Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Yes, but that's precisely what I mean. If the dollar drops, everything else goes up in both exchange rate terms and PPP terms. Which means that all other things being equal, 1 PPP$ doesn't buy as much today as it did ten years ago, right? So measuring "middle class" by PPP$ rather than by a basket of goods makes more people richer in your statistics without making them able to buy more stuff, right?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jul 16th, 2008 at 04:57:30 PM EST
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