News Richest 1% to Own Half of World?s Wealth by 2016

[Barefootsies]

Paris (AFP) - Wealth accumulated by the richest one percent will exceed that of the other 99 percent in 2016, the Oxfam charity said Monday, ahead of the annual meeting of the world's most powerful at Davos, Switzerland.

"The scale of global inequality is quite simply staggering and despite the issues shooting up the global agenda, the gap between the richest and the rest is widening fast," Oxfam executive director Winnie Byanyima said.

The richest one percent's share of global wealth increased from 44 percent in 2009 to 48 percent in 2014, the British charity said in a report, adding that it will be more that 50 percent in 2016.

The average wealth per adult in this group is $2.7 million (2.3 million euros), Oxfam said.

Of the remaining 52 percent, almost all -- 46 percent -- is owned by the rest of the richest fifth of the world's population, leaving the other 80 percent to share just 5.5 percent with an average wealth of $3,851 (3,330 euros) per adult, the report says.

Byanyima, who is to co-chair at the Davos World Economic Forum taking place Wednesday through Friday, urged leaders to take on "vested interests that stand in the way of a fairer and more prosperous world."

Oxfam called upon states to tackle tax evasion, improve public services, tax capital rather than labour, and introduce living minimum wages, among other measures, in a bid to ensure a more equitable distribution of wealth.

FULL STORY

[Slappin Fish]

Read it today then remembered this :

The 85 Richest People In The World Have As Much Wealth As The 3.5 Billion Poorest - Forbes

[Jman]

Time for Robin Hood to get out of hiding ;)

[420]

The real pharaohs remain anonymous.

Wait, it says the average wealth of the richest 1% is 2.7 million? I find it more interesting that the top .01% controls most of that wealth.

[mineistaken]

Evil rich! They be holdin' us down, yo!

[MaDalton]

trickle, trickle...

[TheSquealer]

smart, creative and financially responsible people are smart, creative and financially responsible people.

[slapass]

Originally Posted by 420

The real pharaohs remain anonymous.

Wait, it says the average wealth of the richest 1% is 2.7 million? I find it more interesting that the top .01% controls most of that wealth.

Seems pretty low to be in that group but it is world wide.

[hadden]

It's going to end badly for them.

[RummyBoy]

Actually its not that difficult to be in the 1%. Our account has to read the wealth reports of RBC, Credit Suisse and Forbes on regular basis and if I remember rightly the top 1% is actually about 70 million people with assets (after deducting debt) over (could it be as little as $1m - this could be wrong?). I think the Credit Suisse one is the most accurate. Huge amount people on GFY fall into that category and there are also many who will be way higher up the pyramid.

It going to end very badly because they are under attack, even recently:

Obama Proposes New Tax Increases on Wealthy to Help Middle Class - Bloomberg

[TheSquealer]

I love how poor people start with the base assumption that a rich person just has it all under his mattress and only got it by taking it from others. Their money is in the system, it creates jobs, expands companies, it funds loans for businesses, business growth, home purchases, cars, education and so on,.. furthermore, their "wealth" is on paper... not liquid. When Steve Jobs is worth $10 Billion USD, where do you think that "money" is exactly?

[mineistaken]

Originally Posted by slapass

Seems pretty low to be in that group but it is world wide.

Low? Come on, take 100 random people and it is not that common to have 1 who has 2.7 mil

[RummyBoy]

Originally Posted by TheSquealer

I love how poor people start with the base assumption that a rich person just has it all under his mattress and only got it by taking it from others. Their money is in the system, it creates jobs, expands companies, it funds loans for businesses, business growth, home purchases, cars, education and so on,..

Damn straight..... very few people get it. Their money has velocity and even if they do nothing, their money creates jobs and creates wealth even if its just sitting in a brokerage account or a bank account.

furthermore, their "wealth" is on paper... not liquid. When Steve Jobs is worth $10 Billion USD, where do you think that "money" is exactly?

Well if his $10 Billion USD is in Apple stock then its as liquid as Apple stock and he can sell a bunch whenever he wants although privately there might be rules about how much and how often selling (not to send out a wrong message).

I just read this on BBC and I'm not sure if its accurate but interesting reading:

BBC News - Richest 1% to own more than rest of world, Oxfam says

[mineistaken]

Originally Posted by TheSquealer

I love how poor people start with the base assumption that a rich person just has it all under his mattress and only got it by taking it from others. Their money is in the system, it creates jobs, expands companies, it funds loans for businesses, business growth, home purchases, cars, education and so on,.. furthermore, their "wealth" is on paper... not liquid. When Steve Jobs is worth $10 Billion USD, where do you think that "money" is exactly?

Most poor people do not great high skills in critical thinking
They just want to rip off the rich (higher income taxes is perfect example) and "redistribute" to the lazies.

[BlackCrayon]

Originally Posted by TheSquealer

smart, creative and financially responsible people are smart, creative and financially responsible people.

WONG..anyone who knows anything knows that being rich is determined well before you are born. you either got the blessing or you don't and those who do control those who don't and those who do choose those who do and those who don't, don't.

[BFT3K]

It's weird how the Rothchild family manages to stay off the radar of such reports. A family worth somewhere between $500 and $900 TRILLION DOLLARS! I guess that's how it works when you control the media, and you secretly run the world's entire phony banking system.

[TheSquealer]

Originally Posted by BlackCrayon

WONG..anyone who knows anything knows that being rich is determined well before you are born. you either got the blessing or you don't and those who do control those who don't and those who do choose those who do and those who don't, don't.

What a convenient explanation for being poor.... or why others are rich.

Of course hard work, determination, failing time and time and time again, rising up, dusting ones self off and continuing to take risks and work hard until they pay off has nothing at all to do with it. Whew! For a moment there, i had to work hard. Now i know it doesn't matter at all.

[mineistaken]

Originally Posted by BlackCrayon

WONG..anyone who knows anything knows that being rich is determined well before you are born. you either got the blessing or you don't and those who do control those who don't and those who do choose those who do and those who don't, don't.

poor rabble

[pimpmaster9000]

wealth does not trickle down like people think...

one wealthy person can buy 100 shirts but will not buy 100.000...he will go to the shop 3x/day for example but not 3000x/day...he will eat 3-4 meals but not 300000 meals...

if wealth was water and it actually trickled, then the people below do not all have equal size buckets, the size of the buckets does not entirely depend on intelligence or hard work but more on position or friendship...peoples capacity to earn money is not equal just like all buckets are not equal...but the ones with bigger buckets are always higher up and in better positions than the ones with small buckets...

its like a race where no car classes exist...the bugatti verons race the vw beetle...saying that horse power trickles down is ludicrous...its a competition...a race...not a sharing event...winners want to win...

huge wealth is mostly gained though being an asshole...steve jobbs being a good example with his china factories with suicide nets...sure he made 10.000s of millionaires in the USA who invested in apple stock ect...but not much trickle went down to the poor...most of them just got a min wage/suicide net job just like they had before...

wallmart is a great example...the wallmart CEO actually called the CEO-s of other large producers to lower pays for their workers so that wallmart could sell cheaper goods to their customers

I could give 100 examples in real life where in-equality in ability is regulated...like levels of WOW, there is newbie protection or nobody new would play...categories in boxing or just the super heavies would box...male/female tennis or just the males would play...but not in business

keep in mind that during the days of henry ford the rich paid 90% tax...he still built an empire...

does it suck balls that the best and brightest amongst us should have to pay 90% tax? fuck yes!...but the brightest and best amongst us are maybe 0.1% of the population...the other 99.9% will get progressively smaller and smaller buckets

in the end the paradox of wealth will hit us all...the top 1000 will have all the money, and nobody to sell to

[BlackCrayon]

Originally Posted by TheSquealer

What a convenient explanation for being poor.... or why others are rich.

Of course hard work, determination, failing time and time and time again, rising up, dusting ones self off and continuing to take risks and work hard until they pay off has nothing at all to do with it. Whew! For a moment there, i had to work hard. Now i know it doesn't matter at all.

this kind of attitude is that of a slave who whips himself! its not your fault you're poor. you've been kept down by the money mongers. they won't give the people any so how are you supposed to get any to even start to do anything with? without capital you're just a peon waiting to get peed on. 1 million is nothing to these rich devils, if they could just give it to me, it would be everything. why can't people see that?

[mineistaken]

Originally Posted by crucifissio

wealth does not trickle down like people think...

one wealthy person can buy 100 shirts but will not buy 100.000...he will go to the shop 3x/day for example but not 3000x/day...he will eat 3-4 meals but not 300000 meals...

Fool, it is not about personal expenses

It is about how his money works in creating added value/businesses/jobs.

[TheSquealer]

Originally Posted by BlackCrayon

this kind of attitude is that of a slave who whips himself! its not your fault you're poor. you've been kept down by the money mongers. they won't give the people any so how are you supposed to get any to even start to do anything with? without capital you're just a peon waiting to get peed on. 1 million is nothing to these rich devils, if they could just give it to me, it would be everything. why can't people see that?

No one is keeping you down. No one is stopping you from working hard, building pay sites, promoting them, having affiliates, having high quality content etc etc etc. You could start right now, today with a couple grand and learn how to buy traffic and making it work with dating/pua/penis pills and do quite well and grow. You could learn Objective C and write the next Flappy Bird or some retarded app/mobile game and be a millionaire overnight. No one is stopping you from doing anything you want to do to be a millionaire.

Well,... i mean no one but you.

[BFT3K]

The theft is so obvious, even this 12 year old girl can call it out...



https://www.youtube.com/watch?v=_ae7h8FioX0

[The Porn Nerd]

Great so the 99% have one year to stop the 1% from owning half of everything?

We're fucked. LOL

[BlackCrayon]

Originally Posted by TheSquealer

No one is keeping you down. No one is stopping you from working hard, building pay sites, promoting them, having affiliates, having high quality content etc etc etc. You could start right now, today with a couple grand and learn how to buy traffic and making it work with dating/pua/penis pills and do quite well and grow. You could learn Objective C and write the next Flappy Bird or some retarded app/mobile game and be a millionaire overnight. No one is stopping you from doing anything you want to do to be a millionaire.

Well,... i mean no one but you.

i'm just fucking around anyways. i've done many different things online since 98 and i've always been able to make a living but as much as i'll keep on chasing it, i don't think i'll every really be 'rich'. the previous posts were just to get people worked up but in all seriousness, its obviously much easier to succeed if you have free time and access to capital for projects than if you have to work 2 min wage jobs, take care of your kids and have zero access to capital or any kind of savings.

[TheSquealer]

Originally Posted by BlackCrayon

i'm just fucking around anyways. i've done many different things online since 98 and i've always been able to make a living but as much as i'll keep on chasing it, i don't think i'll every really be 'rich'. the previous posts were just to get people worked up but in all seriousness, its obviously much easier to succeed if you have free time and access to capital for projects than if you have to work 2 min wage jobs, take care of your kids and have zero access to capital or any kind of savings.

haha. fair enough!

[pimpmaster9000]

Originally Posted by mineistaken

Fool, it is not about personal expenses

It is about how his money works in creating added value/businesses/jobs.

yes I did address this with the suicide nets part you cut out and did not address ect...the actual value is created by the workers...the wealth of the company is in its workers...99% of the actual work is done by the workers...

but the profit does not go 99% to the workers...it does not trickle down...it trickles up

there is an obvious paradox here...

in reality: most people get just min wage jobs...with suicide nets....in china...

one can argue that the wealthy are in no way shape or form keeping people poor...a fair argument for people with high IQ...10% of the population will really make it no matter where you put them...but the obvious dying out of the middle class and globalisation of everything, makes it extremely difficult for the other 90% to compete or prosper...

the 90% tax will come sooner or later...

[H-Tom]

Good for them!

[pimpmaster9000]

"the worst form of inequality is to try to try to make unequal things equal"

Aristotle 300+BC

[Best-In-BC]

Originally Posted by TheSquealer

smart, creative and financially responsible people are smart, creative and financially responsible people.

[Bladewire]

The vast majority of human beings on this planet are easy to please with little motivation, and a few simple desires. They also innately need a higher power to keep them in line ( Religion, Government, Monarchy, etc. ). Nothing wrong with that, more for me

[Barry-xlovecam]

"The enemy will not perish of himself ..." -- Mao Tse Tung:Carry the Revolution Through to the End

Leaders and revolutions arise out of desperation. Class wars are not anything to be smug about.

[Joshua G]

pointless issue. as long as people are unequal, so too will be the division of wealth. as to what degree too much is with too few, the line as to what is moral is totally subjective & a key difference between left & right ideaologies.

rather than fighting needless culture wars, be happy with what you have, & if you dont like it, get more. & if you feel society holds you down, find another one.

[slapass]

Originally Posted by RummyBoy

Damn straight..... very few people get it. Their money has velocity and even if they do nothing, their money creates jobs and creates wealth even if its just sitting in a brokerage account or a bank account.



Well if his $10 Billion USD is in Apple stock then its as liquid as Apple stock and he can sell a bunch whenever he wants although privately there might be rules about how much and how often selling (not to send out a wrong message).

I just read this on BBC and I'm not sure if its accurate but interesting reading:

BBC News - Richest 1% to own more than rest of world, Oxfam says

The smaller incomes spend more of their income and create more jobs per dollar.

[slapass]

Originally Posted by The Porn Nerd

Great so the 99% have one year to stop the 1% from owning half of everything?

We're fucked. LOL

Ppssssttttt! I read other thread. You are in the 1%.

[Bladewire]

Originally Posted by Barry-xlovecam

Leaders and revolutions arise out of desperation. Class wars are not anything to be smug about.

No class wars happening anytime soon.
The 1% are doing their job by providing others the structure for ample opportunity to easily fullfill the bottom 6
(twitter, FB, Instagram, "anyone can be someone", Ipads, Smart Phones, cheap appliances, cheap fake jewelry, the internet, interactive video games, , etc)



Distraction with manufactured conflict regarding the bottom 6 fulfills most not to be motivated to pursue the top 2.
Self fulfilling the top 2 brings you into power at which point you're assimilated to either becoming a part of ruling the system in your niche, or changing the system minutely. Remember, human beings are content with the bottom 6 fulfilled. If you don't provide the bottom 6, more people will migrate to self actualisation & transcendence.

[georgeyw]

Originally Posted by BFT3K

The theft is so obvious, even this 12 year old girl can call it out...



https://www.youtube.com/watch?v=_ae7h8FioX0

Gee I wonder what her father does for a job...

[woj]

Originally Posted by crucifissio

yes I did address this with the suicide nets part you cut out and did not address ect...the actual value is created by the workers...the wealth of the company is in its workers...99% of the actual work is done by the workers...

but the profit does not go 99% to the workers...it does not trickle down...it trickles up

there is an obvious paradox here...

in reality: most people get just min wage jobs...with suicide nets....in china...

one can argue that the wealthy are in no way shape or form keeping people poor...a fair argument for people with high IQ...10% of the population will really make it no matter where you put them...but the obvious dying out of the middle class and globalisation of everything, makes it extremely difficult for the other 90% to compete or prosper...

the 90% tax will come sooner or later...

Marx would be proud

If wealth doesn't trickle down, how do you explain ridiculously high standard of living in most western countries (compared with the rest of the world)? (Compare lets say average citizen of India vs US...)

[RummyBoy]

Originally Posted by georgeyw

Gee I wonder what her father does for a job...

Definitely don't want a bank manager like that... she talks like a kid

[RummyBoy]

Meet the richest person in every US state:

The Filthy-Rich 50: Meet the richest person in each U.S. state - MarketWatch

[sperbonzo]

This is completely silly and skewed. If you make $32k including all income, bonuses, insurance, etc... in the US, you are in the top 1% earners on the planet.


Check out your own position in the world.... Global Rich List


Meanwhile:

"Per-person incomes in Turkey and Chile are where the United States level was in 1960. Malaysia is nearly there, as is Gabon. And that no-man’s-land between rich and poor countries has been filled in by China, India, Brazil, and others. Since 1960, China’s real income per person has gone up eightfold. India’s has quadrupled, Brazil’s has almost quintupled, and the small country of Botswana, with shrewd management of its mineral resources, has seen a thirty-fold increase. There is a class of nations in the middle that barely existed 50 years ago, and it includes more than half of the world’s population."



.

[scottybuzz]

Originally Posted by sperbonzo

This is completely silly and skewed. If you make $32k including all income, bonuses, insurance, etc... in the US, you are in the top 1% earners on the planet.


Check out your own position in the world.... Global Rich List


Meanwhile:

"Per-person incomes in Turkey and Chile are where the United States level was in 1960. Malaysia is nearly there, as is Gabon. And that no-man?s-land between rich and poor countries has been filled in by China, India, Brazil, and others. Since 1960, China?s real income per person has gone up eightfold. India?s has quadrupled, Brazil?s has almost quintupled, and the small country of Botswana, with shrewd management of its mineral resources, has seen a thirty-fold increase. There is a class of nations in the middle that barely existed 50 years ago, and it includes more than half of the world?s population."



.

Exactly. You will get a lot of idiots hating on the rich, when they themselves are unfortunately in the %1.

This just shows the extent of poverty in countries like India and China.

[tony286]

Originally Posted by sperbonzo

This is completely silly and skewed. If you make $32k including all income, bonuses, insurance, etc... in the US, you are in the top 1% earners on the planet.


Check out your own position in the world.... Global Rich List


Meanwhile:

"Per-person incomes in Turkey and Chile are where the United States level was in 1960. Malaysia is nearly there, as is Gabon. And that no-man?s-land between rich and poor countries has been filled in by China, India, Brazil, and others. Since 1960, China?s real income per person has gone up eightfold. India?s has quadrupled, Brazil?s has almost quintupled, and the small country of Botswana, with shrewd management of its mineral resources, has seen a thirty-fold increase. There is a class of nations in the middle that barely existed 50 years ago, and it includes more than half of the world?s population."



.

you cant compare first work with third world sorry.

[Slappin Fish]

Originally Posted by sperbonzo

This is completely silly and skewed. If you make $32k including all income, bonuses, insurance, etc... in the US, you are in the top 1% earners on the planet.


Check out your own position in the world.... Global Rich List

According to the BBC you need around $800 000 to be in the top 1%.

I'll take their stats over the cute little website.

Also aren't you in banking? we are talking wealth not income

[RummyBoy]

Well the cute little website thinks you only need $1.4m to be in the top half percent in the world.....

Originally Posted by scottybuzz

This just shows the extent of poverty in countries like India and China.

That's very true. People just can't comprehend the scope of poverty in a country like India where the wealthy class is less than 50 million people or less than 4% of the country. Middle class is maybe 200 million people.

That leaves over a billion people who are poor or on the poverty line.... these people have ZERO education and absolutely no hope.

Burger Flippers in U.S. Make About as Much as State Bank Chiefs in India - Bloomberg

[woj]

Originally Posted by RummyBoy

Well the cute little website thinks you only need $1.4m to be in the top half percent in the world.....

That's very true. People just can't comprehend the scope of poverty in a country like India where the wealthy class is less than 50 million people or less than 4% of the country. Middle class is maybe 200 million people.

That leaves over a billion people who are poor or on the poverty line.... these people have ZERO education and absolutely no hope.

Burger Flippers in U.S. Make About as Much as State Bank Chiefs in India - Bloomberg

...but are we not comprehending their "poverty" or our "wealth"? Is it not the case that residents of all those countries had standard of living even lower in the past? Perhaps their standard of living is normal, and we are the ones that are ridiculously wealthy?

[RummyBoy]

Originally Posted by woj

Is it not the case that residents of all those countries had standard of living even lower in the past?

Yes true - if you ask them they all say they have more money than in the old days.

Perhaps their standard of living is normal, and we are the ones that are ridiculously wealthy?

Their standard of living is getting better. However, our standard of living unfortunately is not sustainable because its funded by debt (in the western world). Something eventually has to give and a serious adjustment is coming in (sometime in the next decade). Its not going to be pretty but our standard of living inevitably has to fall.

I think Obama's plan to tax the rich is just the beginning of such "adjustments" but they've been going on for some time especially in Europe....

[slapass]

Originally Posted by tony286

you cant compare first work with third world sorry.

Exactly his point.

[slapass]

Originally Posted by RummyBoy

Yes true - if you ask them they all say they have more money than in the old days.



Their standard of living is getting better. However, our standard of living unfortunately is not sustainable because its funded by debt (in the western world). Something eventually has to give and a serious adjustment is coming in (sometime in the next decade). Its not going to be pretty but our standard of living inevitably has to fall.

I think Obama's plan to tax the rich is just the beginning of such "adjustments" but they've been going on for some time especially in Europe....

But the other countries are supported by aid, loans and debt also.

[Bladewire]

Originally Posted by RummyBoy

Its not going to be pretty but our standard of living inevitably has to fall.

Not true - Thu Culling of Man - nothing wrong with it