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This discussion has been archived.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: 1) by khallow on Sunday January 28 2018, @07:13PM (3 children)

    by khallow (3766) Subscriber Badge on Sunday January 28 2018, @07:13PM (#629543) Journal
    Thank you for those corrections and your willingness to put in the effort. It still remains that the stock market has performed weaker for a significant period of time recently, but I was wrong in my statements and the effect is much weaker than I had thought.

  • (Score: 2) by mmcmonster on Monday January 29 2018, @12:27AM

    by mmcmonster (401) on Monday January 29 2018, @12:27AM (#629649)

    Thanks for at least keeping an open mind. My hope is to educate some people on using index funds to invest.

    The fact of the matter is, while any particular year can be fantastically good or horrible, over the long term the market gets over 6% return per year.

    The key to making that yourself is to use low cost index funds and to keep your money in the funds and not take it out when the going gets rough, because the market WILL go bad for years at a time. But time in the market is more important than money in the market.

    Read a good forum, such as https://www.bogleheads.org/forum/index.php [bogleheads.org] or read a short primer such as If You can by Bernstein: https://www.etf.com/docs/IfYouCan.pdf [etf.com]

  • (Score: 2) by mmcmonster on Monday January 29 2018, @12:36AM (1 child)

    by mmcmonster (401) on Monday January 29 2018, @12:36AM (#629653)

    The other thing to remember:

    If you are using a fund manager, remember that (by definition) the average fund manager does as well as the total market, prior to taking out his fees (also known as the Expense Ratio).

    Which means that the average fund manager does worse than the market when you consider his fees.

    You may think that you have an above average fund manager. It may be true ... but... would you bet that he will be above average for the life of you investing with him? And if he retires, would you bet that the person replacing him would be above average as well? Better to use an index fund with a very low Expense Ratio.

    • (Score: 1) by khallow on Monday January 29 2018, @02:20AM

      by khallow (3766) Subscriber Badge on Monday January 29 2018, @02:20AM (#629671) Journal

      You may think that you have an above average fund manager.

      First time I invested in a fund, I found that out. They had a great year and then several subpar ones right after I joined. I've since learned that even for relatively competent funds a great predictor for a bad year is having an extremely high year or two before due both to investments tending to rise in bursts and the "me too!" effect from new people piling on the train.