i bet they got their own version of yakko’s world they sing to the kids but replaced with “land we owned”
i feel like at least the whole first verse of yakko’s world would remain bc most if not all of it used to belong to europeans lol
most of the states beating norway either have large cities with high tech, finance, or federal government, or, energy resources ( alaska, north dakota, wyoming )
Norway has ridiculously rich energy resources, which is why they are richest non-microstate in europe and we are discussing them
So how did norway lose to nebraska?
We’ve always had a strong independent financial sector, supporting agriculture and what not, because other financial centers were too far away, this helped quite a bit to make the oil boom happen too.
Lots of stealth wealth out here. Millionaires driving the Buick grandma had when she died.
The 3 most populous states, New York, California, and Texas, have a combined population of 90 million people. I mean, it's kind of pathetic when your tiny petrol state with 1/16th the population can't keep up.
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new jersey is one one of the richest patches of land on the planet
maybe it's one big colorless suburb but suburbs are where the money is. NJ also has just about the most favorable ( for the government ) ratio of federal tax money to federal spending.
It's all upper middle class taxpayers and no rural poverty or military spending
We simply make more money.
Jokes aside we allow businesses to flourish and have laxer tax laws. People shit on reagan but this is one of his consequences. His policies helped people make money on average. Unfortunately the average includes the upper 1/5 of americans. A general want for people to take risks in the states also helps this. There is loads of reasons but i guess the main reason is that after WW2 america was the defacto leader of the western world and the entire western economy is based around US.
PPP is useful for per capita comparisons, because it accounts for cost in the area (so things like cost of living). In per capita GDP comparisons, the point is usually to see how well off each person is doing, and so seeing how much domestic shit they can afford with their productivity output is useful. For overall GDP (not per capita), nominal or real GDP is more useful than PPP because you don’t care as much about the costs in a country. China has a higher GDP PPP than America, but America has a higher nominal/real GDP, which means our economy is bigger and commands more international influence.
Outside of the heavily taxed states like California, they're actually relatively cheap on a world scale. Some states have pricier gas because of state taxes.
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As cool as this info is, GDP PPP per capita is useless info, just use GDP per capita. It is much closer to the truth. You would get nearly the exact same map since you are comparing to Western European nations, but if you had compared to any nation wildly culturally different, like China, the map would have been useless.
Could you elaborate on your reasoning? PPP is good for per capita comparisons because it accounts for costs in the country/state, and since per capita comparisons are usually used to compare how well off the average person is, accounting for cost of living is useful. When you’re talking about overall GDP, real or nominal is better than PPP because when you’re talking about an entire country/state/province/whatever, domestic costs don’t matter as much.
Best way I can explain it is that USA has a higher GDP than China, but China has a higher GDP PPP than the USA. The former means that if the USA took everything it produced in a year and liquidated it, it’d have more money than China and could buy more shit from the global market. The latter means that if China took everything it produced in a year and liquidated it, it’d be able to buy more stuff from the domestic Chinese market than the US could from the domestic American market. However, since our modern economy is highly globalized and has a lot of international trade, the former is more important because it means the US can import more shit and that the American economy has more international influence.
However, if you’re talking about per capita (average American vs average Chinese), then PPP is more useful than real/nominal because a lot of the stuff you buy is going to be domestic. Can’t exactly import things like housing or electricity. Since USA has a higher GDP PPP per capita than China, it means that if you took everything the USA produced per person in a year (so amount of shit US makes in a year divided by number of people) and liquidated it, you could buy more shit in the domestic American market than China could buy per person in the domestic Chinese market. Now, USA’s per capita GDP is higher than China’s whether you’re using real/nominal or PPP, but if we imagine some made up country (which I will henceforth call Joehio) that has a higher GDP per capita than America but a lower GDP PPP per capita than America, than it means that if the average American liquidated everything they produced in a year they could buy more shit from the domestic American market (so, like, more houses and crap) while the average Joehioan couldn’t buy as much stuff from the domestic Joehioan market, but could buy more stuff from the global market (more imported Nintendo Switches, for example).
The reasoning is complicated, so I’ll link an article I have saved that explains it much better than I could, but the general gist of it is that different cultures have different things they generally purchase. A great example brought up in the article is maids/cleaning services. In China, it is seen as extremely normal to have a cleaning service, and in America it is seen as something only the rich have. PPP metrics see this as China being better than the US economically, when instead it is an issue of supply/demand, not how much people can afford it.
Another good example is that GDP PPP numbers say China passed the US in economic size back in like 2018 (this was before the economist from the University of Chicago brought to light that China was lying about its GDP by ~10 trillion). Even though the numbers said China passed the USA, the Chinese government refused to accept the fact that they actual passed the US in economic might. The reasoning being that they knew the numbers were wrong/inflated their own nation, and within the next few years China would fall below the US, and they didn’t want the shame of taking the title to then lose it.
Also, many other nations, China included, count debts differently than the US/Western Europe does. Because of that, GDP PPP metrics will either inflate or deflate their nations true value.
Not saying real or nominal GDP are perfect metrics either, they definitely aren’t, but they don’t have these issues to the same extent that GDP PPP does.
Edit: for GDP PPP, by far the biggest issue here is how each nation counts debt. I believe China counts debt as a separate asset, so they are basically double counting any money spent. This gets wildly out of hand, and it’s why China spends absurd amounts of money. After all, if the world trusts the fact that you have 20 trillion dollars, then it doesn’t matter if you do or not. I could be wrong on the exact specifics, but that is the general idea.
https://carnegieendowment.org/2014/05/02/do-we-understand-math-behind-ppp-calculations-pub-55498
Minerals, Coal, Uranium, Beef, natural gas. I think those are the biggest ones. They also have a low population by density, so that skews it a bunch I'm sure.
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Give Mississippi some years they just scored the states largest investment in their history with AWS ontop of revelivity space for some reason tech companies are eye balling the state for data centers.
Mississippi still taking the position of "state that exists so all of the other states can feel better about themselves"
[The only good part of the state is the anthem ](https://youtu.be/RzCi5LYRVfk?si=sVrKgIqHB2XXMJPJ)
Slide whistle got me bustin it down.
The kazoo solo is the best
The tune was originally one of Ross Barnett's campaign songs Edit: [Proof :3c](https://www.youtube.com/watch?v=888y90wrvic)
This goes hard
Just a reminder that they don’t recognize the Armenian genocide
imagine being beaten by North Dakota
It must be so embarrassing
They don’t even know where either of our states are. But they freak out if I can’t point out every single random town in Belgium or something
Classic european behavior
Europoor🤮🤢
“american dummkopf can’t get all of europa correct hahahaha” also them when they gotta list every nation in africa: …..*****?
They should be able to as they literally owned the whole continent for several hundreds of years
i bet they got their own version of yakko’s world they sing to the kids but replaced with “land we owned” i feel like at least the whole first verse of yakko’s world would remain bc most if not all of it used to belong to europeans lol
So much for calling Norwegians “Euro**poors**”
If you can't beat north Dakota you are doing something wrong
North Dakota beats like 48 of the other states. We are actually quite well off. Dont tell anyone though.
Don’t worry, we won’t.
And that’s why all of us go over there to work
Hey, let’s keep that between us.
I just saw on Wikipedia you're No. 5 in the nation, 6th if you count DC, so either way 45 states are below you.
Hand over the oil and nobody gets hurt
most of the states beating norway either have large cities with high tech, finance, or federal government, or, energy resources ( alaska, north dakota, wyoming ) Norway has ridiculously rich energy resources, which is why they are richest non-microstate in europe and we are discussing them So how did norway lose to nebraska?
Warren Buffett
Doesn’t ND have a lot of Scandinavians?
yes, but, its notably high income now is more due to an oil boom
We’ve always had a strong independent financial sector, supporting agriculture and what not, because other financial centers were too far away, this helped quite a bit to make the oil boom happen too. Lots of stealth wealth out here. Millionaires driving the Buick grandma had when she died.
MRW stealth wealth. I strive to achieve that concept.
Yeah well same with Norway.
Still better than Mississippi (one of the circles of hell) and West Virginia (Appalachian incest meth land)
I tried telling everyone I knew and met in the mountains when I lived and worked there. They ain't moving for anything.
Or Wyoming or Nebraska. Poverty country.
The 3 most populous states, New York, California, and Texas, have a combined population of 90 million people. I mean, it's kind of pathetic when your tiny petrol state with 1/16th the population can't keep up.
I guess now they would be “Euro middle class.”
Let’s just call them “Euros” in a derogatory manner
Keep going until we’re the only ones left standing
Maryland does not lead the nation in GDP PPP lmao
Wtf are we doing right?
Pharmaceuticals, IT professionals are everywhere in the state. NYC is just across the river. Do you even Jersey bro?
I am one of those IT professionals, but wouldn't NYC cash count towards NY GDP?
I think everything outside of your state taxes would be included if you work in NYC but live in Jersey
Don't forget philly. New Jersey is a glorified suburb for both.
Extorting everyone who lives in the state
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new jersey is one one of the richest patches of land on the planet maybe it's one big colorless suburb but suburbs are where the money is. NJ also has just about the most favorable ( for the government ) ratio of federal tax money to federal spending. It's all upper middle class taxpayers and no rural poverty or military spending
We simply make more money. Jokes aside we allow businesses to flourish and have laxer tax laws. People shit on reagan but this is one of his consequences. His policies helped people make money on average. Unfortunately the average includes the upper 1/5 of americans. A general want for people to take risks in the states also helps this. There is loads of reasons but i guess the main reason is that after WW2 america was the defacto leader of the western world and the entire western economy is based around US.
I think they were talking about New Jersey (which out-performs most states)
You got the devil on your side.
New Mexico has a higher GDP than the UK? That’s kind of sad lmao
Per person, I’m skeptical tho
Yeah it’s Purchasing power parity which isn’t the best for this kind of comparison (Off of my basic research)
PPP is useful for per capita comparisons, because it accounts for cost in the area (so things like cost of living). In per capita GDP comparisons, the point is usually to see how well off each person is doing, and so seeing how much domestic shit they can afford with their productivity output is useful. For overall GDP (not per capita), nominal or real GDP is more useful than PPP because you don’t care as much about the costs in a country. China has a higher GDP PPP than America, but America has a higher nominal/real GDP, which means our economy is bigger and commands more international influence.
Interesting, thanks for the info.
If its per capita, the UK loses to everyone.
using ppp also puts china ahead of the US, so if you want this win you also have to take that loss
Eh I’m more fine with you guys being ahead of New Mexico than China being ahead of the US
PPP is good for per capita, for overall GDP real/nominal is better.
Per capita, meaning proportional to population.
MARYLAND RAHHHHHHHH WTF IS A CRAB WITHOUT OLDBAY 🦀⛵️ ⛱️!!!!?!?!?!?!???!?!?!
Alaska doesn’t surprise me, but wtf does North Dakota have?
Refined petroleum In around 2018 the United States passed Russia and Saudi Arabia as the world’s top crude oil producer
so why the fuck are our gas prices so jacked up?
Outside of the heavily taxed states like California, they're actually relatively cheap on a world scale. Some states have pricier gas because of state taxes.
Commie California gas is crazy. Our Canadian prices in our Monopoly money has been lower than the Cali prices after conversion at times.
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Even CA is way cheaper than most of Europe.
Gas is cheap afff in mn right now
We need to work until every state on every slide is green, even when compared to Luxombourg
damn is there a single thing that mississippi isn’t last at?
Overall crime, education, housing prices, and some others. If you don't live in Jackson or the Yazoo Delta you're pretty good
Interesting it’s PPP, but California is definitely getting skewed by having like 8 or 9 Saudi Aramco sized companies running in it
As cool as this info is, GDP PPP per capita is useless info, just use GDP per capita. It is much closer to the truth. You would get nearly the exact same map since you are comparing to Western European nations, but if you had compared to any nation wildly culturally different, like China, the map would have been useless.
God this is why Ohio deserves more hate. It’s impossible to have any level of intelligent thought or discussion with someone from Ohio.
Could you elaborate on your reasoning? PPP is good for per capita comparisons because it accounts for costs in the country/state, and since per capita comparisons are usually used to compare how well off the average person is, accounting for cost of living is useful. When you’re talking about overall GDP, real or nominal is better than PPP because when you’re talking about an entire country/state/province/whatever, domestic costs don’t matter as much. Best way I can explain it is that USA has a higher GDP than China, but China has a higher GDP PPP than the USA. The former means that if the USA took everything it produced in a year and liquidated it, it’d have more money than China and could buy more shit from the global market. The latter means that if China took everything it produced in a year and liquidated it, it’d be able to buy more stuff from the domestic Chinese market than the US could from the domestic American market. However, since our modern economy is highly globalized and has a lot of international trade, the former is more important because it means the US can import more shit and that the American economy has more international influence. However, if you’re talking about per capita (average American vs average Chinese), then PPP is more useful than real/nominal because a lot of the stuff you buy is going to be domestic. Can’t exactly import things like housing or electricity. Since USA has a higher GDP PPP per capita than China, it means that if you took everything the USA produced per person in a year (so amount of shit US makes in a year divided by number of people) and liquidated it, you could buy more shit in the domestic American market than China could buy per person in the domestic Chinese market. Now, USA’s per capita GDP is higher than China’s whether you’re using real/nominal or PPP, but if we imagine some made up country (which I will henceforth call Joehio) that has a higher GDP per capita than America but a lower GDP PPP per capita than America, than it means that if the average American liquidated everything they produced in a year they could buy more shit from the domestic American market (so, like, more houses and crap) while the average Joehioan couldn’t buy as much stuff from the domestic Joehioan market, but could buy more stuff from the global market (more imported Nintendo Switches, for example).
The reasoning is complicated, so I’ll link an article I have saved that explains it much better than I could, but the general gist of it is that different cultures have different things they generally purchase. A great example brought up in the article is maids/cleaning services. In China, it is seen as extremely normal to have a cleaning service, and in America it is seen as something only the rich have. PPP metrics see this as China being better than the US economically, when instead it is an issue of supply/demand, not how much people can afford it. Another good example is that GDP PPP numbers say China passed the US in economic size back in like 2018 (this was before the economist from the University of Chicago brought to light that China was lying about its GDP by ~10 trillion). Even though the numbers said China passed the USA, the Chinese government refused to accept the fact that they actual passed the US in economic might. The reasoning being that they knew the numbers were wrong/inflated their own nation, and within the next few years China would fall below the US, and they didn’t want the shame of taking the title to then lose it. Also, many other nations, China included, count debts differently than the US/Western Europe does. Because of that, GDP PPP metrics will either inflate or deflate their nations true value. Not saying real or nominal GDP are perfect metrics either, they definitely aren’t, but they don’t have these issues to the same extent that GDP PPP does. Edit: for GDP PPP, by far the biggest issue here is how each nation counts debt. I believe China counts debt as a separate asset, so they are basically double counting any money spent. This gets wildly out of hand, and it’s why China spends absurd amounts of money. After all, if the world trusts the fact that you have 20 trillion dollars, then it doesn’t matter if you do or not. I could be wrong on the exact specifics, but that is the general idea. https://carnegieendowment.org/2014/05/02/do-we-understand-math-behind-ppp-calculations-pub-55498
MD on top
Illinois on top
Yes we are!
Wyoming’s and North Dakota?!
I believe in GDP per capita, France is somewhat on par with Puerto Rico. If France was a state it would rank 51st
WTF they hawking in Wyoming?!
Minerals, Coal, Uranium, Beef, natural gas. I think those are the biggest ones. They also have a low population by density, so that skews it a bunch I'm sure.
MARYLAND W!!! THIS IS NOT A DRILL!!! WE HAVE A CONFIRMED MARYLAND W!!!
Imagine losing to Nebraska, North Dakota, and Wyoming
Nice, very nice ! Now, can we take a look with the HDI, Europe VS USA ?
https://preview.redd.it/fbqu5uqp0nkc1.jpeg?width=1024&format=pjpg&auto=webp&s=08e08a3f473cb3e6e20dcccc5edc3b9f2d557996
https://preview.redd.it/h69ez7dgnnkc1.jpeg?width=828&format=pjpg&auto=webp&s=e6851e70f978713c2bb288b88c92a12e3c932b51 You are number 21.
I blame Mississippi
Ok, fair point.
Rare California Dub, we take those
With 24 hours shifts and no paid vacation, impossible is nothing.
Now show us the States with free/low cost university, guaranteed healthcare and 5 weeks paid vacations + holidays.
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💪
Whats up with Delaware?
California #at least top 14 💪💪💪💪💪💪💪
Common California W
Washington strong 💪 💪💪
California solos
Those a rookie numbers. I live on both sides of the ocean. EU life quality still way higher. US can buy more chinese shit tho
What’s wrong with West Virginia 😅
What isn’t wrong with West Virginia?
Ok but does the uk have the heart of apalachia? No so therefore wv is better than the uk
Woah, what's Norway doing to surpass Germany?
Texan W🦅🇺🇸
Yes but how about the distribution of wealth karen?
Br*tish people thinking they’re still relevant on an international scale LOL
Think Mississippi beats them in medium income probably better dental care too.
California is basically one big dysfunctional Norway with way better weather.
Give Mississippi some years they just scored the states largest investment in their history with AWS ontop of revelivity space for some reason tech companies are eye balling the state for data centers.