The world’s richest 1 percent now own more wealth than all of the bottom 99 percent combined. This finding comes from Credit Suisse’s Global Wealth Report for 2015, released last week. Last year, Credit Suisse found the richest 1 percent of adults owned 48 percent of global wealth. According to the new report, the top 1 percent now hold 50.4 percent of all the world’s household wealth.
What I find most important about this article by Mr. Galasso is that he shows the problem of wealth inequality to be a global scourge. This should disabuse the dingdongs who relentlessly turn every problem into the matter of how U.S. (or lately, Canadian) voters vote into what's ACTUALLY going on. That's why I have been stating that "the next revolution will be global in scope. And it will involve a major shift in Collective Consciousness." That shift, by the way, is already beginning:
"What’s encouraging is that citizens from rich and poor countries are pushing back. There seems to be a global zeitgeist that capitalism has descended from being about competition and innovation to monopoly and corporatism. The latter are responsible for the massive inequalities we are grappling with today, especially the unfathomable concentration of the world’s wealth among an incredibly small number of people."
Although they own 50% of ALL wealth, the 1% own a far greater percentage of the world's politicians, thereby giving them the leverage they need to continue their wealth acquisition to the point that the 99% own nothing.
Thank you Bernie for bringing this most urgent problem to light.
This post was flagged by the community and is temporarily hidden.
It actually worse than this article suggests and exponentially so.
In such studies they use lists such as that provided by Forbes wherein the richest man in the world is a Bill Gates or a Carlos a Slim at 60 billion.
The truly wealthy like Jacob Rothschild or the Queen of England hide their true wealth.
Each of them controls trillions and are 100 times and more wealthier then paupers such as gates.
These "wealthiest" lists are a ruse for sure. (Anagram power!) Seriously, the thinking person steps back and realizes that Beyonce is for some, Bill Gates is for a more select group and then...
I would'nt worry too much. It's an inevitable trajectory at the end of empires and civilizations. This civilization will do what every other one has done and collapse. The big difference with ours is the whole planet is Easter Island and there's nowhere to escape to. We cannot escape the exponential equation. If the planet is like a bottle with bacteria doubling every minute and it's full at the end of one hour, it's only half full at one minute to go, a quarter full two minutes away.
At 3.5% growth we double every 20 years. The IMF has forecast 3.5% growth into the future. It can't happen. The resources we need for food and shelter and entertainment and wars can only go so far on this finite planet of ours.
What the 1% are doing is speeding up the process so we have less and less time to enjoy,or not, what we have.
The obscenity of these statistics confirms the corruption of our politics by big-money, candidates, elections, legislation bought by the uber-wealthy. The subservience of our politicians of both parties is a giant cluster-farce of corruption and servile kowtowing to the ultra-wealthy. The ultimate outcome of this ongoing criminal enterprize is revolution in one form or another - as soon as the 99% realize their and their childrens lives and labor are being used to accumulate such wealth and their future in debt to greed........brought to you by your department of redundancy department......