Countries with average wealth per adult.

The “socialists” are gaining individual wealth at a much faster rate than the “capitalists”. Wow!

But this average wealth number is only the first on a list of 24 disturbing factors for Americans posted by Michael Snyder at Daily Markets.

#1 Ten years ago, the United States was ranked number one in average wealth per adult. In 2010, the United States has fallen to seventh.

#2 The United States once had the highest proportion of young adults with post-secondary degrees in the world. Today, the U.S. has fallen to 12th.

#3 In the 2009 “prosperity index” published by the Legatum Institute, the United States was ranked as just the ninth most prosperous country in the world. That was down five places from 2008.

#4 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.

#5 The economy of India is projected to become larger than the U.S. economy by the year 2050.

#6 One prominent economist now says that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

#7 According to a new study conducted by Thompson Reuters, China could become the global leader in patent filings by next year.

#8 The United States has lost approximately 42,400 factories since 2001. Approximately 75 percent of those factories employed at least 500 workers while they were still in operation.

#9 The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000.

#10 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.....

and so on...

Comparison of Income Tax rates per county

http://static.seekingalpha.com/uploads/2010/10/20/98115-128754898486328-John-Lounsbury_origin.png

Well we have some European countries who didn't join the Euro. Australia who benefited from Chinese purchase of raw materials. Seems like a list of countries who benefit from the United States dollar going down. Surprised Japan wasn't on the list..

#5 - once the indian workers start asking significantly more then they are earning now, us companies will stop outsourcing and bring the jobs right back. predicting 2040/2050/etc is like saying the world will get flooded by then as well. too many variables to consider.

2050 is a long time in the future. a great many things can happen before then. the same sorts of people predicted back in 1970 that the USSR would overtake the U.S. I wouldn't dismiss India & China, but to assume the trajectory is in place for the next 40 years assumes a chrystal ball more accurate than Bernanke's.. No wait a pair of dice would be more accurate than Bernanke's predictions.