Comment by csomar
15 days ago
> The median person in the poorest US state is richer than the median person in the UK, for example.
This is due to the garbage GDP numbers. Based on these, the quality of life in the Mississippi is better than in Japan. Not a single chance. The US numbers are highly inflated by the financial sector and real estate. It'll take a financial crisis and dethroning of US dollar to show how truly poor these places are.
There are multiple reasons that Japan is better than Mississippi, but "Japan is actually materially wealthier" is not one of them.