62 Elite People Have As Much Money As Poorest 3.6 Billion
Jan 26, 2016 12:53:30 GMT -6
Nugget and Glencairn like this
Post by Rickster on Jan 26, 2016 12:53:30 GMT -6
SOURCE:
I was surprised at first by this then it dawned on me this should be no surprise to anyone. Every financial system is rigged to make it easier for the rich to become richer. Who made, maintains, and monitors the financial systems of the world? So I guess it should really be no surprise. The real surprise is 62 members of the elite are equal to 3,600,000,000 people in terms of wealth. I am usually the first to stand up for the rich, they pay more than their fair share tax wise but this is really out of hand. There will always be rich people and poor people but I think we need more of a balance in the worlds financial systems. Some are willing to sacrifice everything for wealth some are willing to sacrifice everything for family placing wealth far down the list.
With the numbers of the Elite dwindling all I can say is boo hoo. But the debt they have created thus far has fallen to the little guy when things go sideways evidence of this has been proven by two administrations now.
Hold on to your hats folks, yes time will tell but everyone is predicting the samething. So we should ask ourselves is everyone wrong? Whats your gut tell you? Mine says have food, water, stored and do your best to prepare. Everything you buy today and store will be at a discount later when prices go through the roof.
"Did you know that the top 1% has more wealth than the rest of the planet combined? And just 62 ultra-wealthy members of the elite have as much money as the poorest 3.5 billion people on the entire planet.
These brand new numbers come from a shocking report that was just put out by Oxfam, and they show that income inequality continues to grow at a very rapid pace all over the world. As you will see below, the total wealth of the poorest half of the global population has plunged by 41 percent since 2010 while the wealth of the elite has continued to surge upward. The debt-based financial system that now has the entire planet in its grip funnels wealth to the very top, and the global elite are more than happy to hoard as much of it as they possibly can."
These brand new numbers come from a shocking report that was just put out by Oxfam, and they show that income inequality continues to grow at a very rapid pace all over the world. As you will see below, the total wealth of the poorest half of the global population has plunged by 41 percent since 2010 while the wealth of the elite has continued to surge upward. The debt-based financial system that now has the entire planet in its grip funnels wealth to the very top, and the global elite are more than happy to hoard as much of it as they possibly can."
"In our world, money is power, and the elite are continually becoming more powerful. The following comes from the Independent, and I think that these numbers truly speak for themselves…
Wealth inequality has grown to the stage where 62 of the world’s richest people own as much as the poorest half of humanity combined, according to a new report.
The research, conducted by the charity Oxfam, found that the wealth of the poorest half of the world’s population – 3.6 billion people – has fallen by 41 percent, or a trillion US dollars, since 2010.
While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion dollars to $1.76 trillion.
Back in 2010, 388 members of the elite had as much wealth as the poorest half of humanity. But since then that number has been steadily falling and now it is down to just 62. At this pace, Oxfam is projecting that in just a few years a single person will have as much money as the poorest half of the global population combined.
As I mentioned above, a big reason for this trend is the financialization of the global economy. All over the world, governments, businesses and individuals have been trained to binge on debt, and all of this debt is systematically impoverishing us. Whenever we borrow money, we always have to pay back more than we borrow, and this funnels wealth to the very top of the pyramid.
Since the last financial crisis, the total amount of debt in the world has absolutely exploded. At this point it is sitting at more than 200 trillion dollars, and all of that debt enriches the ruling class. The more money they get, the more they are able to impose their will on the rest of us, and that is not a good thing."
Wealth inequality has grown to the stage where 62 of the world’s richest people own as much as the poorest half of humanity combined, according to a new report.
The research, conducted by the charity Oxfam, found that the wealth of the poorest half of the world’s population – 3.6 billion people – has fallen by 41 percent, or a trillion US dollars, since 2010.
While this group has become poorer, the wealth of the richest 62 people on the planet has increased by more than half a trillion dollars to $1.76 trillion.
Back in 2010, 388 members of the elite had as much wealth as the poorest half of humanity. But since then that number has been steadily falling and now it is down to just 62. At this pace, Oxfam is projecting that in just a few years a single person will have as much money as the poorest half of the global population combined.
As I mentioned above, a big reason for this trend is the financialization of the global economy. All over the world, governments, businesses and individuals have been trained to binge on debt, and all of this debt is systematically impoverishing us. Whenever we borrow money, we always have to pay back more than we borrow, and this funnels wealth to the very top of the pyramid.
Since the last financial crisis, the total amount of debt in the world has absolutely exploded. At this point it is sitting at more than 200 trillion dollars, and all of that debt enriches the ruling class. The more money they get, the more they are able to impose their will on the rest of us, and that is not a good thing."
"I talked about the nightmarish oil crash that we are witnessing in my latest article on The Economic Collapse Blog. This oil crash has pushed markets all over the world into bear market territory, and panic is spreading like wildfire. The following list from Wolf Richter shows just some of the major stock markets that have now fallen more than 20 percent from the peak…
France: -20.6 percent
Germany: -23.3 percent
Sweden: -24.0 percent
Singapore: -27.0 percent
Canada: -27.5 percent
Spain: -28.5 percent
Hong Kong: -32.7 percent
Brazil: -37.5 percent
China (Shanghai Composite): -43.7 percent
Italy: -45.1 percent
Saudi Arabia: -50.4 percent
If the damage stopped here, it would still be a major crisis. But at this point there are many analysts that are forecasting that this new crisis will ultimately turn out to be far worse than what we experienced in 2008. One of those analysts is: Albert Edwards of Societe Generale…
Albert Edwards, an analyst from french bank Societe Generale, predicts global deflation is going to wipe out 75 percent of the value from the S&P 500.
Edwards’ warning comes on the heels of last weeks drastic and ongoing devaluation of the Chinese currency, tanking oil prices, and major stock selloffs throughout the worlds markets.
In his stark investment note to clients Friday, Edwards blamed the present market turbulence on the Federal Reserve and its British and European central bank counterparts for introducing Quantitative Easing (QE) schemes to their markets, which first began the inflation in prices globally.
If Albert Edwards is right and we do see a 75 percent decline of the S&P 500, the global economy will plunge into a full-blown depression. Big financial institutions will implode left and right, and we will experience a “credit crunch” far greater than what we witnessed in 2008 and 2009. The banks that survive won’t want to lend to one another or to anyone else, and economic activity will grind to a standstill.
What that will mean for ordinary people is this – millions of jobs will be lost and millions of families will no longer be able to pay their bills. Poverty and homelessness will absolutely explode, and economic despair will be everywhere.
The elite will suffer too, but it is during times of great crisis that the elite make their boldest moves. They love to create order out of chaos, and they love to offer us “solutions” for problems that they originally had a hand in creating.
As bad as things are right now, the truth is that they are about to get a lot worse. And the eventual “solutions” that we will be offered will inevitably result in even more power and more money ending up in their hands.
The game is rigged and the elite are running the show.
But when the wheels of the bus come off this time, will the elite be able to retain control?
Only time will tell…
France: -20.6 percent
Germany: -23.3 percent
Sweden: -24.0 percent
Singapore: -27.0 percent
Canada: -27.5 percent
Spain: -28.5 percent
Hong Kong: -32.7 percent
Brazil: -37.5 percent
China (Shanghai Composite): -43.7 percent
Italy: -45.1 percent
Saudi Arabia: -50.4 percent
If the damage stopped here, it would still be a major crisis. But at this point there are many analysts that are forecasting that this new crisis will ultimately turn out to be far worse than what we experienced in 2008. One of those analysts is: Albert Edwards of Societe Generale…
Albert Edwards, an analyst from french bank Societe Generale, predicts global deflation is going to wipe out 75 percent of the value from the S&P 500.
Edwards’ warning comes on the heels of last weeks drastic and ongoing devaluation of the Chinese currency, tanking oil prices, and major stock selloffs throughout the worlds markets.
In his stark investment note to clients Friday, Edwards blamed the present market turbulence on the Federal Reserve and its British and European central bank counterparts for introducing Quantitative Easing (QE) schemes to their markets, which first began the inflation in prices globally.
If Albert Edwards is right and we do see a 75 percent decline of the S&P 500, the global economy will plunge into a full-blown depression. Big financial institutions will implode left and right, and we will experience a “credit crunch” far greater than what we witnessed in 2008 and 2009. The banks that survive won’t want to lend to one another or to anyone else, and economic activity will grind to a standstill.
What that will mean for ordinary people is this – millions of jobs will be lost and millions of families will no longer be able to pay their bills. Poverty and homelessness will absolutely explode, and economic despair will be everywhere.
The elite will suffer too, but it is during times of great crisis that the elite make their boldest moves. They love to create order out of chaos, and they love to offer us “solutions” for problems that they originally had a hand in creating.
As bad as things are right now, the truth is that they are about to get a lot worse. And the eventual “solutions” that we will be offered will inevitably result in even more power and more money ending up in their hands.
The game is rigged and the elite are running the show.
But when the wheels of the bus come off this time, will the elite be able to retain control?
Only time will tell…
