't trust any financial reporting or accounting statements pertaining to China, the Chinese people or Chinese companies. The Chinese people do not understand Accounting and Finance. This is why the world (educated world) stays away from investing in China.this raises the average or mean to a meaningless figure in terms of PPP.
7 Sep 2023 10:57 am
Chillax old man - just admit you shat yer pants again.Skans » 07 Sep 2023, 10:53 am » wrote: ↑ Really? I thought it showed net worth in a "median" graph and a "means" graph. I didn't see anything in your chart about Elites - but, you are free to walk me thorough your chart and show me the graph and figures that support what you say above there.
......Ummmmmmmmmmmmmmmmm, except your chart says nothing of the sort.
7 Sep 2023 10:58 am
^^^^^^^^^^ Russian can't support is moronic graph, so makes poopie jokes about an educated American who just ripped him to shreds.
7 Sep 2023 11:08 am
7 Sep 2023 11:11 am
Sumela » 07 Sep 2023, 10:49 am » wrote: ↑ Lil Dumb Skanny **** his pants again. This ignorant redneck uses his socks as toilet paper.
The charts shows that the Elites have 99% of the money,
this raises the average or mean to a meaningless figure in terms of PPP.
The median shows that in China the middle class has much more $$$/purchasing power than Muricans
Sir,
I am.
Skan-Dog !! Go get the my flack-jacket out of the trunk.
And my Mossberg 590......and the fanny-pak that come with it.
Sir,
I just gave you an order.
While he is doing that.......I will burn you down.
@Skans
https://youtu.be/3EzVIERADTs?si=DiU2Fw8CvXrMfp6F
7 Sep 2023 11:51 am
Skans » 07 Sep 2023, 10:53 am » wrote: ↑ Really? I thought it showed net worth in a "median" graph and a "means" graph. I didn't see anything in your chart about Elites - but, you are free to walk me thorough your chart and show me the graph and figures that support what you say above there.
......Ummmmmmmmmmmmmmmmm, except your chart says nothing of the sort. What it does show, however, is the opposite of what you claim - i.e. that Americans are far wealthier than the Chinese. Not that I would believe your chart if it said otherwise, because we all know that you can't trust any financial reporting or accounting statements pertaining to China, the Chinese people or Chinese companies. The Chinese people do not understand Accounting and Finance. This is why the world (educated world) stays away from investing in China.
I will side with Skan-Dog.
7 Sep 2023 12:06 pm
Sir,
did you wish to engage ???
No dice.
@Skans
Only the killers.........are invited to this game.
7 Sep 2023 12:18 pm
Skans » 07 Sep 2023, 10:32 am » wrote: ↑ Hey, ******* (In Russian - "Donbas"), your chart shows that Americans have nearly twice the net worth of the Chinese. LOL!!!!
Go learn the difference between "Median" and "Mean". Freaking stupid Russian - every day you prove that Russians are the ****** of Europe.
America may have more than twice on the average compared to China, but average is not a great metric. If you have 30 families with 30k to 45k of net worth, but one has 900k, then average would be skewed unreliably high. The median is more accurate. Given the wealth gap in America, it isn't surprising that the average is high. We have billionaires compared to people who make 50k. China is better off since the medium is more of a reliable metric.
7 Sep 2023 12:31 pm
Lol, the underlying meaning of that graphic flew about 5 miles over his head!Sumela » 07 Sep 2023, 10:49 am » wrote: ↑ Lil Dumb Skanny **** his pants again. This ignorant redneck uses his socks as toilet paper.
The charts shows that the Elites have 99% of the money,
this raises the average or mean to a meaningless figure in terms of PPP.
The median shows that in China the middle class has much more $$$/purchasing power than Muricans
7 Sep 2023 12:35 pm
You get an "A" for the day.Vegas » 07 Sep 2023, 12:18 pm » wrote: ↑ America may have more than twice on the average compared to China, but average is not a great metric. If you have 30 families with 30k to 45k of net worth, but one has 900k, then average would be skewed unreliably high. The median is more accurate. Given the wealth gap in America, it isn't surprising that the average is high. We have billionaires compared to people who make 50k. China is better off since the medium is more of a reliable metric.
Extra points for continuing to explain that to ****!
7 Sep 2023 12:39 pm
Now, that is a good explanation. While the graph didn't say anything of the sort, I do appreciate what you've said here. But, I have to disagree with your conclusion that the Chinese are better off since the median is a more reliable metric. The reason I say that is because I simply don't believe the data. It's just a chart with no data or methodology attached to it, and therefore impossible to determine its level of accuracy.Vegas » 07 Sep 2023, 12:18 pm » wrote: ↑ America may have more than twice on the average compared to China, but average is not a great metric. If you have 30 families with 30k to 45k of net worth, but one has 900k, then average would be skewed unreliably high. The median is more accurate. Given the wealth gap in America, it isn't surprising that the average is high. We have billionaires compared to people who make 50k. China is better off since the medium is more of a reliable metric.
What I do know is that I have been able to afford to live in a detached single-family house, with yard, since I was about 30 years old. Before that, I would rent an apartment that was about 850 square feet and only had room mates while I was in college. Housing in China is way more expensive than in the U.S. 95 percent of new housing in China is high-rise multi-family apartments without private open spaces or backyards. The average dwelling is around 600 square feet. IMHO, this is a HUGE measure of wealth. We live better, have more access to owing our means of transportation and eat better than the Chinese. Heck, even people on WIC eat better than the Chinese.
7 Sep 2023 12:45 pm
Skans » 07 Sep 2023, 12:39 pm » wrote: ↑ Now, that is a good explanation. While the graph didn't say anything of the sort, I do appreciate what you've said here. But, I have to disagree with your conclusion that the Chinese are better off since the median is a more reliable metric. The reason I say that is because I simply don't believe the data. It's just a chart with no data or methodology attached to it, and therefore impossible to determine its level of accuracy.
What I do know is that I have been able to afford to live in a detached single-family house, with yard, since I was about 30 years old. Before that, I would rent an apartment that was about 850 square feet and only had room mates while I was in college. Housing in China is way more expensive than in the U.S. 95 percent of new housing in China is high-rise multi-family apartments without private open spaces or backyards. The average dwelling is around 600 square feet. IMHO, this is a HUGE measure of wealth. We live better, have more access to owing our means of transportation and eat better than the Chinese. Heck, even people on WIC eat better than the Chinese.
I don't know if the Chinese are better off or not. However, I do know that America is expensive, and the wages have decreased. Inflation is even worse than when Carter was president. Record breaking inflation along with decreased wages is a disaster for us.
7 Sep 2023 12:54 pm
Skanny is a funny lil guy.Fuelman » 07 Sep 2023, 12:31 pm » wrote: ↑ Lol, the underlying meaning of that graphic flew about 5 miles over his head!
Point is, US has too much money at the top. Period.
Its why we **** infrastructure, **** public schools etc etc.
7 Sep 2023 12:57 pm
While things might seem bad in the U.S., keep this in mind when comparing the US to ChinaVegas » 07 Sep 2023, 12:45 pm » wrote: ↑ I don't know if the Chinese are better off or not. However, I do know that America is expensive, and the wages have decreased. Inflation is even worse than when Carter was president. Record breaking inflation along with decreased wages is a disaster for us.
- In the U.S. there are roughly 500,000 homeless people. In China, the homeless population is over 3,000,000.
- The average residence in US is over 1,500 square feet. Most residences in China are rarely over 600 square feet.
- Most working Americans have at least one car they own. The Chinese typically do not own cars.
- Starvation is far more prevalent in China than in the US.
- Even if you take away the ultra rich Americans, Average Americans still have a far better life than the Chinese have in China.
What has not kept pace is housing. Housing has gotten much more expensive than what it was 30-40 years ago. An average employed 30 year old would not likely be able to afford a 1,800 sf single-family home in a decent neighborhood on a single income. Even though interest rates today are still less than they were in the 1990's.
7 Sep 2023 12:59 pm
They have a true middle class and much bigger one by %Vegas » 07 Sep 2023, 12:18 pm » wrote: ↑ America may have more than twice on the average compared to China, but average is not a great metric. If you have 30 families with 30k to 45k of net worth, but one has 900k, then average would be skewed unreliably high. The median is more accurate. Given the wealth gap in America, it isn't surprising that the average is high. We have billionaires compared to people who make 50k. China is better off since the medium is more of a reliable metric.
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