Richest 2% hold half the world’s assets

The Financial Times ^ | December 5 2006 | Chris Giles

[TheTruthAintPretty]

Personal wealth is distributed so unevenly across the world that the richest two per cent of adults own more than 50 per cent of the world’s assets while the poorest half hold only 1 per cent of wealth.

A survey released on Tuesday shows that middle-income countries with high growth rates still have a long way to go before they have a hope of catching up with the levels of prosperity of the richest.

[TheTruthAintPretty]

With a Democratic Congress coming in...subject to change. Wealth will not be either created nor redistributed...simply destroyed!

[WorkerbeeCitizen]

"Personal wealth is distributed so unevenly across the world that the richest two per cent of adults own more than 50 per cent of the world’s assets while the poorest half hold only 1 per cent of wealth."

So what. Life ain't fair and money ain't all it's propped up to be - get over it.

[dinoparty]

They act as if "ownership" of the assets by the richest 1/2 equates to hoarding of the assets under their pillows. The reality is that these assets are invested in ways that promote the general welfare of people in the middle and lower classes much more than any redistribution scheme would.

[dinoparty]

I meant "2%", not "1/2"...

[Knitebane]

Little chance of that.

Most of the hyper rich are left-wing collectivist pigs. The Dems will protect their own.

[CarrotAndStick]

Money is not a limited commodity.

[Jimmy Valentine]

The 2% number looks very suspicious to me also.

Some body has to be worth over a trillion dollars for this to be true. By the way that's not me........

[bmwcyle]

I must be your brother.

[TheTruthAintPretty]

I thought it was called the "FINANCIAL Times", not the "Workers Socialist Weekly".

Drudge has a headline for this article on his site.

Personally, and I know this may upset some, I think Drudge is not the "conserative" that many believe him to be.

[Fierce Allegiance]

Richest 2% hold half the world’s assets

Well, damn, what should we do to "fix" this situation? /s

[Jimmy Valentine's brother]

Money is not a limited commodity.

Exactly. In addition, membership is not limited or fixed. The Forbes list adds and deletes all the time.

[TheTruthAintPretty]

Well, damn, what should we do to "fix" this situation?

I would say let the economy grow, teach people to be wealth builders, get people out of the anti-capitalist mindset...but I'm not a politician.

A rising tide lifts all ships!

[Harmless Teddy Bear]

Well, damn, what should we do to "fix" this situation?

Encourage free markets, a just justice system and private property ownership?

It has worked well so far. The more a country has these things the richer they seem to be.

[Phsstpok]

they also provide 90% of the worlds employment and 95% of government taxes.

the poor ain't providing their fair share.

[tcostell]

No no no ... you've got it all wrong ... all this means is that it's time to use force to take that wealth from them. The people need to rise up and take the wealth from "the rich" who have been destroying this country and this planet since the beginning of time.

Haven't you ever heard of the labor theory of value?!!! Are you some kind of idiot or something?!!!

The line is now hot...You may fire when ready.

[ZULU]

I don't know - look at Soros and Kennedy and Gore. Rich liberals always protect themselves. They only target rich conservatives.

[wgflyer]

In America, the gap between the rich and the poor is the middle class. Focusing on the economic extremities of rich and poor, or punishing the rich, accomplishes nothing positive and policy that favors the poor encourages poverty.

[ken5050]

FYI, there is a similar article in today's NY Times business section...however please note the FIRST line of the article..

"Experts have long worried about the skewed distribution of..."

[AmericaUnited]

Richest 2% hold half the world’s assets

And as someone once wisely said "If you evenly divided all of the money in the world, those who are rich today would again have the majority of that money in a short time period."

"The poor you will have always." because they act and think like 'poor' people.

[Jimmy Valentine]

AHA!!! Yesssss, that's it!!

Drivin' that new Corvette, never spends a dime.....Alert the Trilateral Commission!!