Eurozone Inflation

HAMISH_MCTAVISH

grizzly1911 wrote: »

Gini Coefficient.

You do realise that's not a measure of wealth?

But rather a measure of inequality of distribution of that wealth.

So while that certainly helps to explain why german median wealth is so low by European standards, it's still higher than Africa.

Graham_Devon

Only on this forum could someone seriously be trying to argue that the Greeks are better off than the Germans.

purch

Graham_Devon wrote: »

Only on this forum could someone seriously be trying to argue that the Greeks are better off than the Germans.

You should have learned by now never to take anything seriously on this forum.

HAMISH_MCTAVISH

Graham_Devon wrote: »

Only on this forum could someone seriously be trying to argue that the Greeks are better off than the Germans.

I don't think anyone is arguing that.

Just that the average Greek household is wealthier than the average German one.

Which is true.

Of course both countries have major problems....

German economic prosperity and the health of it's national finances are an illusion, based on impoverishing it's citizens and taking advantage of it's neighbours through a rigged exchange rate.

Greek household wealth is equally illusory, as it's the opposite side of the same coin.

But the UK is in a significantly better place than both. So we shouldn't be emulating the policies of either.

the_flying_pig

HAMISH_MCTAVISH wrote: »

I don't think anyone is arguing that.

Just that the average Greek household is wealthier than the average German one.

Which is true.

Of course both countries have major problems....

German economic prosperity and the health of it's national finances are an illusion, based on impoverishing it's citizens and taking advantage of it's neighbours through a rigged exchange rate.

Greek household wealth is equally illusory, as it's the opposite side of the same coin.

But the UK is in a significantly better place than both. So we shouldn't be emulating the policies of either.

meaningless rubbish.

germany, compared to greece, has:

1 - vastly higher average income, almost double... even though it's more unequal the median german earns shedloads more than the median greek;

2 - far better education at all levels;

3 - incomparably better infrastructure of all types;

4 - totally incomparable standard of drinking water;

5 - much better, more open, politics, with consequently much higher voter participation... loads less corruption throughout the public and private sectors;

6 - incomparably lower unemployment.

i won't go on.

it's no doubt true that greece has higher home ownership, but the significance of this is dubious [e.g. low home ownership goes a fair way to insulating an economy against credit booms & busts] anyone seriously arguing that greek material living standards are even nearly as good as german ones - and after all must be what we're talking about - would be in a minority of one.

ILW

Think the problem may be that some seem to see wealth as the be all and end all, whereas it is entirely possible to be technically wealthy but have a poverty stricken standard of living. This particularly applies when virtually all this wealth is just equity in the house you live in.

grizzly1911

HAMISH_MCTAVISH wrote: »

You do realise that's not a measure of wealth?

But rather a measure of inequality of distribution of that wealth.

So while that certainly helps to explain why german median wealth is so low by European standards, it's still higher than Africa.

Yep.

Just wondered why it figured in your argument.

grizzly1911

the_flying_pig wrote: »

meaningless rubbish.

germany, compared to greece, has:

1 - vastly higher average income, almost double... even though it's more unequal the median german earns shedloads more than the median greek;

2 - far better education at all levels;

3 - incomparably better infrastructure of all types;

4 - totally incomparable standard of drinking water;

5 - much better, more open, politics, with consequently much higher voter participation... loads less corruption throughout the public and private sectors;

6 - incomparably lower unemployment.

i won't go on.

it's no doubt true that greece has higher home ownership, but the significance of this is dubious [e.g. low home ownership goes a fair way to insulating an economy against credit booms & busts] anyone seriously arguing that greek material living standards are even nearly as good as greek ones - and after all must be what we're talking about - would be in a minority of one.

Probably pay more in tax than the Greeks too.