Common Dreams reports
The world's richest 1 percent now own more wealth than [the remaining] 99 percent combined. This finding comes from Credit Suisse's Global Wealth Report for 2015, [redirects to a PDF] 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 [richest] 1 percent now hold 50.4 percent of all the world's household wealth.
Credit Suisse's findings are in line with Oxfam's prediction that global wealth inequality is only becoming greater. Last January, we predicted that the richest 1 percent would capture more than half of all household wealth by 2016. It looks like our prediction was right, but that we were too conservative, since it has happened a year early. Alas, our forecast was confirmed, but it's nothing to celebrate.
When you look at the very top of the global wealth pyramid, the situation is much more alarming. When we first calculated in January 2014, the 85 richest individuals own more wealth than the poorest half of the planet. This trend has also worsened since that time. Last January, it was down to 80 people.
The implications of rising extreme wealth inequality are greatly worrying. The highly unbalanced concentration of economic resources in the hands of fewer and fewer people impacts social stability within countries and threatens security on a global scale. It makes poverty reduction harder, threatens political inclusion, and compounds other inequalities.
(Score: 4, Insightful) by Anonymous Coward on Sunday October 25 2015, @05:12PM
> He is technically correct.
Yes, a technically true fact that doesn't address the point, instead distracts from it. I like to call such things "true lies."
> I got a feeling some income redistributors won't be happy till we all live in mud-huts and spread cow-shit all over our bodies
That's on you, not them. It doesn't even pass the laugh test. Sounds like it comforts you to believe that so you won't have to face their actual issues. Just like people who use the terms feminazi and SJW.
(Score: 1, Touché) by Anonymous Coward on Sunday October 25 2015, @09:12PM
Just like people who use the terms feminazi and SJW.
Or people who carelessly throw around terms like "patriarchy" and "misogyny".
(Score: 0) by Anonymous Coward on Sunday October 25 2015, @10:27PM
> Or people who carelessly throw around terms like "patriarchy" and "misogyny".
You know, those words have actual legitimate meanings while feminazi and SJW were created by people to let themselves brush off criticism of things they liked.