I see that something is being made of a new statistic that purports to show that Britain is richer than America for the first time in over a century.
Well, as Disraeli might have said there are"lies, damn lies and statistics"
In fact the reality of the difference in wealth between the two countries should reflect the relative purchasing power of the Dollar versus the Pound. There are several ways of measuring the difference in purchasing power, and one of the best is the Economist "Big Mac index". The Big Mac is a standard basket of different goods: bread, meat etc. The price of the hamburger is easily measured and can be compared between different currencies. If one normalises the prices, then we can obtain a crude measure of purchasing power parity.
When we do this between the US and the UK, we find that the Big Mac is 18% more expensive in the UK than in the US, in other words, we could say that Sterling is 18% overvalued versus the Dollar. So, far from British lifestyles exceeding those of America, in fact we could say that we are roughly 18% poorer. So the statistic that GDP per capita in the UK is GBP 23.500, while in the US it is "only" GBP 23,250 is meaningless. If you make the statistic at purchasing power parity, in fact the Americans are indeed still richer. So, while George W. Bush continues to blunder around he has yet to reach that particular nadir... at least so far.