HOW WEALTHY IS THE UNITED STATES

The United States, the world's biggest economy in terms of nominal GDP, ranks 8th in terms of per capita GDP. With the world changing at an unprecedented rate, the world's richest countries might see a massive change in rankings in the coming times. As per projections by IMF for 2021, the United States is leading by $6,033 bn or 1.36 times on an exchange rate basis. The economy of China is Int. $3,982 billion or 1.18x of the US on purchasing power parity basis. According to estimates by World Bank, China's GDP was approx 11% of the US in 1960, but in 2019 it is 67%. The core truth behind this counterargument is that many negative feelings and situations arise from a less-than-ideal fiscal standing. When one's credit score is low, even basic expenses such as renting an apartment, purchasing a home, or just getting a car can be difficult or impossible to finance. Similarly, people on a limited income can find it challenging to keep up with bare essentials such as electricity, water, and even groceries. In short, a lack of money can severely hinder one's ability to afford the fundamental "must-have" things human beings need to get by, let alone luxury items. This presence or lack of money can also impact one's health. Wealthy people can often afford better medical treatment than those with less money, especially in countries without universal health care. Moreover, an unfavorable financial status can be a major source of stress, anxiety, or depression. What about the argument that money cannot buy cherished memories, which are arguably the most precious treasure of all? Absolutely true. Granted, money can buy many things that can help create those memories, such as vacations, tickets to concerts or sporting events, nights out on the town, trips to the movies or the amusement park, gifts for loved ones, and so on. But creating those memories is still up to the individual. Plus, there are many other treasures that money can't enable, including love, trust, friendship, and spiritual peace. Ultimately, the adage is true: Money cannot buy happiness. To quote another common saying, "the best things in life aren't things." However, a persistent lack of money can trigger negative effects ranging from emotional stress and unhappiness to poor physical health, so having at least enough money to easily cover one's living expenses is a worthwhile and unselfish goal.