Oh right, well it depends on CoL doesn't it? You can reframe European salaries as 'obscene' by world standards too. Both the US and Europe have totally broken and unaffordable housing markets, for example, but at least the Bay Area compensates with salary. I would say that relative to costs it's more that other salaries are obscenely low, if anything. People in Europe should be rioting, but unfortunately only the home owners are politically active.