I tend to say that there are only three ways to be successful: be faster than others, be better than others, or be different. To which some smart people have replied that there is a fourth way: cheat. Obviously, you should not cheat, and I don’t condone cheating in any context. But in financial markets there is a grey zone that some people like to use and abuse: rumours.
Hey thanks for such a nice read. Had a query as an Indian:
We normally have a perception that social safety net of any person is much better in United States than in developing countries like India but I am curious to know compared to which countries does the United States has weaker social safety net?
Would be really grateful if you can help me in understanding the answer to the above question and any particular reading which would help me change from being under perception to being well informed based on stats?
The US has one of the weakest social safety nets amongst industrialised countries. Literally, every European country has a far better social safety net than the US. The OECD provides stats of how much countries spend on their social safety net: https://data.oecd.org/socialexp/social-spending.htm#indicator-chart
In every category except pension benefits, the US is last or close to last. And in pension spending, it is below average. And all of that doesn't even include the fact that healthcare is much more expensive in the US than anywhere else and health insurance coverage is much worse than in any other developed country. In short, the US is the worst place to get into any kind of trouble.
Hey thanks for such a nice read. Had a query as an Indian:
We normally have a perception that social safety net of any person is much better in United States than in developing countries like India but I am curious to know compared to which countries does the United States has weaker social safety net?
Would be really grateful if you can help me in understanding the answer to the above question and any particular reading which would help me change from being under perception to being well informed based on stats?
Thanks in advance.
The US has one of the weakest social safety nets amongst industrialised countries. Literally, every European country has a far better social safety net than the US. The OECD provides stats of how much countries spend on their social safety net: https://data.oecd.org/socialexp/social-spending.htm#indicator-chart
In every category except pension benefits, the US is last or close to last. And in pension spending, it is below average. And all of that doesn't even include the fact that healthcare is much more expensive in the US than anywhere else and health insurance coverage is much worse than in any other developed country. In short, the US is the worst place to get into any kind of trouble.
Thanks for such a detailed reply. Was fun understanding the data at the link shared. Learned something new.