Skip to comments.The 1 Percent Now Have Half The World’s Wealth [Leftist hand-wringing alert]
Posted on 11/14/2017 1:32:58 PM PST by fwdude
The richest 1 percent of the worlds population owns more than half of household wealth, with their share skyrocketing since the global financial crisis, a new report says.
The annual Global Wealth Report, published Tuesday by Credit Suisse, points out that while the top 1 percent and 10 percent of the worlds richest saw their share of wealth decline between 2001 and 2008, the trend swung the other way after the financial crisis.
From 2013 onwards, the share of the top 5 percent has been above the level observed at the start of the century, and the share of the top 1 percent is now significantly above what we estimate for 2000, the report said.
(Excerpt) Read more at newsweek.com ...
so how much has world wealth increased in that time?
Liberalism is a mental disease.
That means the wealthy were declining during the Bush years and increasing during the Obama era?
When we talk about the Obama Administrations MO of rewarding your friends and punishing your enemies, we should stuff this in the ‘Progressives’ face.
And in the old Soviet Union, it was just as bad.
Nice thing is, civilization has never had a higher standard of living than it has today.
It certainly had a higher level of morals and ideals, but that’s another story.
Doesn’t matter. Wealth envy is the only agenda item.
I'm always stunned when I see photos of people in a third-world squalid country with smart phones.
And some of us have eternal riches in Christ, that will never waste away.
Given that most of that 1% are leftist, this is just an example of the smoke and mirrors that keeps the brainwashed puppets turning out for demonstrations and elections.
Actually this is a BIG problem, and isn’t a left or right issue... the problem with the right is they have become mind numbingly stupid on some aspects of economics as well....
This sort of thing happens when wealth is not flowing as it should through societies, and eventually such failings lead to open violence and a complete collapse of societies, not only economies.
Folks are killing the goose the lay the golden egg, and its a problem. And the failure of those on the right to even contemplate that reality, because they are so busy shouting down the left on this... yes the lefts concerns about this are based on incorrect world views, but the problem with the lack of wealth flown through societies is what leads to tyranny in the short term, and chaos and societal upheaval in the long term.
We (everyone, regardless of political affiliation) needs to wake up to the fact that the goose is being strangled, and that’s NOT good, not at all
Destroy the wealth of the wealthy and you’ll destroy the wealth of everyone else.
There has to be wealthy people, or jobs won’t be created and massive projects will not be attempted or completed if they are.
This is old Communist/Socialist propaganda, always the big promises before the long ditches full of the bodies at last in part made up of those gullible enough to help usher in the power to those that ultimately destroy them.
Yeah and never has so much of the world been under a socialist system of government ever before. Almost all governments in the entire world, including the U.S. are at a minimum heavily influenced by socialist policy...most are outright socialist. So what does that tell you about socialism? Hmmmm?
The great irony - Statism, Progressivism and Social Engineering create wealth inequality.
High regulatory states with top down systems and centrally planned economies always produce rent-seekers and oligarchs.
BTW, to be in the World’s top 1% of income earners, you need only earn $32,400/yr. (usd)
To be in the World’s top 1% of net worth, it is $770,000 (usd)
People who spend every cent they can get their hands on the minute they get their hands on it will never have "wealth" no matter how much of other people's stuff you steal and give to them.
The “Goose” is worth what he gets paid. That is economics.
Try reading Thomas Sowell for a little enlightenment on this “wealth inequality” garbage.
I agree. I’m even more stunned to know who is buying them those phones.
The West has burned up so much wealth to help these folks, and in many ways things are worse off now.
“Nice thing is, civilization has never had a higher standard of living than it has today.”
Just shows how important freedom and the free market are. I was thinking that these ratios are probably similar to what they had back in Medieval times - where the people that had the money also had ALL of the power.
That's most coastal California home owners.
Our education system needs to start teaching the difference between wealth creation and wealth capture.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.