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forest444

(5,902 posts)

3. It's good news; but as we all know it also reinforces popular confusion with 'average' and 'median'.

Thu Jun 9, 2016, 03:54 PM

Jun 2016

The U.S. is indeed still number one by far in terms of number of millionaire adults (14 million; compared to 2.5 million for the runner-up, France); but the median U.S. adult is now 27th in terms of net worth.

The number one cause for this lag (though certainly not the only one): astronomical health care costs.

Median net worth per adult (US$ 000), from the 2014 Credit Suisse Global Wealth Report:

Australia________225
Belgium_________173
France__________141
United Kingdom__131
Japan___________113
Singapore_______109
Switzerland______107
Canada__________99
Taiwan__________65
Germany________54
United States____53
Chile___________17
China___________7
Brazil___________5
South Africa_____4
World__________4
Russia__________2
Indonesia_______2
India___________1

http://s3.documentcloud.org/documents/1312773/credit-suisse-global-wealth-report-2014-1.pdf

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Household Worth in U.S. Rose by $837.4 Billion in First Quarter [View all] Purveyor Jun 2016 OP

And Bill Gates walked into a bar, so everyone in there was, on average, an instant billionaire. jtuck004 Jun 2016 #1

Yep, that graph says almost nothing accept that more wealth was created, which is no surprise newthinking Jun 2016 #2

Bingo. They think we're stupid and don't know it's only the rich who made out. nt valerief Jun 2016 #6

It's good news; but as we all know it also reinforces popular confusion with 'average' and 'median'. forest444 Jun 2016 #3

Statistics wasn't my best course elljay Jun 2016 #4

For anyone who wants actual data on distribution whatthehey Jun 2016 #5