Jump to content
R0CKnR0LLA

The Richest 1% Now Own More Than 50% of the World’s Wealth

Recommended Posts

http://fortune.com/2017/11/14/credit-suisse-millionaires-millennials-inequality/

Quote

The richest 1% now owns more than half of all the world’s household wealth, according to analysts at Credit Suisse. And they say inequality is only going to get worse over the coming years, with millennials having a particularly tough time.

The Swiss bank released its latest Global Wealth Report on Tuesday, together with a statement that contained the immortal phrase, “The outlook for the millionaire segment is more optimistic than for the bottom of the wealth pyramid.”

...

Essentially, millennials are more likely to be unemployed or earning less, priced out of the housing market, and unable to get a pension. Baby boomers have most of the wealth and the housing, so “millennials are doing less well than their parents at the same age.”

Millennials may be better educated than earlier generations, but Credit Suisse’s researchers said they expected only a “minority of high achievers and those in high-demand sectors such as technology or finance to effectively overcome the ‘millennial disadvantage.'”

....but the super rich need huge tax breaks, right?

Edited by R0CKnR0LLA
  • Pie 2

Share this post


Link to post
Share on other sites


Their percentage will keep growing unless new sources of wealth are found. And that's the way it has gone since the beginning of time.

It's the biggest reason there is such a push against alternative energy... it takes the production of energy out of the hands of a well-invested few and starts democratizing it again. In NC, it's not that Duke Energy doesn't want solar power or wind power, they just want to be the only ones generating it.

Share this post


Link to post
Share on other sites
23 minutes ago, Khyber53 said:

Their percentage will keep growing unless new sources of wealth are found. And that's the way it has gone since the beginning of time.

It's the biggest reason there is such a push against alternative energy... it takes the production of energy out of the hands of a well-invested few and starts democratizing it again. In NC, it's not that Duke Energy doesn't want solar power or wind power, they just want to be the only ones generating it.

that is the reason Climate Change is touted... it's a power and money grab...confirmed Thx.The science of wealth re distribution ,but not to the poor  but a warring faction of the elites...

  • Poo 1

Share this post


Link to post
Share on other sites

Honest question, not trying to troll or start a flame war. As long as they acquired their wealth legally, what's wrong with them being wealthy?

Share this post


Link to post
Share on other sites




9 minutes ago, ImaginaryKev said:

People being rich is not what the issue is here, Saha

who is rich is the issue...

  • Poo 1

Share this post


Link to post
Share on other sites
15 minutes ago, ImaginaryKev said:

People being rich is not what the issue is here, Saha

Than please, explain.

Share this post


Link to post
Share on other sites
50 minutes ago, Saha said:

Honest question, not trying to troll or start a flame war. As long as they acquired their wealth legally, what's wrong with them being wealthy?

Nothing wrong with being wealthy. They key is to have that type of wealth more evenly distributed from top to bottom. As an example that everyone flocks to...Walmart should pay employees a living wage and the Waltons can continue to be billionaires. 

  • Pie 1

Share this post


Link to post
Share on other sites
2 hours ago, Saha said:

Honest question, not trying to troll or start a flame war. As long as they acquired their wealth legally, what's wrong with them being wealthy?

The fact that they use that wealth to influence politicians in order to make themselves more wealthy at the cost of the "middle class" and literally everyone else. The fact someone who inherits their wealth will have income taxed at a lower rate thru capital gains versus someone who earns a salary and gets taxed at the ordinary rates.

  • Pie 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now




×