soapbox

A new UBS survey found that Tokyo residents have the highest purchasing power in the world, according to their new metric which was aimed to eliminate confusion caused by exchange rates/conversion/etc. “Wages only become meaningful in relation to prices — that is, what can be bought with the money earned,” it said.

To that end, they settled on the Big Mac.

Using a “weighted net hourly wage in 14 professions” and divided it into the local price of “a globally available product,” Tokyo residents come out on top, with the artery-clogging sandwich costing only 10 minutes of work, compared to the global average of 35 minutes, LA/NY/Miami at 13 minutes, or Bogota (Columbia) at over 90 minutes.

Somehow, I have the feeling that the nation of gradstudent-land would be way way behind, maybe 2-3 hours? 

I’m fairly certain that I won’t be seeing this video on YouTube anytime soon.  At least, I hope not.