RICHEST 1% OWN 50% of WORLDS WEALTH – Are You Part of the Worlds Wealthiest 50% ?
World wealth has reached a record $263 trillion but is concentrated in fewer hands. The richest 1 percent have accumulated more wealth, and own almost 50 percent of it, which could trigger recession, according to a new report by Credit Suisse.
“…The richest 1% of Americans collected a greater share of household income last year than at any time in the last century, according to a new analysis of IRS data going back to 1913. The wealthiest Americans took a hit during the recent financial crisis, with their wealth plummeting 36% between 2007 and 2009. But since then, the net worth of the flushest among us has rebounded sharply, buoyed by rising corporate profits and stock prices. In 2012, 19.3% of all household income in the U.S. went to the top 1% of earners, their greatest share since 1928. Incomes for the top 1% rose nearly 20% last year, while incomes for the remaining 99% increased by just 1%…”.* The Young Turks host Cenk Uygur breaks it down.
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The richest 1% of the world’s population are getting wealthier, owning more than 48% of global wealth, according to a report by Credit Suisse. Report by Sarah Kerr.
The InterContinental Davos luxury hotel in the Swiss mountain resort of Davos. Oxfam report found people in countries around the world believe that the rich have too much influence over the direction their country is heading. Photograph: Arnd Wiegmann/REUTERS
The world’s wealthiest people aren’t known for travelling by bus, but if they fancied a change of scene then the richest 85 people on the globe – who between them control as much wealth as the poorest half of the global population put together – could squeeze onto a single double-decker.
The extent to which so much global wealth has become corralled by a virtual handful of the so-called ‘global elite’ is exposed in a new report from Oxfam on Monday. It warned that those richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world’s population.
The wealth of the 1% richest people in the world amounts to $110tn (£60.88tn), or 65 times as much as the poorest half of the world, added the development charity, which fears this concentration of economic resources is threatening political stability and driving up social tensions.
Richest 1% will own more than the other 99% put together by next year Subscribe My Channel! .Oxfam warned the ‘explosion in inequality’ is holding back the fight against global poverty at a time when more than a billion people still live on less than $1.25 (83p) a day.
Almost 200 people have been killed and tens of thousands of hectares of farmland have been destroyed by floods in the southern African nation of Malawi.A further 100,000 people have also been displaced and the situation is set to get worse, with Malawi’s Department of Meteorological Services warning that heavy rains may continue.Al Jazeera’s Catherine Soi reports from southern Malawi’s Mulanje district where farmers have lost all their crop.
Extreme inequality is not accidental or inevitable – it’s the result of deliberate policy choices by people in power. Together we must even it up and stop inequality from undermining our fight against poverty. Join our campaign now to reduce the gap between the rich and the rest: http://www.oxfam.org.uk/even-it-up
The gap between rich and poor is out of control. Oxfam’s ‘Even It Up’ campaign aims to do something about it.
Join our ‘Even It Up’ campaign and be in at the start of something special – a growing global movement demanding a fairer world and an end to inequality.
Extreme inequality is threatening to undo much of the progress made over the past 20 years in tackling poverty. But the situation is not inevitable – it’s the consequence of political and economic choices. Things don’t have to be this way.
Together, we can end extreme inequality
We can even things up if we all demand that governments across the world make the right economic and political decisions.
We can change the rules on tax to make sure the richest pay their fair share.
We can demand more spending on public health and education to give poor people a fighting chance.
We can demand fair wages for everyone.
We can make sure the poorest people have a voice, and that it is heard by those in power.
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