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[–] eqi397 [S] ago 

question is: why are people in Asia able to live on $1-$2/hr? because food/rent/everything else is 10 times cheaper? why is everything more expensive in US? greed! govt taxes to pay for never ending wars

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[–] no_step_on_snek ago 

Aside from different economies, labor supply and government policy the petrodollar also plays a significant role in why things are cheaper vis a vis living in the states.

Purchasing power for the average person isn't all that different with the more developed countries, I feel, which is an observation that doesn't get bogged down with misconceptions about forex rates.