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Study Finds Richest 1% Is Likely to Control Half of Global Wealth

ChrisKnight06

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Nov 30, 2005
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The 80 wealthiest people in the world altogether own $1.9 trillion, the report found, nearly the same amount shared by the 3.5 billion people who occupy the bottom half of the world’s income scale. (Last year, it took 85 billionaires to equal that figure.) And the richest 1 percent of the population, who number in the millions, control nearly half of the world’s total wealth, a share that is also increasing.

http://mobile.nytimes.com/2015/01/19/business/richest-1-percent-likely-to-control-half-of-global-wealth-by-2016-study-finds.html?referrer=


Trickle, trickle! *
Posted from Rivals Mobile
 
Good thing I am in top 1%.
nerd.r191677.gif
 
Originally posted by chemmie:
It's gonna start trickling down any day now.
Says the guy just the other day cheerleading the fact that the stock market is an bull market.

If only you had the mental capacity to understand that the huge increase in assets, especially stocks, overwhelming benefit the wealthy and ultra wealthy the most. So that rapid accumulation in wealth we've seen over the past 4 years, compared to the rest of the world, is largley due in part to the stock market's rise.

I know you can't comprehend this since you're a simpleton idiot.

Just try to rationalize a bit the next time you roll out "THE STOCK MARKETS UP, OBAMA IS THE BEST".
 
I saw a documentary called "Snowpiercer" that dealt with the harsh realities that the poor suffer at the hands of the rich and how we can rectify the situation.
 
Originally posted by UCFKnight85:
Originally posted by chemmie:
It's gonna start trickling down any day now.
Says the guy just the other day cheerleading the fact that the stock market is an bull market.

If only you had the mental capacity to understand that the huge increase in assets, especially stocks, overwhelming benefit the wealthy and ultra wealthy the most. So that rapid accumulation in wealth we've seen over the past 4 years, compared to the rest of the world, is largley due in part to the stock market's rise.

I know you can't comprehend this since you're a simpleton idiot.

Just try to rationalize a bit the next time you roll out "THE STOCK MARKETS UP, OBAMA IS THE BEST".
Are you really this stupid or are you being deliberately obtuse?

Why would anyone ever complain that stocks are at record highs? The point is exactly that same as I have been saying, record stocks, record profits, record executive pay...stagnant, if not close to negative counting for inflation, pay for everyone else for the last 30 years, and a growing lower class. Put it all together, Copernicus. I know you can do it.
 
Originally posted by chemmie:


Originally posted by UCFKnight85:

Originally posted by chemmie:
It's gonna start trickling down any day now.
Says the guy just the other day cheerleading the fact that the stock market is an bull market.

If only you had the mental capacity to understand that the huge increase in assets, especially stocks, overwhelming benefit the wealthy and ultra wealthy the most. So that rapid accumulation in wealth we've seen over the past 4 years, compared to the rest of the world, is largley due in part to the stock market's rise.

I know you can't comprehend this since you're a simpleton idiot.

Just try to rationalize a bit the next time you roll out "THE STOCK MARKETS UP, OBAMA IS THE BEST".
Are you really this stupid or are you being deliberately obtuse?

Why would anyone ever complain that stocks are at record highs? The point is exactly that same as I have been saying, record stocks, record profits, record executive pay...stagnant, if not close to negative counting for inflation, pay for everyone else for the last 30 years, and a growing lower class. Put it all together, Copernicus. I know you can do it.
roll.r191677.gif


This is exactly the point I made in the other thread. Yet now you're agreeing?

You're like a stream of piss twisting in the wind.
 
But we get free insurance and now free junior college, what is there to complain about?
 
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
 
Chemmie, you are the 1% you fat fork. How much of your wealth are you giving away? It can't be much considering all youyour vacations and face beer you drink. How about you stop lecturing others and start looking inward? $34000 is what it takes to be in the top 1% globally. Engineers, even those who cheated their way through school, are definitely in that category.

http://www.dailymail.co.uk/news/article-2082385/We-1--You-need-34k-income-global-elite--half-worlds-richest-live-U-S.html
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It's almost comical these days to see how easily and aggressively central banks wave their magic wand and print more money, which inevitably ends up in the hands of the ultra rich and crooked bankers. Trickle down has been a complete farce.

Congress doesn't even try to argue for meaningful budget reform anymore. It's politically dangerous. Money printing is touted as "brave decision". wtf? Brave? Brave is letting companies go under and let the market handle itself, and then dealing with the political backlash.

We've become a zombie global economy addicted to entitlements and money printing. This does not end well. I just hope it can last another 50 years or so before falling apart. Forty four years in a monetary system should be in it's infancy. Like should be first inning or so still, but the central banks have fast forwarded it to the fifth inning. We're in the eye of a hurricane. Take cover bitchez!
 
Originally posted by Knight_Light:
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
The right-wing in this country is perfectly content with us turning into India with a large lower class, small but extremely wealthy upper class, and small middle class that should just shut up and be content.

We should be happy there are jobs at all!
 
Originally posted by C-MontCityKnight2:
Chemmie, you are the 1% you fat fork. How much of your wealth are you giving away? It can't be much considering all youyour vacations and face beer you drink. How about you stop lecturing others and start looking inward? $34000 is what it takes to be in the top 1% globally. Engineers, even those who cheated their way through school, are definitely in that category.

http://www.dailymail.co.uk/news/article-2082385/We-1--You-need-34k-income-global-elite--half-worlds-richest-live-U-S.html
Posted from Rivals Mobile
Woohoo!!! I'm moving to Cambodia! I'm rich, there!
 
Way to deflect, skinny. So which 1% is it that you are so concerned about? I guess only when you define it in some way that doesn't include you so you can bitch and moan when in reality you are just as big a part of the problem, if you consider it a problem.

You could be the next Steve Jobs - all you need is an idea. And maybe a subscription to Weight Watchers - no one would take you seriously when they have to reinforce the stage to support your cheeseburgers.
Posted from Rivals Mobile
 
Originally posted by chemmie:


Originally posted by Knight_Light:
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
The right-wing in this country is perfectly content with us turning into India with a large lower class, small but extremely wealthy upper class, and small middle class that should just shut up and be content.

We should be happy there are jobs at all!
I challenged you before to actually travel to India, to see how utterly f*cking stupid your comment was, but I know you won't. You're a pussy and afraid to actually see these places you always use to compare us to. Plus they don't have ultra overpriced shit to put on a plate and sell to you for 25 Euros, right?

You're an ignorant blowhard. Thankfully you have no role in society beyond drinking beer and lying on your couch, so your negative impact on the world is minimized. Thank God!
 
Good. If other's can't buy it, and if you are the 1% and can afford it...do it.

Half of that wealth in this statistic is purely numbers, totals that exist in hyperspace that if we were hit with something that wiped out all electronic media wouldn't exist to begin with. This is not actual Real-estate or physical goods like gold or other PHYSICAL wealth securities. Article is horseshit and is a piss-poor attempt at trying to drum up support for an all-out class war or a disposal of free-market capitalism altogether. The bottom line is most people are simple envious of other people's ability to spend money freely, that is all this article is complaining about. It's just a way to call the rich, in a prejudiced manner I might add, all assholes as it lumps the 1% into a single category saying they have no compassion, or some other shared delusion, which is ALSO absolute horseshit.



I'll tell you the problem with society. Too much preaching of ideology in public schools and not enough teaching about finance, accounting, economic and simple everyday money-management. The reason why many are poor is they don't know how to save (in the US, can't speak for other nations). Many do learn, especially in scenarios of the less fortunate, and pull themselves out of poverty. It happens ALL THE TIME.
This post was edited on 1/20 11:22 AM by Malthus Doctrine
 
Originally posted by ChrisKnight06:
BUY GOLD
Posted from Rivals Mobile
Yep, and real estate.

People are not equal... having different IQs, technical/vocational aptitudes, education, physical builds, and a myriad of other diverse abilities and handicaps. We need, and have (albeit not perfect), a system that reflects DIVERSITY. Including income. Contrary to John Lennon, we do NOT need to "live as one", we do not need to "all get along". We do not need some all-encompassing secular or religious dogma "umbrella" that arbitrarily claims all are equal when we are NOT.

Income should reflect a person's education, work ethic, ability to save, frugality and various aptitudes...not solely based on their "right to exist". The fact that more and more people are getting poor or dropping from the middle class reflects educational deficiencies and an inability to understand cost versus value. People just buy buy buy when they get their money. The growing mob-mentality also reinforces this. Many of you are apt to point out the growing stupidity of people...see any correlation to money-management?

Build your own foundation, make as much money as possible so that you can practice "FAMILY socialism" by ensuring that your own FAMILY is taken care of first, and their successors/future generations. Your family, and MAYBE friends are the first that you should look out for if rich, to hell with the rest of the mob. With your own foundation you can choose based on your own information who gets your money via charity. Fight, at all costs, those that want to take your property, physical or intellectual, from you.

This concept that people are born already indebted to society is absolute horseshit. Many of you claim "I'm compassionate and care about people I don't even know" are the same folk that drop 25.00 on a plate of food some idiot calls "gourmet". It's f'ing hypocritical and stupid. It's like they are trying to rationally justify their duality or hide their guilt for having money. Oh, by the way, there's your "trickle" down example...rich man, buys 25.00 chicken dinner. Supporting a local restaurant likely started by an entrepreneur that has several service employees that also benefit from the subsequent tips.


Also, too many people care about wealth more than their health.

So I leave you all with the lesson on http://howtonotgivea****.com/



This post was edited on 1/20 2:34 PM by Malthus Doctrine
 
Originally posted by UCFKnight85:
Originally posted by chemmie:


Originally posted by Knight_Light:
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
The right-wing in this country is perfectly content with us turning into India with a large lower class, small but extremely wealthy upper class, and small middle class that should just shut up and be content.

We should be happy there are jobs at all!
I challenged you before to actually travel to India, to see how utterly f*cking stupid your comment was, but I know you won't. You're a pussy and afraid to actually see these places you always use to compare us to. Plus they don't have ultra overpriced shit to put on a plate and sell to you for 25 Euros, right?

You're an ignorant blowhard. Thankfully you have no role in society beyond drinking beer and lying on your couch, so your negative impact on the world is minimized. Thank God!
India has an insane wealth gap. The U.S. has an insane wealth gap, and it is getting worse. We are turning into India, and the Republicans response is to keep implementing policies to increase the gap.
No visit necessary, Copernicus, just the ability to think. You're an idiot of biblical proportions. I can't even argue with you on here anymore, because you are too stupid to even know what I'm saying, much less try to come up with an argument in response.
 
Originally posted by chemmie:

Originally posted by UCFKnight85:
Originally posted by chemmie:
It's gonna start trickling down any day now.
Says the guy just the other day cheerleading the fact that the stock market is an bull market.

If only you had the mental capacity to understand that the huge increase in assets, especially stocks, overwhelming benefit the wealthy and ultra wealthy the most. So that rapid accumulation in wealth we've seen over the past 4 years, compared to the rest of the world, is largley due in part to the stock market's rise.

I know you can't comprehend this since you're a simpleton idiot.

Just try to rationalize a bit the next time you roll out "THE STOCK MARKETS UP, OBAMA IS THE BEST".
Are you really this stupid or are you being deliberately obtuse?

Why would anyone ever complain that stocks are at record highs? The point is exactly that same as I have been saying, record stocks, record profits, record executive pay...stagnant, if not close to negative counting for inflation, pay for everyone else for the last 30 years, and a growing lower class. Put it all together, Copernicus. I know you can do it.
Let's see, you've got reduced labor demand due to oppressive federal regulations and offshoring gutting our manufacturing and semi-skilled labor base and you've got a glut of labor due to unemployment, underemployment, and immigration both legal and illegal. Why oh Why are wages stagnant?

Where aren't wages stagnant in America? Why that's the jobs that America needs. In IT, for instance, the entry level job pay has almost doubled in the last 10 years. Accounting, college education jobs, etc. Bottom line, the workers that trained for the new American economy are doing well. They're doing well world-wide.

What's your solution to fix the rest? Subsidizing the college industrial complex? Taking more from those who have made good decisions and are productive?

What are the income numbers anyways? Would you feel like America's top 1% if you make $340k (2012 numbers) a year? There are a lot of college professors spewing liberal wealth envy against the 1% that actually qualify as 1%. How about if you make $140k? Would you feel like a top 5%'er? More importantly, what is the transition rate of people in and out of the 1%? Last I heard it was something like 75%.
 
Originally posted by UCFKnight85:
Originally posted by chemmie:


Originally posted by UCFKnight85:

Originally posted by chemmie:
It's gonna start trickling down any day now.
Says the guy just the other day cheerleading the fact that the stock market is an bull market.

If only you had the mental capacity to understand that the huge increase in assets, especially stocks, overwhelming benefit the wealthy and ultra wealthy the most. So that rapid accumulation in wealth we've seen over the past 4 years, compared to the rest of the world, is largley due in part to the stock market's rise.

I know you can't comprehend this since you're a simpleton idiot.

Just try to rationalize a bit the next time you roll out "THE STOCK MARKETS UP, OBAMA IS THE BEST".
Are you really this stupid or are you being deliberately obtuse?

Why would anyone ever complain that stocks are at record highs? The point is exactly that same as I have been saying, record stocks, record profits, record executive pay...stagnant, if not close to negative counting for inflation, pay for everyone else for the last 30 years, and a growing lower class. Put it all together, Copernicus. I know you can do it.
roll.r191677.gif


This is exactly the point I made in the other thread. Yet now you're agreeing?

You're like a stream of piss twisting in the wind.
The point you made in the other thread?
You mean where I finally just resorted to a facepalming polar bear because you were too stupid to realize you were saying the exact same thing I was saying?
Stop being such a moron, your mother is getting upset.
 
Originally posted by chemmie:

Originally posted by UCFKnight85:
Originally posted by chemmie:


Originally posted by Knight_Light:
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
The right-wing in this country is perfectly content with us turning into India with a large lower class, small but extremely wealthy upper class, and small middle class that should just shut up and be content.

We should be happy there are jobs at all!
I challenged you before to actually travel to India, to see how utterly f*cking stupid your comment was, but I know you won't. You're a pussy and afraid to actually see these places you always use to compare us to. Plus they don't have ultra overpriced shit to put on a plate and sell to you for 25 Euros, right?

You're an ignorant blowhard. Thankfully you have no role in society beyond drinking beer and lying on your couch, so your negative impact on the world is minimized. Thank God!
India has an insane wealth gap. The U.S. has an insane wealth gap, and it is getting worse. We are turning into India, and the Republicans response is to keep implementing policies to increase the gap.
No visit necessary, Copernicus, just the ability to think. You're an idiot of biblical proportions. I can't even argue with you on here anymore, because you are too stupid to even know what I'm saying, much less try to come up with an argument in response.
I get what you're saying. The wealth gap makes people suffer, just like eons ago, and it isn't anything new. We will all benefit if we redistribute everyone's wealth and eliminate people's right to property in America. It's an easy concept to understand. I disagree with it vehemently as the only people I owe anything to are my family. Not people on the other side of the globe, much less people here that may be poor, but have a myriad of social services that already exist. In terms of a level of compassion, to suggest that I much less any one else on this board, wouldn't help someone in my family or immediate social circle is asinine. I just refuse to accept a system based on "popular party-endorsed" theft.

Why don't you bitch about welfare fraud anymore like you used to?
 
Originally posted by Malthus Doctrine:
I get what you're saying. The wealth gap makes people suffer, just like eons ago, and it isn't anything new. We will all benefit if we redistribute everyone's wealth and eliminate people's right to property in America. It's an easy concept to understand. I disagree with it vehemently as the only people I owe anything to are my family. Not people on the other side of the globe, much less people here that may be poor, but have a myriad of social services that already exist. In terms of a level of compassion, to suggest that I much less any one else on this board, wouldn't help someone in my family or immediate social circle is asinine. I just refuse to accept a system based on "popular party-endorsed" theft.

Why don't you bitch about welfare fraud anymore like you used to?
It isn't anything new. It has already happened in the US previously, and obviously a good percentage of people didn't learn anything.

Nobody is asking for full-blown wealth distribution and confiscation of property. That's an asinine argument and assumption.
Compassion isn't the issue, either. A simple cause and effect relationship is at play. The wider the income gap becomes, the more crime will rise, the lower classes will become even less educated than they are now, more people will be homeless, people will be unable to retire, etc. The standard of living for everyone will go down. Again, this has already happened, and there are still many examples around the world today.

Wealth distribution must get better or we will all suffer. And, it is painfully obvious that the people gaining, and holding, the most wealth aren't going to help distribute it better voluntarily.

I'm not even asking for anything, or trying to provide a solution. I'm just pointing out that since Reagan's tax cuts, things have been well on their way to shit. I used to be a huge supporter of the supply-side theory... until I read and realized that it was all crap and doesn't hold up under scrutiny. The wealth isn't trickling down, and it needs to.


Why don't I bitch about welfare fraud anymore? Why should I bitch about a poor person getting a steak or crab legs while Lockheed Martin takes over $3.5 Billion in taxpayers dollars to fund their underfunded pension (to the tune of over $10 Billion) while they are collecting profits over $20 Billion? This is, of course, before they decide to freeze their employees pension, and tell them they need to make sacrifices to remain competitive.
Boeing, Raytheon, GE, etc., etc., etc... they are all doing it.
Who gives a damn about poor people while our corporations are taking much, much, more and screwing their employees in the process.
 
saez-zucman-wealth.png


Hmmmm... I wonder what happened the last time wealth distribution was this poor....
 
Originally posted by ChrisKnight06:
BUY GOLD
Posted from Rivals Mobile
Couldn't have said it better myself, although I actually prefer silver. Have you ever seen an asset class as loathed as gold is today in the West? Great contrarian indicator. Even the great ones like Louise Yamada are still predicting a continuation of the bear market for precious metals. So while the East quietly soaks up all the excess bullion and ETF's like the GLD keep dumping what little physical gold they actually have. Bear raids are rapidly met with aggressive buying. COT reports are starting to turn favorable again.

Hot money from the West is starting to flow into precious metals again, and the short squeeze hasn't even started yet! When you have the East and the West competing for the same tiny amount of physical bullion that actually exists, look out, the paper gold shell game suppression scheme will be exposed.

Agree about real estate too. Any 'hard' asset will do better than paper in the long run.

This post was edited on 1/20 5:08 PM by Boston.Knight
 
Originally posted by chemmie:


Originally posted by UCFKnight85:

Originally posted by chemmie:



Originally posted by Knight_Light:
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
The right-wing in this country is perfectly content with us turning into India with a large lower class, small but extremely wealthy upper class, and small middle class that should just shut up and be content.

We should be happy there are jobs at all!
I challenged you before to actually travel to India, to see how utterly f*cking stupid your comment was, but I know you won't. You're a pussy and afraid to actually see these places you always use to compare us to. Plus they don't have ultra overpriced shit to put on a plate and sell to you for 25 Euros, right?

You're an ignorant blowhard. Thankfully you have no role in society beyond drinking beer and lying on your couch, so your negative impact on the world is minimized. Thank God!
India has an insane wealth gap. The U.S. has an insane wealth gap, and it is getting worse. We are turning into India, and the Republicans response is to keep implementing policies to increase the gap.
No visit necessary, Copernicus, just the ability to think. You're an idiot of biblical proportions. I can't even argue with you on here anymore, because you are too stupid to even know what I'm saying, much less try to come up with an argument in response.
Do you really think wealth gap is applicable to compare 2 different countries? That's an idiotic stance.

Who gives a shit what the wealth gap in the US is? The fact still remains that the middle class in America lives like the 1% in India. Would you rather have it so that everyone in America was poorer but the "Wealth Gap" was much less? Would that suddenly make you happy?

Does a millionaire making only 10% vs 20% in the market really impact how much you make? And if you think so, may I ask how you came to be so f*cking dumb?
 
Originally posted by UCFKnight85
Do you really think wealth gap is applicable to compare 2 different countries? That's an idiotic stance.

Who gives a shit what the wealth gap in the US is? The fact still remains that the middle class in America lives like the 1% in India. Would you rather have it so that everyone in America was poorer but the "Wealth Gap" was much less? Would that suddenly make you happy?

Does a millionaire making only 10% vs 20% in the market really impact how much you make? And if you think so, may I ask how you came to be so f*cking dumb?
Exactly why is it idiotic to compare the wealth gap of two countries, especially when one country is quickly moving in the direction of the other? Should I compare our wealth gap to the reproductive rates of Emperor Penguins instead?

Your first sentence of the second paragraph is all anyone should need to hear. You're simply ignorant. Why should we give a shit about the wealth gap? I've already given a laundry list of reasons in different threads. Most important: we've been here before and it led directly into the Great Depression. Increased crime, lack of upward mobility, lack of education, crumbling infrastructure...to the eventual rise of unions, much higher taxes, and government programs, all are results. (I don't provide actual proof, because you should know about the early 1900's. You don't, I know, but you should.)

Your second sentence in your second paragraph is bullshit. This is common for you. Please provide proof, or at least some allusion to proof, when making these kind of statements.

Your third sentence is more bullshit. The alternative to our current state isn't "everyone will be poorer." From WW2 until 1980, everyone wasn't poorer. Another dumb statement with no basis.

Basically, everything you write is bullshit, you're ignorant, you're incapable of learning, and you try to pass things off as fact with absolutely no proof.
 
I honestly want to hear what this dildo thinks will solve this "problem". Tax the wealthy at an even higher rate? You have a great example of that in the Northeast where some cities instituted a millionaire's tax. Guess what happened? Millionaires moved away!

Is that your solution? Tax the cap out of the wealthy job creators so they take their services elsewhere? You're right, that would turn us into India!
Posted from Rivals Mobile
 
Originally posted by C-MontCityKnight2:
Don't you work for Lockheed Martin? Pretty ballsy to trash the very company that enables you to be in the 1% world wide.
Posted from Rivals Mobile
Nope.
Left in November. Got a bigger raise by leaving than I had in the last 8 years combined, including promotions. Better benefits, better work environment, and I'm no longer responsible for bombing little brown children and milking taxpayers for every cent.
 
Originally posted by C-MontCityKnight2:
I honestly want to hear what this dildo thinks will solve this "problem". Tax the wealthy at an even higher rate? You have a great example of that in the Northeast where some cities instituted a millionaire's tax. Guess what happened? Millionaires moved away!

Is that your solution? Tax the cap out of the wealthy job creators so they take their services elsewhere? You're right, that would turn us into India!
Posted from Rivals Mobile
I'm honest enough to say I'm not sure how to solve it right now. But, I sure as hell know you can't solve it by denying a problem even exists.
 
Originally posted by chemmie:

Originally posted by Knight_Light:
Never seen a poor person hire hundreds if not thousands of employees.

Thank you rich people for hiring/investing in people while trying to grow your own wealth as well.
The right-wing in this country is perfectly content with us turning into India with a large lower class, small but extremely wealthy upper class, and small middle class that should just shut up and be content.

We should be happy there are jobs at all!
The progressive movement which totally controls the left and much of the Right as well, is all about an elite class ruling over the lesser classes. There is a reason for bigger gov't with more and more power, it is not to enrich the lower classes it is to rule over them Hillary told us who she and most Washington insider's are, when she said she is a 1930's style progressive.

They pushed abortion to keep black, uneducated, and physically and mentally ill out of society and life. The pushed for more power and laws giving power to the elites while reducing $$$, freedom, and rights of the poor and under privileged.

The wealthy class (Right and Left) are more than content turning us into not India, but Russia or Cuba.
 
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