As I hear the outcry raised by the Occupy Wall Street folks, I look at economic stories around the world in an interesting new light. Like the fact that the world's biggest market for Lamborghinis and Rolls Royces is now China.
When did that happen? Last I heard Chinese folk were dying in tennis shoe factories. The problem is they're still doing so—and dying in iPad factories as well. But the new Chinese overlords are richer than ever and are snapping up more luxury cars than anywhere in the world. Interesting that they buy cars with no Chinese parts.
Guess that additional blood on their hands would make it tough to steer.
In another interesting article, I read how a recent survey found that immigrants founded nearly half of the top start-ups in the U.S. Of the 50 top venture-backed companies today, 23 have at least one immigrant founder. Not only that, 37 of the 50 companies employ an immigrant in a key management position.
Certainly shows the power immigrants bring to our culture. Despite the Chinese Lamborghini glut, we're still prized by foreigners as the land of opportunity. Maybe it's that desire to actually make it to the top 1%. Enjoy the land of milk and honey.
We all know 1% milk is better for you.
Which brings me to the last factoid. Compared to worldwide, a lot of us are pretty much bathing in that milk. Occupy protestors as well. To be counted in the whole world's top 1%, an individual has to earn just $34,000 a year.
The true middle class person in the world at large makes $1225 a year. Certainly not in Lamborghini territory.
But about the price of one of those fancy made-in-China tents you can occupy when you perch in a park.
America, ya gotta love it.
Monday, January 30, 2012
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