World’s richest 1% bagged 82% of global wealth in 2017,while poorest half got nothing

Nov 24, 2016
1,376
283
Victoria, BC
#1
World’s richest 1% bagged 82% of global wealth in 2017, while poorest half got nothing – Oxfam

The inequality crisis is worsening, according to a new study by global charity Oxfam, which found that the world’s richest 42 people own the same amount of wealth as the poorest 50 percent worldwide.

The annual report showed that 2017 saw the biggest increase in the number of billionaires in history, with new ones created at a rate of one every two days. Their wealth has increased by 13 percent a year on average in the decade from 2006 to 2015.

The fortunes of the super-rich increased by $762 billion in just 12 months to March 2017 which is enough to end extreme poverty seven times over. Nine out of 10 of the world's 2,043 billionaires were men.

“Eighty two percent of the new wealth created has gone to [the] top 1 percent, while 0 percent has gone to the world’s poorest 50 percent,” said the report.

According to Mark Goldring, chief executive of Oxfam, the statistics signal that “something is very wrong with the global economy.”

“The concentration of extreme wealth at the top is not a sign of a thriving economy but a symptom of a system that is failing the millions of hard-working people on poverty wages who make our clothes and grow our food,” he said.
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Likes: 1 person
Aug 2, 2017
431
148
Medway Towns, Kent
#3
Its been the same since some ape a gazzilion years ago smacked is mate over the head with the arse bone of a giraffe and nicked his bit of dead squirrel.... nothings changed
 
Mar 5, 2011
746
159
Rhondda, Cymru
#4
Its been the same since some ape a gazzilion years ago smacked is mate over the head with the arse bone of a giraffe and nicked his bit of dead squirrel.... nothings changed
No - a servile ape yawned then too, before licking its master's arse!
 
Nov 24, 2016
1,376
283
Victoria, BC
#10
Its been the same since some ape a gazzilion years ago smacked is mate over the head with the arse bone of a giraffe and nicked his bit of dead squirrel.... nothings changed
It is interesting that in the English-speaking world books and movies about human evolution tend very much to stress competition and violence in the societies of Original Peoples, while in other countries much more stress is laid upon co-operation and friendly interaction.

Perhaps "nature red in tooth and claw" says more about economic and social conditions in countries run by billionaire oligarchs than it does about the nature of archaic societies.
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Nov 24, 2016
1,376
283
Victoria, BC
#12
Interesting. I consider you one of the most unfriendly people I have ever encountered. You seem to hate everyone.
Argumentum ad personem --- a logical fallacy.

It just seems that way to you because, like so many Americans, you are very defensive, tetchy, without a sense of humor, and oblivious to the finer points of satire.
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Likes: 1 person
Jan 4, 2018
401
162
Arkansas
#16
Argumentum ad personem --- a logical fallacy.

It just seems that way to you because, like so many Americans, you are very defensive, tetchy, without a sense of humor, and oblivious to the finer points of satire.
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Just pointing out an very obvious contradiction in your statements.
 
Likes: 1 person

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