Americans are NOT wealthy: The truth about the US economy

Americans are NOT wealthy: The truth about the US economy

Author: Ben Norton July 11, 2026 Duration: 38:27
Many Western economists and media outlets claim that Americans are wealthier than Europeans, but this is not true; it's based on a misunderstanding of the difference between average wealth and median wealth. Ben Norton explains how the extreme inequality in the US make its average wealth misleadingly look high, and why GDP per capita is not a good measurement. He debunks the myth of "Europoors", which is often spread by Donald Trump supporters. VIDEO: https://www.youtube.com/watch?v=kzFUd8uj7pA Topics 0:00 The myth that Americans are wealthy 1:15 Average wealth vs median wealth 3:50 Data on US median wealth 6:42 Wealth inequality (Gini coefficient) 9:31 Poverty and homelessness 10:19 USA vs Europe 12:02 Wealth concentration of US elites 13:28 Distribution of growth in income 15:01 GDP per capita is misleading 21:18 US GDP by sector 23:13 Imputed rent and GDP 25:05 Life expectancy, mortality, etc. 27:10 US healthcare system 28:40 US health system vs OECD 32:58 Ridiculous "Europoor" myth 33:32 Trump cuts taxes on rich 34:27 Trump family corruption 36:20 Insider trading 36:56 Myth of American dream 38:18 Outro

Trying to make sense of international headlines often feels like seeing only the ripples on the water's surface, without understanding the powerful currents moving beneath. Geopolitical Economy Report, hosted by journalist Ben Norton, dives into those deeper forces. This isn't just a recap of the day's events; it's a dedicated exploration of how economic systems, historical context, and raw power politics fundamentally shape global conflicts and alliances. Each episode builds on the work of the independent news outlet of the same name, translating its original journalism and analysis into a compelling audio format. You'll hear detailed discussions that connect financial policies to social movements, or trace the historical roots of a modern trade war, always with an eye toward understanding the larger, changing structure of the world. For anyone tired of superficial news cycles and seeking a more substantive, connected perspective on why nations and institutions act the way they do, this podcast offers a crucial and clarifying lens. Tune in for a regular dose of context that the mainstream frequently overlooks.
Author: Language: English Episodes: 50

Geopolitical Economy Report
Podcast Episodes
Why countries are dropping the dollar - and buying gold [not-audio_url] [/not-audio_url]

Duration: 20:56
Gold has officially overtaken Treasury securities (US government debt) as the top asset held by global central banks, according to a report by the European Central Bank (ECB). Ben Norton explains how dedollarization is c…
To fight China, USA literally plans to colonize its ally [not-audio_url] [/not-audio_url]

Duration: 28:41
The US government is desperate to create a new supply chain that cuts out China, through its Pax Silica initiative. To do so, the Trump administration plans to colonize the territory of the Philippines, a supposed "ally"…
War hawks admit Iran defeated USA - and it will change the world [not-audio_url] [/not-audio_url]

Duration: 24:16
It has become so widely accepted that the US lost the war with Iran that now even American neoconservative hawks admit it. Ben Norton explains why major neocons like Robert Kagan and Bill Kristol have turned against the…
Trump's China trip was a failure. This is why [not-audio_url] [/not-audio_url]

Duration: 22:48
Donald Trump said his visit to China was a success, but he failed to pressure Beijing to make any significant concessions. Ben Norton fact-checks the claims of the White House, showing how Washington's trade war backfire…
This is the real reason for Trump's visit to China [not-audio_url] [/not-audio_url]

Duration: 31:21
Donald Trump took a trip to China to meet President Xi Jinping. He was joined by the CEOs of a dozen top US corporations, including billionaires Elon Musk, Jensen Huang of Nvidia, Tim Cook of Apple, Larry Fink of BlackRo…