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

posted by martyb on Saturday January 27 2018, @12:43PM   
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.

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Original Submission

• Re:Oh Wise Sages... (Score: 2) by mmcmonster on Sunday January 28 2018, @01:58PM

  by mmcmonster (401) on Sunday January 28 2018, @01:58PM (#629440)

  DJIA is not a normal index fund. It's based on the market price of the included stocks and is not market cap weighted. Most other index funds are market cap weighted.

  I can't even find a mutual fund that tracks it. Only thing I can find are a couple ETFs.

  DIA increased 2.6 fold over the past 10 years with dividends re-invested.

  Reference: https://www.portfoliovisualizer.com/backtest-portfolio?s=y&timePeriod=4&startYear=2007&firstMonth=1&endYear=2017&lastMonth=12&endDate=01%2F27%2F2018&initialAmount=10000&annualOperation=0&annualAdjustment=0&inflationAdjusted=true&annualPercentage=0.0&frequency=4&rebalanceType=1&showYield=false&reinvestDividends=true&symbol1=DIA&allocation1_1=100 [portfoliovisualizer.com]

  (Sorry for using a different website. Morningstar doesn't give good chart data for ETFs)

  Parent

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