Today I saw a graphic from Kayla Zhu, which shows the top 10 countries by average and median wealth.
It’s well worth a look. Here it is.
Canada makes the list on both sides. Canadians are number ten in both average and median wealth. The difference between average and median wealth astonishes me. In Canada, average wealth is $375K but median wealth is just $142K. That’s a ratio of about 2.5 to 1. I wondered about the inequality in Canada, as Denmark shows $449K and $194K, significantly closer to 2:1. Australia does reach a disparity of just 2:1.
But the situation in the US situation is far worse, their median wealth doesn’t even make the chart, despite being 4th with avarage wealth of $565K, well-ahead of Canada.
The US economy has basically become oligarchical, with a small coterie of well-heeled multi-millionaires and billionaires riding rough shod over everyone else.