Does the US still want to become like Europe?

http://www.aei.org/publication/us-gdp-per-capita-by-state-vs-european-countries-and-japan-korea-mexico-and-china-and-some-lessons-for-the-donald/

The table above compares the GDP per capita of America’s 50 states in 2014 (BEA data here) to the GDP per capita of selected countries in Europe and Asia on a Purchasing Power Parity (PPP) basis, based on data from the World Bank. As explained by the World Bank:


PPP GDP is Gross Domestic Product (GDP) converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States.

Adjusting for PPP allows us to make a more accurate “apples to apples” comparison of GDP per capita among countries around the world by adjusting for the differences in prices in each country. For example, the UK’s unadjusted GDP per capita was $45,729 in 2014, but because prices there are higher on average than in the US (for food, clothing, energy, transportation, etc.), the PPP adjustment lowers per capita GDP in the UK to below $40,000. On the hand, consumer prices in South Korea are generally lower than in the US, so that increases its GDP per capita from below $28,000 on an unadjusted basis to above $34,000 on a PPP basis.

As the chart demonstrates, most European countries (including Germany, Sweden, Denmark and Belgium) if they joined the US, would rank among the poorest one-third of US states on a per-capita GDP basis, and the UK, France, Japan and New Zealand would all rank among America’s very poorest states, below No. 47 West Virginia, and not too far above No. 50 Mississippi. Countries like Italy, S. Korea, Spain, Portugal and Greece would each rank below Mississippi as the poorest states in the country.

The ranking of US states by per GDP per person in 2014 demonstrates the significant economic contribution that mining, and oil and gas extraction make to a state’s economy. All three of America’s wealthiest states in 2014 by GDP per person — North Dakota ($72,719), Alaska ($71,671), and Wyoming ($69,993), all more than 28% above the US average per capita GDP of $54,629 — benefited greatly from the development of their natural energy resources including coal, oil and gas.

Bottom Line: When we hear from The Donald about how he wants to “make America great again,” because “we don’t win any more,” and about how “we don’t beat China or Japan in trade” and how those countries “kill us” in trade. When The Donald tells us that Mexico is “beating us economically” and “laughing at us,” maybe we should remind him that Mexico and China, as US states, would both be far below our poorest state — Mississippi — by 51% and 62% respectively for GDP per capita; and Japan would be barely above our poorest state — Mississippi. Using GDP per capita as a measure of both economic output per person and of a country’s standard of living, America is winning quite handsomely. And one of the factors that contributes significantly to our standard of living, which is among the highest in the world and the highest in history, is the availability of cheap imported goods from countries like Mexico, Japan and China.

The chart above shows us that far from laughing at us, the average citizen of Mexico, China, Japan, the UK and France is probably quite envious of life in America, especially the citizens of Mexico and China, whose per capita GDP, adjusted for prices, is less than 50% of the per capita GDP of America’s poorest state – Mississippi. Further, the average US state is more than 3 times more prosperous than either Mexico or China, and America’s highest-income state — North Dakota — has a per capita GDP more than 5 times greater than China’s per capita GDP, and more than 4 times greater than Mexico’s. Sure seems like the economic data on GDP per capita suggest that America is winning economically, and that the only laughing that should be going on is the laughing we should be hearing about The Donald’s infantile, primitive, ill-informed and outdated views on international trade and America’s position in the world economy.

Originally posted by whodey
http://www.aei.org/publication/us-gdp-per-capita-by-state-vs-european-countries-and-japan-korea-mexico-and-china-and-some-lessons-for-the-donald/

The table above compares the GDP per capita of America’s 50 states in 2014 (BEA data here) to the GDP per capita of selected countries in Europe and Asia on a Purchasing Power Parity (PPP) basis, based on data fr ...[text shortened]... -informed and outdated views on international trade and America’s position in the world economy.

You do realize that it is only a matter of time before a Bernie Sanders gets in there and makes the US Europe.

At least people should now what to expect, which is a sharp decline in standard of living, among other things.

The only ones that want to become more like Europe are the governing elites, those who believe you can't live without health insurance and those who believe that slow economic growth is the new normal.

oops, wrong thread.

Originally posted by whodey
http://www.aei.org/publication/us-gdp-per-capita-by-state-vs-european-countries-and-japan-korea-mexico-and-china-and-some-lessons-for-the-donald/

The table above compares the GDP per capita of America’s 50 states in 2014 (BEA data here) to the GDP per capita of selected countries in Europe and Asia on a Purchasing Power Parity (PPP) basis, based on data fr ...[text shortened]... -informed and outdated views on international trade and America’s position in the world economy.

Originally posted by whodey
Does the US still want to become like Europe?

The biggest issue the US has right now is that although it says 'GDP per capita' it is not actually GDP produced by and going to each individual. Almost all the benefits of the GDP goes to only 0.1% of the population.

You're not European until you've licked the hairy armpits of an unwashed French lesbian.

And you yanks aren't man enough for the job.

The question isn't do you want to be European, but do we want people like you screwing up our gene-pool?
And the answer is: no.

Go back to your trailer parks, raping your wives and having kids with your children.
Please, PLEASE, stay well away from us!

Eat yer burgers and slurp yer French fries... Leave us the guinea-fowl in truffle sauce and the schitzels covered in garlic.

Sweden and Denmark are wealthier than the wealthiest US states - measuring how many Hummers the richest individuals can buy just doesn't turn out to be an awfully good measure for the standard of living.

Whose getting the money?

In constant price, 2011 American median household income is
1.13% lower than what it was in 1989. This corresponds to a 0.05%
annual decrease over a 22-year period. In the mean time, GDP
per capita has increased by 33.8% or 1.33% annually

https://en.wikipedia.org/wiki/Median_household_income

Originally posted by shavixmir
You're not European until you've licked the hairy armpits of an unwashed French lesbian.

And you yanks aren't man enough for the job.

The question isn't do you want to be European, but do we want people like you screwing up our gene-pool?
And the answer is: no.

Go back to your trailer parks, raping your wives and having kids with your children.
...[text shortened]... r French fries... Leave us the guinea-fowl in truffle sauce and the schitzels covered in garlic.

Originally posted by SERGEANTPMAIN
It appears you are a 100% European, Cool breeze.

I hope you stay your ass in Europe also.

Originally posted by shavixmir
What a come-back.
You really are the lamest thing floating about this site, aren't you!

Originally posted by twhitehead
I suppose North Dakota is at the top of the list because they have lots of oil and almost no people.