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L.A. is a Wealthy City

Another list, another superlative for L.A. A study from PricewaterhouseCoopers shockingly concludes that Los Angeles is a rich city. “What about the all of the low-wage immigrants?” you ask. They’re more than covered. Indeed, our fair city is the third wealthiest in the world, after Tokyo and New York. The study based its rankings on each city’s gross domestic product using purchasing power parity (that is for all of you econ. types to discern), and it also accounted for population and average per capita. The results of this study give us some peace of mind about L.A. Certainly those hordes of hangers-on are living beyond their means, but somebody can afford all of those German and Italian cars roaming the streets.
· London Moving Up Rich List of World Cities [Breitbart]