Stories
Slash Boxes
Comments

SoylentNews is people

Only 1% of World's Population Grabbed 82% of all 2017 Wealth

posted by martyb on Saturday January 27 2018, @12:43PM   Printer-friendly
from the I-got-mine!-And-Yours.-And-Yours.-Annnnnd-yours,-too. dept.

canopic jug writes:

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.

Original Submission

 
This discussion has been archived.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
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2) by mmcmonster on Saturday January 27 2018, @08:22PM

    by mmcmonster (401) on Saturday January 27 2018, @08:22PM (#629118)

    Index year = $10k
    Index year + 6 = $20k
    Index year + 12 = $40k
    Index year + 18 = $80k

    There's a doubling every 6 years (when you invest dividends and put the money in a low cost index fund such as VFIAX or VTSAX).

    That's the magic of compounding interest.

    This will dramatically overcome any inflation rates visible in the U.S.

    Starting Score:    1  point
    Karma-Bonus Modifier   +1  
    Total Score:   2