62 individuals have more wealth than the poorest half of the planet's population

[Deleted]

https://www.oxfam.org.uk/media-centr...economic-forum

Five years ago, it took 388 people put together to get to this number. Now it's down to 62. The wealth of those richest 62 has risen 44% since 2010, while the wealth of the poorest half of the planet's population has gone down 41%.

The old adage is true. The rich do get richer, and the poor do get poorer.

[Doctor Amadeus]

Hahaha, clicked on the link the first comments on the page mention Milton Friedman! It's like that rabid extremism of Marxism, Ohh Capitalism or ohh Communism would work if only people did it right.

The reason so few have so much is because of the fear that goes along with getting a handle on that bullshit and people realizing how fucking insane it would be if it was 62, 400 or even a Million people who own most of the entire wealth over the planet of 7 billion people.

[Mayhem]

Yeah, but that´s totally fine, because these 62 really earned it. Those other 3.698.060.399 people are lazy slackers that aren´t working hard enough.

[unbound]

https://www.oxfam.org.uk/media-centr...economic-forum

Five years ago, it took 388 people put together to get to this number. Now it's down to 62. The wealth of those richest 62 has risen 44% since 2010, while the wealth of the poorest half of the planet's population has gone down 41%.

The old adage is true. The rich do get richer, and the poor do get poorer.

But remember, they just can't afford to raise minimum wage...

[Deleted]

Yeah, but that´s totally fine, because these 62 really earned it. Those other 3.698.060.399 people are lazy slackers that aren´t working hard enough.

Damn liberals always looking for a handout.

[Deleted]

https://www.oxfam.org.uk/media-centr...economic-forum

Five years ago, it took 388 people put together to get to this number. Now it's down to 62. The wealth of those richest 62 has risen 44% since 2010, while the wealth of the poorest half of the planet's population has gone down 41%.

The old adage is true. The rich do get richer, and the poor do get poorer.

The current financial system benefits the 1% and not the overall population....... simple as that really.

Those statistics can only indicate one thing, we live in a financial system which is designed to enrich and support the wealthiest people in society at the expense of everyone else.

[KrazyK923]

Capitalism! Woo!

[Deleted]

Damn liberals always looking for a handout.

Typical uneducated nonsense from someone who doesnt understand how the world works *sigh*

Yeah cos the 3.5billion people are all lazy assholes right... they had an equal chance on birth to gain billions of dollars in their bank accounts as those 62 right?

Yes ur an uneducated fukkwit.

Mod Edit: Infracted

[Doctor Amadeus]

Question now if we paid people in fresh water instead as a form of currency, exactly how many people haven't earned the right not to fucking die for lack of water to drink.

[Deleted]

Typical uneducated nonsense from someone who doesnt understand how the world works *sigh*

Yeah cos the 3.5billion people are all lazy assholes right... they had an equal chance on birth to gain billions of dollars in their bank accounts as those 62 right?

Yes ur an uneducated fukkwit.

Your prose suggest you are the uneducated fool and the fact you couldn't tell i was being sarcastic.

[Deleted]

Your prose suggest you are the uneducated fool and the fact you couldn't tell i was being sarcastic.

My reply states total facts... yours is an opinion based in uneducated bias nonsense.

[Sargerasraider]

I feel like we had this same topic a couple of days ago.

It is kind of interesting how people can miss the difference between income and wealth. As an example, my wife and I have pretty good incomes that will easily put us in the top couple of percent of people in the world. On the other hand, we elected to buy a house and have student loan payments (nothing onerous), but that put us in "negative wealth". If you add up the "negative wealth" of all those in any sort of debt, it's no surprise that some people with positive wealth will exceed that. As a thought experiment, consider this. It's quite possible that a single person with a hut in wherever has more combined wealth than all the 20-30 year olds in the US who have student loan payments combined. Would you trade places?

On the other hand, largely due to expansion of markets and free trade, the number of people in extreme poverty in this world has never been lower. But... that is not as newsworthy and doesn't feed the narrative.

[Deleted]

My reply states total facts... yours is an opinion based in uneducated bias nonsense.

You are so thick you actually believe i thought that some 3.7 billion people are liberals looking for handouts. I'm done wasting my time with the likes of you.

[Vargulf the Happy Husky]

Typical uneducated nonsense from someone who doesnt understand how the world works *sigh*

Yeah cos the 3.5billion people are all lazy assholes right... they had an equal chance on birth to gain billions of dollars in their bank accounts as those 62 right?

Yes ur an uneducated fukkwit.

He was joking. People like you make the internet suck.

OT yeah it sucks i give up 160 hours of my life each month for JUST ENOUGH to get by. I've been to college, I don't have a degree though. Myself and my warehouse coworker are the only two people that work there without a degree. The rest of the educated are making the same money we are, getting the same hours, doing basically the same work.

^Just wanted to knock out the whole "go to college and youll be happier" argument before it even arises^

[Fugus]

I feel like we had this same topic a couple of days ago.

It is kind of interesting how people can miss the difference between income and wealth. As an example, my wife and I have pretty good incomes that will easily put us in the top couple of percent of people in the world. On the other hand, we elected to buy a house and have student loan payments (nothing onerous), but that put us in "negative wealth". If you add up the "negative wealth" of all those in any sort of debt, it's no surprise that some people with positive wealth will exceed that. As a thought experiment, consider this. It's quite possible that a single person with a hut in wherever has more combined wealth than all the 20-30 year olds in the US who have student loan payments combined. Would you trade places?

On the other hand, largely due to expansion of markets and free trade, the number of people in extreme poverty in this world has never been lower. But... that is not as newsworthy and doesn't feed the narrative.

The number of those in extreme poverty have gone down which is good, but the number of those in poverty period has gone up while those at the top of pure exploded in wealth which was the point of the whole thing.

And you, my friend, are nowhere near an issue in this situation from what you have posted as far as your income or wealth is concerned. 62 people equal less than 0.001% of the population owning more income than the bottom 50% of the population is just disgusting.

And most know the difference between income and wealth and one major thing about that is, the bigger your income is compared to your expenses, the quicker your wealth can expand compared to others and we have likes of the Waltons whom collectively are receiving (not earning) upwards of 2.2 billion annually from Walmart which leaves them with huge sections of leftover cash to build wealth while others end up having little to nothing to attempt to build anything with and the system does little to remedy that and plenty to make it worse.

[Ryme]

I can understand how you can look at this statistic and think it horrible, but I'm not sure what feasibly could be done that isn't being done already to change it?

[Sargerasraider]

The number of those in extreme poverty have gone down which is good, but the number of those in poverty period has gone up while those at the top of pure exploded in wealth which was the point of the whole thing.

And you, my friend, are nowhere near an issue in this situation from what you have posted as far as your income or wealth is concerned. 62 people equal less than 0.001% of the population owning more income than the bottom 50% of the population is just disgusting.

And most know the difference between income and wealth and one major thing about that is, the bigger your income is compared to your expenses, the quicker your wealth can expand compared to others and we have likes of the Waltons whom collectively are receiving (not earning) upwards of 2.2 billion annually from Walmart which leaves them with huge sections of leftover cash to build wealth while others end up having little to nothing to attempt to build anything with and the system does little to remedy that and plenty to make it worse.

No, the absolute number of people in extreme poverty has gone down in the last 30 years quite substantially, even as the population has dramatically risen. https://en.wikipedia.org/wiki/Poverty

Again, if you consider that large amounts of people have some form of debt, all of those combined together will have a total negative wealth and be exceeded by only a single person who has a positive amount of wealth. These statistics look at inequality in a bizarre way.

[Knolan]

Capitalism! Woo!

Actually a lot of first world nations are in a corporatism system not a capitalism one.

See the government heavy control of interest rates and bail outs for a few examples.

[caervek]

Yes ur an uneducated fukkwit.

He was using something we educated folk call "sarcasm".

[Fugus]

No, the absolute number of people in extreme poverty has gone down in the last 30 years quite substantially, even as the population has dramatically risen. https://en.wikipedia.org/wiki/Poverty

Again, if you consider that large amounts of people have some form of debt, all of those combined together will have a total negative wealth and be exceeded by only a single person who has a positive amount of wealth. These statistics look at inequality in a bizarre way.

I know, that is what I said.

The number of those in extreme poverty went down while the number of those in poverty period increased as the middle class died and the wealth and income of those at the absolute top exploded relative to everyone else.