SoylentNews is people
SoylentNews
posted by
martyb
on Saturday January 27 2018, @12:43PM
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.
The 1% grabbed 82% of all wealth created in 2017
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.
Oxfam says the trend shows that the global economy is skewed in favor of the rich, rewarding wealth instead of work.
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
This discussion has been archived.
No new comments can be posted.
Only 1% of World's Population Grabbed 82% of all 2017 Wealth
|
Log In/Create an Account
| Top
| 261 comments
| Search Discussion
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
He who enters his wife's dressing room is a philosopher or a fool.
-- Balzac
(Score: 2) by Runaway1956 on Monday January 29 2018, @02:47AM (3 children)
I guess someone should define "stagnation" then. I made increasing amounts of money, year after year, right up until the middle of the '90's. Unions were successfully negotiating wage and benefits increases for their members, up until about '83 or '84, when the steel and iron industry very publicly moved some of it's operations out of the country. Bill Clinton took credit for "improving the economy" in the 90's. It wasn't until about '97 or so that the crap really started hitting the fan. I realize that various segments of the economy were hit sooner, and others later, but overall, I think that things stayed pretty good until the housing bubble burst. The combination of the housing bubble, and illegal alien immigration is what hit me, personally. Others may have very different perspectives. The dotcom bubble, for instance, had zero effect on me - that was just something that I read about. It put no one out of work, that I knew.
A MAN Just Won a Gold Medal for Punching a Woman in the Face
(Score: 1) by fustakrakich on Monday January 29 2018, @08:08PM (2 children)
Sorry, didn't mean "false". More correctly it's personal. I was comfortable with lots of perks during that time too.
illegal alien immigration is what hit me, personally.
I'm interested in how specifically that happened.
La politica e i criminali sono la stessa cosa..
(Score: 2) by Runaway1956 on Monday January 29 2018, @11:12PM (1 child)
I worked construction for much of my life. I'm a multicraft guy - a full fledged journeyman carpenter, who can do concrete, rodbusting, some limited welding, pipefitting, and field engineer work. Around '97 or '98, I was in need of a job, and did some semiserious job hunting. One of my leads took me to Dallas. I walked out on the jobsite, surrounded by mostly Mexicans. Found the super's trailer, went in, and introduced myself.
I was told bluntly, that they weren't hiring any white boys. The super told me flat out that he can hire two, or even three Mexicans for the wages that I expected to get. I suppose that I gave him a strange look, because he got defensive, and told me that was pretty much the same story all around Dallas. I wasn't going to find a journeyman's wages when there was so much cheap labor flooding the market.
That wasn't the end of my construction work, but, wages did stagnate. There were no more raises, I no longer got phone calls asking me if I was a available.
People in the north east US, and the east coast, can make claims forever that the Mexicans are just doing the work that Americans are to lazy to do. But, I know better, because it affected me directly. They don't just pick vegetables, and mow lawns. Mexicans aren't mules, after all - they are working men and women, like myself. They can learn any skill that I can learn. They can learn any skill that any member of this forum can learn. They would be serious competition on a level playing field. With the unfair pricing of labor - we can't compete.
A MAN Just Won a Gold Medal for Punching a Woman in the Face
(Score: 1) by fustakrakich on Tuesday January 30 2018, @01:46AM
Illegal aliens, illegal drugs... the market demands it all. Capitalism doesn't respect the border any more than migrating animals do.
La politica e i criminali sono la stessa cosa..