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Old 05-12-2018, 04:00 PM
 
Location: Sector 001
7,129 posts, read 5,944,806 times
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World's richest 1% grabbed 82% of all wealth created in 2017, Oxfam study finds

More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
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Old 05-12-2018, 04:01 PM
 
Location: 500 miles from home
27,240 posts, read 15,033,121 times
Reputation: 20852
Maga!@
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Old 05-12-2018, 04:11 PM
 
Location: The end of the world
314 posts, read 122,944 times
Reputation: 254
When they say %1 they are really saying people who invest in business where they are paying bills and employees, including goods and services. So really you need to calculate this "%1" bills they have to pay and then decided how much they are really worth. We are talking about a stagnate market
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Old 05-12-2018, 04:26 PM
 
2,240 posts, read 1,386,969 times
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Yes, people with income generating and/or appreciating assets tend to do better than people that blow their actively earned income on consumption and depreciating assets.
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Old 05-12-2018, 04:36 PM
 
Location: midvalley Oregon and Eastside seattle area
2,903 posts, read 1,346,132 times
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Many Wealthy tried to warn the Masses but the Masses ignored the warning and decided to make the Wealthy, wealthier.
It will get worse.
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Old 05-12-2018, 09:44 PM
 
5,221 posts, read 2,377,031 times
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Quote:
Originally Posted by stockwiz View Post
World's richest 1% grabbed 82% of all wealth created in 2017, Oxfam study finds

More than $8 of every $10 of wealth created last year went to the richest 1%.
That's according to a new report from Oxfam International, which estimates that the bottom 50% of the world's population saw no increase in wealth.
So, created wealth goes to those that create it. Iím OK with that. Arenít you?
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Old 05-13-2018, 07:07 AM
 
5,600 posts, read 4,206,197 times
Reputation: 10557
Just because you read something does not make it true. Before you swallow the line, it is best to question the source. In this case, the data is coming from a highly biased source. Oxfam International is a "charity" that collects money to fight poverty. We have no idea where they came up with these numbers but they clearly serve their purpose. I am also turned off when I read about the wealthy "grabbed" more. Clearly that is an attempt to sensationalize rather than to present the facts.


There is another problem with credibility for Oxfam. They reward their staff with extremely high salaries. Administrative and advertising costs eat up lots of the money contributed:


Oxfam spends 25% of its funds on wages and running costs | Daily Mail Online


I have no idea if poverty in the world is getting worse or better. It seems that the world economies have been doing well lately, but we also know that dictators and corrupt governments are common in much of the third world...and even in some first world countries. We do know that the standards of living in China and India and a great many other former third world countries have boomed.
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Old 05-13-2018, 08:18 AM
 
Location: Cebu, Philippines
2,168 posts, read 797,279 times
Reputation: 4337
Quote:
Originally Posted by TaxPhd View Post
So, created wealth goes to those that create it. Iím OK with that. Arenít you?
So you think if a tree grows, and a man points to it and tells a man with a saw to cut it down, and he sells the timber, and gives 20% to the logger, it is the man who pointed to the tree who created the wealth.
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Old 05-13-2018, 08:39 AM
 
Location: Tennessee
20,956 posts, read 15,275,811 times
Reputation: 23732
As long as I'm doing fine, I couldn't care what Bezos is doing.
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Old 05-13-2018, 08:46 AM
 
572 posts, read 448,737 times
Reputation: 890
Life has gotten better for me! I admit as a rather poor person I can't afford a house or health insurance. It is tough to turn around years of greed and incompetence. by several past administrations. Our last President pushed that whole class and race warfare thing to death. The great divider! he sure did some damage to race relations and our healthcare system.
Everyone should consider being prepared as possible if the bottom falls out.
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