I didn't actually know what it was until I looked it up just now; my extremely vague idea wasn't even in the right ballpark. (So what Dr. Happiness was actually talking about was GDP adjusted to purchasing power parity.) I guess there's probably a good chance that I actually have heard of this idea before, when I read an article in the Economist or something years ago about the Big Mac index, and forgot about it. I guess we might be hearing more and more about it what with the US$ collapsing.
I'm curious how much you Merkins are hearing about your dollar collapsing, btw. Up here, "Loonie sets new record, again!" and "Retailers suck for not dropping their prices!" have been near the top of the news seems like two days out of three since the end of the summer. It's only been in the last couple of days (especially with China rumbling about how maybe the US$ is junk now) that word seems to be bubbling up near the surface that it's not that the CDN$ is rising but that the US$ is collapsing and maybe we might have bigger things to worry about than retailers ripping us off.
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timeasmymeasure
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Date: 2007-11-09 01:12 am (UTC)I'm curious how much you Merkins are hearing about your dollar collapsing, btw. Up here, "Loonie sets new record, again!" and "Retailers suck for not dropping their prices!" have been near the top of the news seems like two days out of three since the end of the summer. It's only been in the last couple of days (especially with China rumbling about how maybe the US$ is junk now) that word seems to be bubbling up near the surface that it's not that the CDN$ is rising but that the US$ is collapsing and maybe we might have bigger things to worry about than retailers ripping us off.