> But the generation of politicians that are being rebuked by the voters who gave Trump power were outdone by literal communists when it comes to creating wealth.
The US has created more wealth over the past 10 or 20 years than China has.
US households have added roughly $72 trillion in net wealth over just ten years (and that's just counting households; excluding non-profits and corporations). It's the greatest net wealth creation in human history for one nation, surpassing anything China has done in a ten year span.
Read that one more time. $72 trillion. Ten years.
US household wealth is at an extraordinary level at present and holding despite very high interest rates. Meanwhile China's housing market is a disaster and their stock market hasn't net moved in 16 years (it's still stuck where it was in eg 2007 and 2009).
Yeah but the US middle class is doing horribly and isn't getting a share of that $72 trillion. The US median individual wealth figure is now over $100,000. It's higher than either Germany or Sweden. That's the median, in a nation of 335 million people.
China will continue to wilt under Xi and the US and its allies will continue to redirect their capital investment.
Obviously "wealth" went up by trillions of dollars. we flooded the system with said trillions of dollars
But its all junk, fake wealth [1]. We cant even make artillery shells for f^*^'s sake. Interest rates are high, inflation is being tamed by selling the oil reserves and collapsing demand.
[1] actually its not entirely fake. No matter how pathetic a currency is, it's the metric of wealth. When you pour printed banknotes onto a favored constituent said constituent gets proportionally more money than the rest of society.
> The US median individual wealth figure is now over $100,000. It's higher than either Germany or Sweden
To be fair you did pick some of the poorest "rich" West European countries. A median French person is about 25% richer than an America, a Briton by 40% and a Belgian by about 240%.
Of course all of those wealth metrics come down to home-ownership and inequality. Sweden for instance has one of the highest levels of wealth inequality in the world and even quite a bit higher than the US.
The US has created more wealth over the past 10 or 20 years than China has.
US households have added roughly $72 trillion in net wealth over just ten years (and that's just counting households; excluding non-profits and corporations). It's the greatest net wealth creation in human history for one nation, surpassing anything China has done in a ten year span.
Read that one more time. $72 trillion. Ten years.
US household wealth is at an extraordinary level at present and holding despite very high interest rates. Meanwhile China's housing market is a disaster and their stock market hasn't net moved in 16 years (it's still stuck where it was in eg 2007 and 2009).
Yeah but the US middle class is doing horribly and isn't getting a share of that $72 trillion. The US median individual wealth figure is now over $100,000. It's higher than either Germany or Sweden. That's the median, in a nation of 335 million people.
China will continue to wilt under Xi and the US and its allies will continue to redirect their capital investment.