This page has been archived and commenting is disabled.

US Drops From First To Seventh In Average Wealth Per Adult, Behind Singapore, Sweden, And... France

Tyler Durden's picture




 

As 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.

h/t Nicolas

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 10/11/2010 - 17:03 | 641702 NOTW777
NOTW777's picture

hope and change in obama nation;

poverty

decline

Mon, 10/11/2010 - 17:24 | 641776 Panafrican Funk...
Panafrican Funktron Robot's picture

Four actually socialist countries > USA.  This is what happens when private ransacking of public money is cast as "socialism".  This is also what happens when white people vote for charismatic black guys because it makes them feel good.  To borrow a phrase from this fellow, we have to stop being hoodwinked by the political establishment on both sides.

Mon, 10/11/2010 - 18:18 | 641906 midtowng
midtowng's picture

So the abismal job grow of the past decade is because of Obama.

Funny. I thought Obama took office in 2009, not 2001.

Mon, 10/11/2010 - 18:55 | 641976 GoldSilverDoc
GoldSilverDoc's picture

Here is the song.

Maybe a little cannabis sativa, EtOH, or salvia divinorum before you listen...

http://www.youtube.com/watch?v=ht8JDbWUM1E

Mon, 10/11/2010 - 19:28 | 642037 f16hoser
f16hoser's picture

Our last 4 presidents have done this. however, look no further than Dodd and Franks (fag) for our current situation. Bush Jr. told his Democratic Congress that housing was in a bubble. Franks was too busy smoking pole to listen....

Mon, 10/11/2010 - 20:06 | 642084 nmewn
nmewn's picture

Armando Falcon.

http://www.youtube.com/watch?v=_MGT_cSi7Rs

Systemic Risk, Bwaney & Schumer.

Obama voted present...again...surprise surprise surprise.

http://www.youtube.com/watch?v=cMnSp4qEXNM&feature=related

Mon, 10/11/2010 - 22:36 | 642346 midtowng
midtowng's picture

I don't recall Bush the Younger talking about a housing bubble. I remember him talking about the "ownership society".

What's more, the Democrats didn't gain control of Congress until january 2007, after the housing bubble already popped.

Mon, 10/11/2010 - 23:28 | 642420 snowball777
snowball777's picture

C'mon, G.

Clinton had Rubin the Vizier whispering stupid nothings in his ear the whole time and Dems have been more than snuggled up with the banksters since Garn-St.Germain opened the ARM floodgates that gave us a preview of this clusterf*** in the 80s. All but 8 senators (Boxer, Feingold, Dornan,...) passed the repeal of Glass-Steagall; those other 92 weren't all Pugs.

You think Schumer and Donk don't play golf with these scheister motherf***ers?

Mon, 10/11/2010 - 23:30 | 642424 TBT or not TBT
TBT or not TBT's picture

The Bush (W) administration lobbied Congress to reign in the excesses of Fannie and Freddie years before that.   Democrats in Congress and the usual RINO's stalled all such efforts.   It's not because you personally don't recall hearing it come out of Bush's mouth that there were not clearly drawn sides on the matter before the pop arrived.   There were.    Barney Frank and Chris Dodd and company have a lot to do with the excesses Fannie and Freddie were allowed to undertake, to the great profit of its executives and insiders, to as yet uncounted cost to the taxpayers and to the Republic itself.

Mon, 10/11/2010 - 21:55 | 642265 papaswamp
papaswamp's picture

I believe the point was that the 2 party symbiotic system has left voters with choosing between bad and worse...neither really a good choice. The best move of the voter would be to break the 2 party system, impose term limits and make insider trading illegal for members of congress. that would be a nice start anyway.

Mon, 10/11/2010 - 18:33 | 641936 yabyum
yabyum's picture

PANAFRICAN.Please explain how Palin Mccain would have done better. This cancer is more than two years old.

Tue, 10/12/2010 - 07:33 | 642684 cossack55
cossack55's picture

Easy. We would all be ashes by now from nuke holocaust and not have to worry about it.

Mon, 10/11/2010 - 18:59 | 641983 dlmaniac
dlmaniac's picture

They were using the wrong method. Should they use our Mark-To-Mirage / Mark-To-Maturity / Mark Debt As Wealth or any similar accounting we'd be #1 by a light-year.

Mon, 10/11/2010 - 19:59 | 642076 Rasna
Rasna's picture

You're joking.  Right???

I didn't see any sarcasm off alert...

I agree that there is no difference between the Dems and Rethugs, but..

you are joking.

Mon, 10/11/2010 - 20:31 | 642131 PuppetRepubl1c
PuppetRepubl1c's picture

You have it exactly right, America is not Capitalist or Socialist, it is a Crony Capitalist State (aka Banana Republic, only with more wealth).

 

Ironically it would be better for the American people if we were either Socialist or Capitalist (i prefer Capitalist) but instead we have Crony Capitalism with a dash of Socialism which in my mind is the worst fucking system of them all!!!!

 

 

Mon, 10/11/2010 - 20:45 | 642153 docj
docj's picture

Couldn't agree more.

Mon, 10/11/2010 - 18:01 | 641873 rocker
rocker's picture

Who did this :

The Share of USA Income gains Going to the Top 1 Percent at Highest Level Since 1920. 

1923 to 1929 was 70% to the Richest

1960 to 1969 was 11% to the Richest

1976 to 1979 was 33% to the Richest

1982 to 1989 was 41% to the Richest

1992 to 2000 was 42% to the Richest

2002 to 2007 was 62% to the Richest

…………………………………………………

The Share of USA Income gains Going to the Bottom 90 Percent at the Lowest Level Since 1920.

1923 to 1929 was 18% to the Poorest

1960 to 1969 was 62% to the Poorest

1976 to 1979 was 43% to the Poorest

1982 to 1989 was 22% to the Poorest

1992 to 2000 was 29% to the Poorest

2002 to 2007 was 12% to the Poorest

.................................................................

Check out the drop off starting on 2002.  Reality Hurts.  But hey, we made millionaires billionaires.

And CEO's are richer than ever selling shares as the CBs and the FED pomotize them. 

Mon, 10/11/2010 - 19:50 | 642062 Dental Floss Tycoon
Dental Floss Tycoon's picture

So since the ranking was based on the Average wealth per adult it is even worse than it appears.  I wonder what the chart would look like if it was based on median wealth.  I suspect that we would rank much lower.

Mon, 10/11/2010 - 21:45 | 642249 rocker
rocker's picture

The real problem with this data is that it was much higher before the Depression of 1929 than it is now. Dow 11,000 ???

Tue, 10/12/2010 - 01:50 | 642575 ConfederateH
ConfederateH's picture

Funny how when the populists start ranting about the rich, they tend to go into hiding and then it is the "poorest" who suffer the most.

Mon, 10/11/2010 - 18:44 | 641953 1100-TACTICAL-12
1100-TACTICAL-12's picture

The main problem is all the jobs have moved out of the country, and what was left has been on a large percentage absorbed by illegals. I guess when enough people are eating out of trash cans we might wake up. Until we return actual production , things will just continue to decline..

Mon, 10/11/2010 - 17:14 | 641704 Mercury
Mercury's picture

But wait, if we import more illiterate, third world peasants that will make us richer....right?

Is this a tally of assets people actually own right now or are they rolling in the present value of a bunch of government benefits too?

And how do you determine with any real accuracy the wealth of a given Italian adult anyway?

Mon, 10/11/2010 - 17:32 | 641801 Edmon Plume
Edmon Plume's picture

The USA is still number one, they just measured it wrong.

First, you have to define "adult" which varies by country.  The USA, for instance, provides childhood up until age 30, at least for obamacare.  Since the EU did this analysis, they must not understand this relevant point.  If you account for all the bottle sucking 30-year-olds, the number of adults should decrease, thus causing the available wealth per adult to increase.

Mon, 10/11/2010 - 18:30 | 641915 Mercury
Mercury's picture

Everyone defines "birth" differently too which is why international infant mortality rate comparisons are meaningless.  In the US you are "born" pretty much the second you come out.  In different countries in Europe they don't start the clock for days, weeks, sometimes months - and if a baby dies before then it's not counted.

Mon, 10/11/2010 - 18:48 | 641956 Miss Expectations
Miss Expectations's picture

The USA is still number one, they just measured it wrong.

You are absolutely correct:

Obesity (most recent) by country

http://www.nationmaster.com/graph/hea_obe-health-obesity

# 1   United States: 30.6%  # 2   Mexico: 24.2%  # 3   United Kingdom: 23%  # 4   Slovakia: 22.4%  # 5   Greece: 21.9%  # 6   Australia: 21.7%  # 7   New Zealand: 20.9%  # 8   Hungary: 18.8%  # 9   Luxembourg: 18.4%  # 10   Czech Republic:

14.8%

Mon, 10/11/2010 - 23:40 | 642429 Mercury
Mercury's picture

We're still #1 even with 1 in 8 of us on food stamps! U-S-A! U-S-A!

Mexico is the second fattest country on Earth? How poor do you have to be exactly to not be able to afford to be fat?

Even Hungary made the obesity top 10.  Now that is a giant step for mankind.

 

Tue, 10/12/2010 - 03:03 | 642601 Mariposa de Oro
Mariposa de Oro's picture

Mercury,

Not all obesity is due to uncontrolled eating and laziness.  Much of it is due to an underlying health issue.  Many people are afflicted with type 2 hypothyroidism.  The thyroid makes enough hormone to show a normal blood test reading, however, the body's cells are unable to utilize the hormone normally.  The result is a person who has symptoms of hypothyroidism but has a normal blood test.  Few doctors bother to look beyond the standard blood test.  http://www.21centurymed.com/?page_id=12

I've been dealing with this for about 15 years.  I'm hoping to find a doctor who will treatment for hypothyroid.  I'm not living in the USA.....I'm seriously thinking about coughing up the money to go to the clinic.

Tue, 10/12/2010 - 06:34 | 642655 Mercury
Mercury's picture

Well best of luck with that but the thyroid can't make fat out of thin air and at some level obesity (not individual but widespread in a population) is a side effect of affluence, abundant food or both.  I understand that some populations/ethnic groups have greater predispositions to these kinds of things but I'm pretty sure that the sudden generational shift toward obesity (in America for sure) is the direct result of eating too damn much.

Tue, 10/12/2010 - 00:55 | 642541 Stuck on Zero
Stuck on Zero's picture

Actually Samoa is #1 for obesity at 75%.

Mon, 10/11/2010 - 18:58 | 641980 Let them all fail
Let them all fail's picture

How about adjusted for currency changes?

Mon, 10/11/2010 - 17:07 | 641711 Count Floyd
Count Floyd's picture

When you can't (or won't) control the influx of Third World peasantry into  the country, what would you expect?

Mon, 10/11/2010 - 17:11 | 641733 tmosley
tmosley's picture

That's right, blame the Mexicans.  Cast no aspersions towards the people in power who are the actual cause.

Lots of other impoverished people moved to the US before, including most of the population of Ireland, yet the US only got richer during those times.  Why?  Because the US government was only 2% of GDP!

Mon, 10/11/2010 - 17:21 | 641766 Edmon Plume
Edmon Plume's picture

Uh, yes and no.  True the government was smaller in relation to GDP, but there was also a lack of hyphenated Americans.  Regardless of background, everyone at least tried to pull together, and notwithstanding the occasional culture-on-culture dogpile, they rallied around a national language, and a national identity.  Not so today, and with the gubmint interfering, they are attempting to make our individual identities more pronounced by worshiping diversity and multiculturalism.

In any case, that same government has refused to enforce any semblance of a border, to its detriment.

Mon, 10/11/2010 - 17:38 | 641821 CrockettAlmanac.com
CrockettAlmanac.com's picture

there was also a lack of hyphenated Americans

 

In the late 19th and first half of the 20th century a number of ethic social clubs thrived in my small Western Pennsylvnia town: Jednota (Slovak), Johnny Bull (English), Germania , and Belgian Club. Up the road a bit was the Italia and the Kosciuszko Club. Apparently any available bar stool suited the Irish.

Mon, 10/11/2010 - 17:50 | 641846 still kicking
still kicking's picture

Damn straight, no need to start any shit as long as the drinks are pouring for us mick's, unless the italians start it....it's just an instinctual dislike between us I think.

Mon, 10/11/2010 - 18:13 | 641896 Dolar in a vortex
Dolar in a vortex's picture

I think not! We LOVE their women!

Tue, 10/12/2010 - 09:38 | 642895 still kicking
still kicking's picture

I meant the meathead guys

Mon, 10/11/2010 - 19:48 | 641999 hbjork1
hbjork1's picture

The late 19th and early 20th century, life for the populace of all races was nothing like as comfrortable as we believe to be our right today.  The Irish and Italians worked in the skilled trades like Mexicans (the only analogy that compares well today). The infrastruture and technology that they grunted out their lives to put in place has elevated our expectations.  

Went ~300 miles this weekend for a visit with a brother-in-law; football game-Yes.  The most interesting part was the Chicago Marathon.  54,000 absolutely clogging Michigan Avenue which we were trying to cross on foot in going church, and the Modern Art Museum 

Non of this would have been possible in my grandparents time. 

Somewhere, I have seen a picture of the couch that John D. Rockefeller slept on at his office, which he did much of the time when he was building Standard Oil.  Didn't look much like the bed I slept in last night.

We, the people, are going to have to have an attitude adjustment.

Tue, 10/12/2010 - 21:10 | 644961 dussasr
dussasr's picture

People made the exact same arguments during previous waves of immigration - except they typically also included drivel about the increase in crime associated with the unwashed immigrating hordes.  These arguments don't stand up to an open reading of history.

The immigrants melded into society in the past and they will again.  If you don't believe me find some Mexican immigrants that can't speak English and then talk to their younger children - if they've been here more than a year they are English speakers.

Economic studies show that the average wage and GDP of the US would go down if immigration were clamped down and go down a LOT if all the illegals were deported.

Mon, 10/11/2010 - 17:32 | 641798 Misstrial
Misstrial's picture

Who's blaming Mexicans?

No one mentioned them in their posts except you.

btw, illegals come from all corners of the globe as anyone in California or NYC can tell you.

Here in California, many illegals come from Central America (currently Guatamala in particular), South America, Asia (China and Vietnam), among other nations.

~Misstrial

Mon, 10/11/2010 - 17:34 | 641807 Edmon Plume
Edmon Plume's picture

And the 30,000 some-odd Irish in the country who have overstayed their visas.

Mon, 10/11/2010 - 17:44 | 641834 tmosley
tmosley's picture

Pardon me for not mentioning every single nationality that homedude above would include in the umbrella term "third world peasantry".  Mexicans are the largest and most visible immigrant group, but where they are from is not material to my argument.

The only thing that matters is that they are getting "our" welfare benefits, and otherwise draining "our" treasury.  No-one ever questions the welfare benefits, only the people taking advantage of them.  I say we blame the people who actually created this mess!  I don't give a shit about any Mexican or any other nationality.  Kill em, deport em, leave em, I don't really care.  Just don't blame them for a problem that isn't of their making.

Tue, 10/12/2010 - 07:35 | 642686 cossack55
cossack55's picture

Most of the illegality in this country is centered on DC.

Mon, 10/11/2010 - 18:20 | 641911 midtowng
midtowng's picture

It's always the fault of the people with the least amount of political power. It's never the fault of the wealthy elite who create policies.

I learned that from listening to right-wing radio.

Mon, 10/11/2010 - 19:54 | 642060 scaleindependent
scaleindependent's picture

+1

 

The ultra-wealthy elite get TARP, 0% Discount Window Fed loans, QE, QE2, mark to fantasy accounting, Foreclosure fraud. Regulators and prosecutors in their back pocket and yet we focus on the f'n "wetbakks".

When the INS went investigating what companies hired illegal aliens in So. Cal. the COMPANIES told the govt. to stop investigating.

So the illegal immigrant problem is maintained by the same corporatist motivation that is causing jobs to be offshored to Asia. Both increase Profit$

 

LOL

Mon, 10/11/2010 - 20:48 | 642157 PuppetRepubl1c
PuppetRepubl1c's picture

exactly, the same corporations who shipped your jobs overseas are the same corporations employing illegal aliens in the US.  Why?  Because they work hard for cheap!  (should be obvious)

Unfortunately for the remaining middle class the government is too stupid/corrupt to protect its citizens.  When looking back at history people will be amazed how easily China conquored the United States, it is literally straight out of the Art of War

 

He who wishes to fight must first count the cost. When you engage in actual fighting, if victory is long in coming, then men's weapons will grow dull and their ardor will be dampened. If you lay siege to a town, you will exhaust your strength. Again, if the campaign is protracted, the resources of the State will not be equal to the strain. Now, when your weapons are dulled, your ardor dampened, your strength exhausted and your treasure spent, other chieftains will spring up to take advantage of your extremity. Then no man, however wise, will be able to avert the consequences that must ensue... In war, then, let your great object be victory, not lengthy campaigns.

-Sun Tzu, the Art of War



 

Mon, 10/11/2010 - 18:40 | 641946 LowProfile
LowProfile's picture

Pick one:

1.  Open borders

2.  Social saftey net

Because you can't have both.

Mon, 10/11/2010 - 20:50 | 642161 docj
docj's picture

This.

Mon, 10/11/2010 - 18:48 | 641963 1100-TACTICAL-12
1100-TACTICAL-12's picture

Spot on,but  they came here legally. The illegals are forced to hide in the shadows and take what they can get, thus driving down wages. It is 100% failure by the government.

Mon, 10/11/2010 - 17:07 | 641713 stev3e
stev3e's picture

The wealth producers and wealth havers are leaving the US in greater numbers than ever before.  They will continue to leave in the future.

Mon, 10/11/2010 - 17:12 | 641740 TheMonetaryRed
TheMonetaryRed's picture

"Wealth producers"

That's funny. 

Mon, 10/11/2010 - 17:39 | 641826 CrockettAlmanac.com
CrockettAlmanac.com's picture

I don't get it.

Mon, 10/11/2010 - 17:47 | 641839 tmosley
tmosley's picture

He's a communist.  He thinks blind effort and/or sticking money into the ground creates goods and services.

Mon, 10/11/2010 - 18:11 | 641892 BobPaulson
BobPaulson's picture

Are you tmosley or Oswald Mosley?

Mon, 10/11/2010 - 19:36 | 642036 tmosley
tmosley's picture

What, pointing out people as communists makes me a member of the British Union of Fascists?  I guess all that fat in your bitchtits must have gone to your head.  Better drain those pecs!

Further down the thread, he tells anyone who is wealthy/proud of their contribution to society to get out (apparently not realizing that if all the evil rich people left, he'd be living in North Korea style conditions inside a year).  This guy can go fuck himself.  And quite honestly, so can you, if you can't tell that I'm an anarcho-capitalist, which is about as far from a fascist as one can get (though morons do have trouble telling them apart--happens all the time, especially in conversations with hostile, small minded liberals, and less often with neoconservatives, the charge pisses me off all the same).

I guess that tit-fat in your brain also cause you to miss his name, MonetaryRED.

Mon, 10/11/2010 - 17:14 | 641745 Blano
Blano's picture

I'm sure he's got it covered....the ones that do get off their asses will just show up at multiple polling booths.  Problem solved.

Mon, 10/11/2010 - 17:26 | 641782 Edmon Plume
Edmon Plume's picture

The beauty of it is you don't even have to go that far:  All you need is Diebold.  The days of having to cheat by actually motivating people is over.  Now you can cheat from the comfort of your own (white)house.

Mon, 10/11/2010 - 18:48 | 641960 Mercury
Mercury's picture

Most precincts in most states perform no ID check of any kind at the polls. Every time legislation is introduced to have some kind of verification system in place to make sure that voters are who they say they are (before they make it to the paper ballot or the Diebold machine) Democrats and only Democrats go absolutely apeshit.

That's kind of all you need to know when asking the question: who practices voter fraud?

Mon, 10/11/2010 - 20:52 | 642168 docj
docj's picture

Frankly, that's not kind of all you need to know - it's actually all you need to know.

Cheers -

Mon, 10/11/2010 - 20:47 | 642156 Bringin It
Bringin It's picture

Edmon - You've hit the nail on the head.  Diebold makes ATMs, so they know how to make secure systems for voting ... but they don't.

Mon, 10/11/2010 - 17:10 | 641726 Village Idiot
Village Idiot's picture

The French?!  So much for "Freedom Fries".

Mon, 10/11/2010 - 17:49 | 641844 TBT or not TBT
TBT or not TBT's picture

Don't worry, they are miserable in France.    Go measure the square footage they live in, the average size and/or age of their car, the amount of legal and illegal drugs they consume, or..wait for it...the average number of children native French people are choosing to have.   It is a fools paradise.    Ergo, this is a flawed study, measuring nothing of interest.

Mon, 10/11/2010 - 18:22 | 641917 midtowng
midtowng's picture

I wish I could live in that fool's paradise.

Funny how people from France aren't trying to imigrate here, if what you say is true.

Mon, 10/11/2010 - 21:47 | 642252 TBT or not TBT
TBT or not TBT's picture

They are imigrating here, not just trying to.    Thing is, the legal immigration door isn't any wider open for them than for citizens of just about any other country on the planet.

Tue, 10/12/2010 - 00:04 | 642471 docj
docj's picture

I wish I could live in that fool's paradise.

T'aint nothing stopping you, hombre.  Apply for a visa, wait for your turn in queue, and board an Air France jet for the paradise of your chosing.

Funny, I'm surrounded at work by French people who evidently haven't immigrated here.

Mon, 10/11/2010 - 18:24 | 641922 xanax
xanax's picture

Much of this particular study is skewed by exchange rates, as it's measured in USD.  Measured in Gold would be more interesting.

Mon, 10/11/2010 - 20:01 | 642078 Bob
Bob's picture

I'm confused, my understanding is they use both more and better drugs than we do.  As for the materialistic stuff, they don't define themselves in terms of money the way we do.  In my considerable personal experience, they are both happier and less stressed than Americans by far. 

Mon, 10/11/2010 - 23:38 | 642430 TBT or not TBT
TBT or not TBT's picture

You're being snowed by their skills at appearing a certain way, to a desired effect.  The verb you are looking for is "paraitre" to appear.   It is quite the high art among them.   Indeed as to materialistic competition, the government flattens outcomes so severely that what is left is competion based on notions of class/status/education/connections.   A lot of that is ineffable stuff, thus their emphasis on projecting a honed image.    

Elitism derives from the French elitisme, all the same.

Another possibility is you are meeting French people of an age to have profited from socialism more than they have paid for it, or else the folks you know are government workers or others in special niches like that.   Everybody else over there is sucking it one way or the other.

Mon, 10/11/2010 - 20:10 | 642092 ToddGak
ToddGak's picture

Yeah, I'm sure 6 weeks of paid vacation a year, killer food, hot, skinny women everywhere, and excellent free health care and education make life a living hell.

Mon, 10/11/2010 - 23:02 | 642385 The Rock
The Rock's picture

+1

Btw, it's more like 8+ weeks vacation, pensions, no layoffs, etc. And they can take 4 weeks off in one shot. Try doing business with any French-based company in August. They may as well be shut down. Try taking more than 2 weeks off at once in the U.S. without the boss giving you a hard time.

Mon, 10/11/2010 - 23:48 | 642445 TBT or not TBT
TBT or not TBT's picture

All of which guarantees permanent high levels of unemployment and staggering levels of inactivity.   Despite all the protections the terror of losing one's job is palpable there in the private sector, because all of those protections means companies are very very careful about hiring anyone, which translates to great difficulty getting another job quickly.   If they don't get the next job quickly enough, the greater amount of time they are unemployed, the more that delay starts to stink to potentional recruiters, to the point job seekers find themselves "out".    For those who have jobs, they hang onto them for dear life, despite employers working them to the edge.   See, employers find it very expensive (and risky) to add another employee, so they prefer to work everyone they have harder rather than to add staff they might have difficulties firing when either they don't work out or they don't need them anymore.    Naturally, all those inactive people and comfy government workers and hordes of early retirees have to be paid for, so those who have jobs are taxed to the hilt in various salary deductions and income taxes, then whopped hard again with the enormous TVA tax.    Then their disposable income goes to high rents and high prices driven by the generalised shortage/high prices of everything that socialism produces everywhere it is applied.  

Tue, 10/12/2010 - 19:58 | 644801 Bringin It
Bringin It's picture

Rock - I have avatar envy.  Never forget.

Mon, 10/11/2010 - 17:10 | 641727 saulysw
saulysw's picture

Aussie, aussie, aussie! Oi, oi, oi!!

Mind you, I think the only reason we are 3rd is that we are still in a property bubble.... which won't end well, as they say. 

Mon, 10/11/2010 - 17:13 | 641743 Matto
Matto's picture

And will smash the USD value of the remnants. 

Tue, 10/12/2010 - 04:42 | 642625 Praetor
Praetor's picture

Dickheads at BIS Shrapnel today released a report stating that housing in Australia will increase 20% in the next three years, especially in Adelaide, Perth and Sydney.

I wonder what they have been smoking at BS Shrapnel?

Mon, 10/11/2010 - 17:10 | 641728 Blano
Blano's picture

We might be behind France, but at least we're NOT France, so I'm ok with this.

Mon, 10/11/2010 - 17:18 | 641754 Matto
Matto's picture

If you think france sucks, you probably haven't ever been to france.

Mon, 10/11/2010 - 17:24 | 641774 Xedus129
Xedus129's picture

French still smell.

Mon, 10/11/2010 - 17:56 | 641862 Brak82
Brak82's picture

so do fat-ass americans...

Mon, 10/11/2010 - 17:25 | 641779 tmosley
tmosley's picture

Be careful, they're farting in your general direction.

Mon, 10/11/2010 - 17:42 | 641830 CrockettAlmanac.com
CrockettAlmanac.com's picture

Your mother was a hamster and your father smelled of elderberries.

Mon, 10/11/2010 - 20:08 | 642090 colorfulbliss
colorfulbliss's picture

You don’t frighten us, English pig-dogs! Go and boil your bottom, sons of a silly person. I blow my nose at you, so-called Arthur King, you and all your silly English k-nnnnniggets. Thpppppt! Thppt!Thppt! 

Mon, 10/11/2010 - 17:27 | 641785 Shameful
Shameful's picture

At least the French have some backbone.  Our leaders could be eating babies on CSPAN and wiping their jowls with the nations 401ks and we would simply ask when the next game was on.

Mon, 10/11/2010 - 17:53 | 641856 Edmon Plume
Edmon Plume's picture

Yes, they do have backbone, which is the most recognizable side of them in battle.

Mon, 10/11/2010 - 17:53 | 641857 still kicking
still kicking's picture

I don't disagree with your analysis of our leaders and our response but when exactly did the French get backbones?  I think I missed that part in history class....and please don't point to napoleon, that was the ultimate cowardice of the French failing to say no to a tyrant.

Mon, 10/11/2010 - 18:09 | 641889 Rainman
Rainman's picture

....the WWII GIs had the best description......the Frenchies fight with their feet and fuck with their face.

Mon, 10/11/2010 - 18:32 | 641935 Shameful
Shameful's picture

Please the French as cowards bit started because of them not being fans of NATO and De Gaule breaking Bretton Woods.  If your definition of coward is losing to the German army in WW2 then is not also Poland, Czech Republic, Denmark, Netherlands, Belgium all also cowards?

And as to Nappy, he was far better then what they had.  Read more up in the monarchs leading up to the Revolution and the hellish nightmare the revolutionary leaders were.  I'm not French (at all), have never been to France and have no skin in the game but the dislike of the French in America was pure propaganda.  Same as Stalin was Uncle Joe during the war.  Do your own research, don't just swallow opinions handed to you.

Mon, 10/11/2010 - 20:38 | 642141 Dental Floss Tycoon
Dental Floss Tycoon's picture

Who you callin' nappy.  That's a racists remark and I want an apology.

Mon, 10/11/2010 - 20:52 | 642169 Bringin It
Bringin It's picture

Ther French had the most effective and feared troops in Europe for a long long time.  The meat grinder of Verdun caused a lot of them to see war for what it is.  The destruction of the common man for the benefit of the wealthy.

Tue, 10/12/2010 - 00:12 | 642485 TBT or not TBT
TBT or not TBT's picture

Dien Bien Phu.   Helluva a courageously stupid thing that was.

Tue, 10/12/2010 - 09:45 | 642911 still kicking
still kicking's picture

Actually I've read extensively on Napoleon and the French surrender to Germany in WWII, you actually need to do your research.  The French refused to risk Paris being damaged and surrendered the army when they easily could have delayed the Germans long enough for the Brits to establish a solid beach head in the sout of France, they also weaseled out of an agreement to turn over the navy to Churchill if they surrendered to Hitler, fortunately Churchill just sank the fleet.  As for "nappy" you should read a few books on the fellow, people were nothing to him but meat for the grinder, he destroyed 2 generations of young french men and the people still allowed him to, fortunately his own lack of care cost him his position when he lost a major battle.

I actually do realize that for centuries the french were a very strong powerful army but the revolution and afteraffects of Napoleon broke them.

Mon, 10/11/2010 - 18:01 | 641870 Diogenes
Diogenes's picture

"At least the French have some backbone.  Our leaders could be eating babies on CSPAN and wiping their jowls with the nations 401ks and we would simply ask when the next game was on."

 

Where do you get that? Every major program of the Obama administration from TARP to Obamacare has been over the vociferous protests of the American public. The record shows the public was from 100 to 1 to 300 to 1 agains the bank bailouts. Don't you remember how the Tea Party started as a campaign to send tea bags and tea bag labels to politicians as a reminder of the Boston Tea Party?

Even Obama's election was a protest vote against Bush.

Don't blame the American public. They did what they could to make their views known. The government simply ignores them, while the mainstream media ridicules them.

Mon, 10/11/2010 - 18:06 | 641882 granolageek
granolageek's picture

Repeat after me: The TARP passed on Bush's watch. Before the election even.

Mon, 10/11/2010 - 19:04 | 641997 bugs_
bugs_'s picture

Yes TARP was passed by a Democrat Congress on Bush's watch.

Just to illustrate the true nature and depth of our problem.

Mon, 10/11/2010 - 21:41 | 642238 CrockettAlmanac.com
CrockettAlmanac.com's picture

Remember this? This destroyed McCain's Palin bump and it was all downhill from there. If McCain had instead campaigned against TARP he might have had an actual chance at victory in the Presidential race.

 

McCain suspends campaign to work on Wall St plan


NEW YORK | Thu Sep 25, 2008 5:40am EDT

NEW YORK (Reuters) - Republican White House hopeful John McCain threw the U.S. campaign into turmoil on Wednesday by calling for a delay in the first presidential debate to try to forge a Wall Street rescue plan -- a surprise move promptly rejected by Democrat Barack Obama.

The political stunner came as some polls showed McCain falling behind Obama in their race for the November 4 election. Republicans and the White House welcomed McCain's move as a needed appeal for both parties to work together, while Democrats suspected a publicity stunt ahead of Friday's scheduled debate.

The Arizona senator announced he would suspend his campaign, pull television advertising, halt fundraising and return to Washington on Thursday to try to help negotiations over a stalled $700 billion bailout plan for Wall Street.

"We must meet as Americans, not as Democrats or Republicans, and we must meet until this crisis is resolved," McCain said, urging Obama to join him.

http://www.reuters.com/article/idUSTRE48O0KW20080925


Mon, 10/11/2010 - 18:27 | 641927 Shameful
Shameful's picture

I must have missed the riots and protest marches?  Can you point them out to me?  Calling up to bitch or sending a sternly worded letter is pretty much ignored isn't it.

Mon, 10/11/2010 - 18:47 | 641959 Spastica Rex
Spastica Rex's picture

I hear you, but Jesus Christ, with free speech now confined to special zones, what are people supposed to do?! Oh, wait...

Mon, 10/11/2010 - 21:45 | 642250 CrockettAlmanac.com
CrockettAlmanac.com's picture

Can you cite evidence showing that protesting is more effective than letter writing?

Mon, 10/11/2010 - 18:23 | 641918 midtowng
midtowng's picture

I'm not OK with it.

Mon, 10/11/2010 - 17:11 | 641731 lynnybee
lynnybee's picture

if I could just sell all that real estate I was going to use to fund my retirement....... you know, that song&dance that was fed to us about "it only goes up" & "they're not making anymore of this lake front property !", I would leave.    Let's see, 35 years of being a good citizen, working hard, paying off my home, raising 3 kids & it's all basically worthless.    can anyone tell me what happens to a home purchased for $300,000 at the top of the real estate bubble in 2005, what happens to the true value of that once we hit hyperinflation ?    thank you...

Mon, 10/11/2010 - 17:18 | 641753 cossack55
cossack55's picture

It will probably top out in the $3-4 Quadrillion range (FRNs) or 11 Silver Eagles.

Mon, 10/11/2010 - 17:20 | 641764 Matto
Matto's picture

Ha ha, id guess if you can safely hold onto it and survive alright you'll be paying off your mortgage with the equivalent of $147.50 in todays money. Just have to be prepared to enough to come through the other side intact. Any fish in that lake? Hows the long-term fixed mortgage rates looking?

Mon, 10/11/2010 - 17:24 | 641772 cossack55
cossack55's picture

Got it all, babe.  Been preppin for many years.  Even have the final redoubt ready to occupy.  Plenty of fish.

Mon, 10/11/2010 - 21:39 | 642243 StychoKiller
StychoKiller's picture

I believe that you said you were buying Silver eagles, keep on with that plan, because no one in their right minds should be thinking of selling the roof over their heads until grass is growing in the bomb craters.

Mon, 10/11/2010 - 17:11 | 641734 TheMonetaryRed
TheMonetaryRed's picture

Dear Wealthy and other Self-Styled "John Galt" Types,

Please leave. 

Quickly.

 

Love, 

Everybody Else

 

P.S. - Don't let the door hit you in the ass on the way out. 

Mon, 10/11/2010 - 17:27 | 641787 tmosley
tmosley's picture

Enjoy your Khmer Rouge.

Seeya!  Wouldn't wanna beya!

Mon, 10/11/2010 - 17:32 | 641800 doolittlegeorge
doolittlegeorge's picture

i'm an urban John Galt myself.  I'm surrounded by so much humanity they don't even know i exist.  Now excuse me, I'm off to my Guerilla garden in my black pajama suit with a trowell in my hand ready to do battle.

Mon, 10/11/2010 - 19:41 | 642047 nmewn
nmewn's picture

"Dear Wealthy and other Self-Styled "John Galt" Types,

Please leave. 

Quickly."

You still don't get it do ya...ROTFLMAO.

Mon, 10/11/2010 - 20:29 | 642130 doolittlegeorge
doolittlegeorge's picture

did all he say was "I'LL PISS IN YOU'RE FUCKING SKULL"?  Noooo. I think he was misquoted because "that's not what I saw 'em do before using it as a candle holder."  Newman is it?

Mon, 10/11/2010 - 21:13 | 642199 nmewn
nmewn's picture

Could you try...really...really hard to be a little more coherent on your first part?

"Newman is it?"

No, do very little george. Sorry to break it to you but you're dyslexic.

It's like this...for the last time...I'll go really, really S-L-O-W...just for you.

nme=enemy...STOP...for new word.

NOW, BEGIN AGAIN...wn=within. STOP. Now put the two together...S-L-O-W-L-Y. 

Say...enemy within...now say nmewn. Got it?

I sense you mouthing the above...well done junior, you're now qualified for the Iranian code busters Hall of Shame...LOL.

Mon, 10/11/2010 - 17:12 | 641736 Matto
Matto's picture

Australia number 3 with a bullet!

(plenty of cashed up bogans)

 

Mon, 10/11/2010 - 17:12 | 641737 Edmon Plume
Edmon Plume's picture

Not arguing that things aren't looking bad in the USA, but when you phrase the question in regard to wealth per adult, the easy answer is those countries are committing demographic suicide, and all they have are adults, and fewer and fewer of them due to pathetic replacement ratios.

Mon, 10/11/2010 - 17:16 | 641750 kroegman
kroegman's picture

I am surprised that France ranks before Luxembourg as first Euro-country... Luxembourg is really rich on a per-capita basis.

Was there any indication on how "wealth" was calculated (including first home or not?). Also currency fluctuations may give the wrong impression. With a  10% increase in the dollar vs major currencies, US would already be forth.

Mon, 10/11/2010 - 17:20 | 641760 cossack55
cossack55's picture

No shit.  After two or three months of QE2, we will all be billionairs.  Can't wait.  Been looking at a cool 123' yacht.

Mon, 10/11/2010 - 17:25 | 641780 Xedus129
Xedus129's picture

123'?  Go for the 250' dude

Mon, 10/11/2010 - 18:01 | 641874 Biosci
Biosci's picture

No way.  I'm going smaller.  A larger one and you'll have to have a crew; you know how much labor is going to cost then???

Mon, 10/11/2010 - 18:19 | 641908 puckles
puckles's picture

A 32 footer is the limit of singehanding, whether sail or motor, unless you have all manner of gadgetry assisting you, and even then...erm.

Mon, 10/11/2010 - 17:22 | 641763 cossack55
cossack55's picture

Oops.

Mon, 10/11/2010 - 17:19 | 641757 ZeroPower
ZeroPower's picture

3rd day of full-day strikes here in France in as many weeks.

How anything gets done here is beyond me.

Mon, 10/11/2010 - 17:24 | 641775 Matto
Matto's picture

Time to call an extended holiday.. i mean strike!

Mon, 10/11/2010 - 17:19 | 641758 Bob
Bob's picture

Hell, Tyler, given that the top 0.5% own about, what, 50% of the wealth, when they leave won't the average then drop us about 50 places in the rankings?

 

Mon, 10/11/2010 - 17:20 | 641762 kaiserhoff
kaiserhoff's picture

Sirs,

It has come to our attention that grain prices are spiking.  We have it on good authority from the high command that this has nothing to do with the noble efforts of our dear leader, Ben von Numbnutts.  How could it?  Who would dare suggest...?

Grain prices have been know to spike for all sorts of silly and trivial reasons, like wars, floods, slave rebellions..., but I digress.  Ben the Bald's diligent efforts to flood the known universe with federal reserve notes must remain, like Ceasar's wife, above suspicion.  It is therefore, with a heavy heart, and great empathy and understanding of the tribulations of great men, we make the following trivial alteration.

In order to promote world peace, avoid mass hysteria, and escape ruinous litigation..., the heroic efforts of Comrade Ben shall no longer be referred to as pushing on a string.  Instead, they shall henceforth, now, and forevermore be designated as "pissing up a rope."  Please make a note of it.

 

                                                             /sarcasm off/

                                                            NOT the management

Mon, 10/11/2010 - 17:35 | 641811 doolittlegeorge
doolittlegeorge's picture

fyi "it's my job after said rope has been lubricated as advised above to tell you to START CLIMBING."

sarcasm on

Mon, 10/11/2010 - 19:16 | 642024 Bartanist
Bartanist's picture

Yes, so why exactly was Goldman buying all of the grain that they could regardless of price and using their money created out of thin air to bid the grains and other commodities to the moon.

Studies are now showing that 50,000 people around the world are now dying each day from starvation each day instead of the 30,000 before Goldman used the Fed free money and their own money created out of thin air to bid up grains.

Can you try Goldman in some REAL court of law for murdering 20,000 people each day?

 

 

Mon, 10/11/2010 - 20:27 | 642125 doolittlegeorge
doolittlegeorge's picture

because the government you elect wants this to happen.  it ain't like i'm biddin' it up.  so "keep on keepin' on" veteran fuckers cause now you die.

Mon, 10/11/2010 - 17:22 | 641767 WALLST8MY8BALL
WALLST8MY8BALL's picture

IN YOUR FACE LUXEMBOURG!

Mon, 10/11/2010 - 17:26 | 641784 Rodent Freikorps
Mon, 10/11/2010 - 17:33 | 641806 Common_Cents22
Common_Cents22's picture

This is what happens when the government safety net gets used as a hammock.

Mon, 10/11/2010 - 17:34 | 641808 anvILL
anvILL's picture

I wonder where the US will come in if the median was taken.

Mon, 10/11/2010 - 17:38 | 641824 huggy_in_london
huggy_in_london's picture

norway, australia, singapore.... these moves on this table are all ccy related (ie wealth expressed in USD now higher) ... big deal, we all know the USD is weak.  

Mon, 10/11/2010 - 17:48 | 641842 LadyH
LadyH's picture

France.  Home of the wealth tax.  Maybe the rich would do better if they shared a bit more...

 

 

 

 

Mon, 10/11/2010 - 17:56 | 641861 dcb
dcb's picture

you need numbers for mean, median and mode. My guess is that because of income distribution those numbers make the us look better than it really is.

Mon, 10/11/2010 - 18:11 | 641891 RobotTrader
RobotTrader's picture

Yep, the U.S. might be getting poorer.

However, the richer are getting richer.  At least in Los Angeles:

-  Virtually every REO or foreclosure auction at the Norwalk courthouse is swamped with hordes of "institutional RE flippers" with cashier's check in hand, desperate to grab a few houses to fix up.

-  Never before have I seen so many supercars in Manhattan Beach, Newport Beach, Malibu, etc.  Seems like there is a footrace among the wealthy as to who can have the "baddest" car.  Even the low level Hispanics are spending more money than ever on  their "rides", the retro-mod 1960's car market is bigger than ever.   Good luck trying to find a early model Chevy Impala.  Nearly impossible.

- Just take a look at JWN, COH, TIF, etc.  No need to explain that.

- The profits being made on Wall St. these days is getting extreme again.  Just look at the fantastic gains made in the last 6 months for those who were long "risk".  I never predicted such a huge rebound so fast.

Mon, 10/11/2010 - 18:17 | 641903 The Rock
The Rock's picture

...while idiots like me have been short this market for over a year now.  Nobody told me the Hindenburg Omen would immediately be followed by the Shortenburnen Omen!  Thanks ZH.  I'm not margined so I'm not being squeezed, but of course watching all this horseshit is starting to get to me.  And I live in the LA area too, and it seems there are a lot of fuckers who haven't tasted reality yet. 

Mon, 10/11/2010 - 21:01 | 642179 Bringin It
Bringin It's picture

Rocky - I appreciate your icon/avitar.

Mon, 10/11/2010 - 23:11 | 642395 The Rock
The Rock's picture

Thx. I hope everyone recognizes WTC 7.

Mon, 10/11/2010 - 21:05 | 642186 Bringin It
Bringin It's picture

A while ago, I decided the solution to the fundimentals-say-short / Bernarke-says-buy problem was to buy miners.  It works for the time being.

Mon, 10/11/2010 - 18:11 | 641893 The Rock
The Rock's picture

once the wealthiest decide they have had it here and move away

Why would they move away?  The "gettin' is good" for them!

Mon, 10/11/2010 - 18:15 | 641898 blindman
Mon, 10/11/2010 - 18:28 | 641929 anony
anony's picture

Those numbers are absolutely meaningless.

Anyone who compares the United States with Sweden, France and Switzerland for ANYTHING is either ignorant or pushing some kind of agenda.

Why would ZH do something that stupid?

Mon, 10/11/2010 - 18:51 | 641968 Spastica Rex
Spastica Rex's picture

>> DERP !<<

Mon, 10/11/2010 - 18:30 | 641931 liberal sodomy
liberal sodomy's picture

A country with blacks and jews is destined to implode.

Mon, 10/11/2010 - 18:53 | 641972 liberal sodomy
liberal sodomy's picture

Going the same way as maritime Portugal for the same reasons.

Mon, 10/11/2010 - 20:16 | 642089 Bob
Bob's picture

It's a shame you reserve such sermons for the internet--I really think you need to take it to the streets where you would get the attention you really deserve.  Just imagine the difference you could make in the real world!

Show the real strength of your convictions and concern for your Country . . . without cover of anonymity. 

I think the blacks and jews would welcome you more than you might imagine. 

Mon, 10/11/2010 - 20:27 | 642126 liberal sodomy
liberal sodomy's picture

My feelings are not a big secret to anyone.  More and more people are seeing things my way.

Mon, 10/11/2010 - 20:35 | 642137 Bob
Bob's picture

That must be very encouraging.  Congratulations.  Do you or your friend share those views with any black people? 

You know what I'm saying.  You wouldn't last a second.  Even with your imaginary friend. 

Mon, 10/11/2010 - 20:40 | 642142 liberal sodomy
liberal sodomy's picture

I try to avoid black people as much as possible.  And you live in Newark, I assume?  Or haifa?  http://www.ynetnews.com/articles/0,7340,L-3967277,00.html

Mon, 10/11/2010 - 20:46 | 642154 Bob
Bob's picture

Of course you avoid them as much as possible--such ignorance couldn't be maintained if you trafficked in reality. 

Not to mention your absurdly grandiose notions of your courage. 

Sheeeit

I'm done wit cha.  Return to your fantasy world. 

Mon, 10/11/2010 - 21:05 | 642187 liberal sodomy
liberal sodomy's picture

and you to your rebbi's bumpy pickle.

Do NOT follow this link or you will be banned from the site!