News: Britons 'richer than Americans' (money, property, economy, payments)

[southdown]

Britons 'richer than Americans'
BBC NEWS | Business | Britons 'richer than Americans'

[Ellise]

Probably 'cause they don't have to shell out $1K/month for health insurance.

[callahan12]

Originally Posted by Ellise

Probably 'cause they don't have to shell out $1K/month for health insurance.

Currency value is very much related to wealth, especially with regards to the middle class. Canadians are also approaching parity with US in terms of middle class wealth.

This video might shed some light on the problem. Of course it's an intrinsic ad for RP, but then again all collapsing dollar videos seem to be tied to his campaign.

YouTube - Ron Paul : House of Cards

[nativeDallasite]

Growth in the UK economy (they're usually a couple of years behind the curve) plus the strength of the pound relative to the dollar is almost certainly to blame for this.

Having lived in the UK and having only recently left, I can say without a doubt that my standard of living has improved immensely by coming back to the United States, and I was constantly depressed by the small, cramped accomodations there, the outrageous expense of everything, the low quality in comparison to price, and the jaw-dropping amount of consumer debt...and the lifestyle that that debt buys isn't nearly as good as what it'd buy you here.

Don't be fooled.

[callahan12]

Originally Posted by nativeDallasite

Growth in the UK economy (they're usually a couple of years behind the curve) plus the strength of the pound relative to the dollar is almost certainly to blame for this.

Having lived in the UK and having only recently left, I can say without a doubt that my standard of living has improved immensely by coming back to the United States, and I was constantly depressed by the small, cramped accomodations there, the outrageous expense of everything, the low quality in comparison to price, and the jaw-dropping amount of consumer debt...and the lifestyle that that debt buys isn't nearly as good as what it'd buy you here.

Don't be fooled.

While I do not know the exact living standards of UK citizens, I will maintain that the US standard of living is an illusion, especially for the middle class. YOU see BMWs, big boats, RVs navigating American roads. What I see is the Dad and Mom both working 60+ hour/week just to afford to keep payments (not even own, mind you) on their toys. $900B worth of consumer debt about to explode in our faces when foreigners no longer wish to bear the burden of the American consumer is a good thing?

Same here. Don't be fooled at the sweet gadgets and toys that the average person owns here. Subprime is just the tip of the iceburg.

[Bob The Builder]

Originally Posted by callahan12

While I do not know the exact living standards of UK citizens, I will maintain that the US standard of living is an illusion, especially for the middle class. YOU see BMWs, big boats, RVs navigating American roads. What I see is the Dad and Mom both working 60+ hour/week just to afford to keep payments (not even own, mind you) on their toys. $900B worth of consumer debt about to explode in our faces when foreigners no longer wish to bear the burden of the American consumer is a good thing?

Same here. Don't be fooled at the sweet gadgets and toys that the average person owns here. Subprime is just the tip of the iceburg.

Cal

I read the article this morning. The average UK resident makes a bit more than the average American. Mostly due to currency fluctuation. But in the UK a movie is about 24 bucks. A happy meal is about 9 bucks and Starbucks cappuccino is about 5 bucks. Their property is more inflated than that in the US. When the sub prime problem came to light, Northern Rock in the UK had bank runs. There are of course problems here, Native Dallas was just trying to share her observations.

[baystater]

Recession fears weigh on FTSE - Yahoo! News (broken link)

[southdown]

Originally Posted by Bob The Builder

Cal

I read the article this morning. The average UK resident makes a bit more than the average American. Mostly due to currency fluctuation. But in the UK a movie is about 24 bucks. A happy meal is about 9 bucks and Starbucks cappuccino is about 5 bucks. Their property is more inflated than that in the US. When the sub prime problem came to light, Northern Rock in the UK had bank runs. There are of course problems here, Native Dallas was just trying to share her observations.

Cal was pointing out the American obsession with luxuries - which you further illustrate. Mcdonalds and Starbucks are not the best examples of UK items, as they are US companies.

But as far as home-grown necessitites goes, a loaf of organic bread in the UK is about $1.50!

[desertsun41]

Originally Posted by Ellise

Probably 'cause they don't have to shell out $1K/month for health insurance.

Yea but they have to shell out $2000 a month for gas.

[southdown]

Originally Posted by desertsun41

Yea but they have to shell out $2000 a month for gas.

The price of gas is way higher there, but their cars run at about 3x the average fuel economy of our favoured guzzlers plus the cars are less over-powered, so cost less. And they use diesel more. Road tax is high but the road system is very advanced compared to ours (smaller country + more money spent).

We could go on forever like this..... or we could try and learn from the UK's good stuff and vice versa???