How numbers can be deceiving
I was listening to a podcast yesterday evening where it was said by Anthony Pompliano that millions of people around the world live on less than $2 per day.
I would like to point out something here.
Just because someone is living on less than $2/day does not mean that their standard of living is any less than the person living in a first world country.
The fact that they are living on less than $2/day merely implies that the money they are using is being exchanged at that rate in the international foreign exchange markets.
This is the rate that a currency trader sitting in an office somewhere in the city of London or New York City has determined the currency can be traded at.
Many of these traders have never visited the country whose currency they are trading and really have no clue when it comes to evaluating the standard of living in a country.
During my time living in Lao PDR, I discovered a country rich in culture and history.
The pace of life in Laos is much slower than back home in the west - Ireland in my case.
And with regard to living on $2/day, everything costs less in Lao PDR. A meal in a restaurant costs $1 - $1.50.
People are friendlier and have more time to talk.
They are not running and racing all day in an effort to get things done.
The Laos diet and lifestyle is much healthier than the west.
People are not addicted to junk food like they are in western countries.
Junk food like sugary sweets and drinks simply are not available in these places.
As a result people are happier and healthier.
So, Mr. Pompliano, perhaps you should reassess your opinion of the people around the world who live on less than $2/day.