1300 Folks Own 94% of Earth's Wealth

submitted by EndlessSunflowers from i.imgur.com

all 43 comments
sorted by:
top
newinsightfulfun

[–]Druullus 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (20 children)

Is it all the wealth? Is wealth liquid?

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (19 children)

It doesn't have to be liquid.

Yes - estimated total wealth.

94% is a recent estimate.

More info on wealth inequality - though in 2018:

https://www.bbc.co.uk/news/business-42745853

[–]Bigs 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (16 children)

British Bullshit Corp? Hard pass.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (15 children)

Interesting that so many on Saidit will not consider news content from an MSM source, and have instead been brainwashed into not trusting anything from a source that is nonetheless trusted by the non-brainwashed portion of the public.

[–]Akali 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (5 children)

I think they are too lazy to check. BBC have push news without sources in the past so they assume it's still the case.

That being said, this time around they give information on the data from the credit swiss global wealth data book.

https://www.credit-suisse.com/about-us/en/reports-research/global-wealth-report.html

And a quick look at the data show that it include the stock market cap which is problematic because if besos and buffet start mass selling their assets, they'll crash the market and the market will react in fear and mass sell as well which will reduce the final value of their wealth.

So while the data is accurate, the analysis isn't because it assume that those rich people live in a vacuum where they can turn their assets into cash without losing value.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Very interesting. It's also another concern we would have for supporting rampant income inequality. Companies should be required to share a small proportion of their profits with their employees (more than they do now).

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

They do share, their employees receive regular wages.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

If those wages are commensurate with an increase in profits, then that is the kind of sharing I refer to.

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Accurate how?

[–]Akali 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

The data is from the Global wealth report from the credit swiss global wealth data book by Anthony Shorrocks, James Davies and Rodrigo Lluberas from the london school of economics who are known economist who have publish many peer reviewed reports.

The article and the analysis it provide aren't peer reviewed, only the data they reference.

[–]Bigs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (8 children)

The brainwashed are those that trust mainstream media.

I grew up with the BBC; I put it among the top 5 reasons I left the UK.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (7 children)

I am referring to content, not so much the MSM source. The brainwashing is in the interpretation of the content, and the encouragement to interpret that content by propaganda sites.

[–]Bigs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (6 children)

I don't bother looking at the content when the source is so biased and anti-me.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (5 children)

anti-me?

I wouldn't take any of this personally.

All news media is biased. For example:

https://www.marketwatch.com/story/how-biased-is-your-news-source-you-probably-wont-agree-with-this-chart-2018-02-28

Understanding the content is up to you.

[–]Bigs 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (4 children)

I'm a cis-gender straight white male that believes in freedom.

The mainstream media fucking hates me.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

I'm pretty sure you are in the majority, and the MSM very much speaks from the perspective of your demographic much better than to the minority demographic.

[–]Druullus 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Should the 1 300 sell the means of production they manage/own/control etc? Is there someone more capable of managing it? Where would the buyers get the money to pay them? Does the 1 300 consume 94% of the goods/services, do they accrue 94% of the expenses?

In 2020 the 2,095 billionaires were supposedly worth about $8 trillion: https://www.forbes.com/billionaires/

The market capitalization of the publicly traded companies worldwide was supposedly about $70 trillion in 2018 (is this all the wealth in the world): https://data.worldbank.org/indicator/CM.MKT.LCAP.CD?end=2019&start=1975&view=chart

The global GDP was supposedly about $85 trillion in 2019: https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)#Lists

In 1995 the US federal/state governments owned about 35% of the land in the US. The US is supposedly the least communitarian country, how much does other countries governments own? https://www.nrcm.org/documents/publiclandownership.pdf

Are the "3.6bn people who make up the poorest half of the world" mostly children/the demented etc? Should they own/control/manage etc the means of production ?

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Thanks for this.

[–]jet199 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (0 children)

If you're one of those guys reading this...

...please donate to Vancouver Rape Relief.

https://rapereliefshelter.bc.ca/donate/

[–]Drewski 3 insightful - 2 fun3 insightful - 1 fun4 insightful - 2 fun -  (1 child)

If you want to persuade them to do so that's fine. But forcing someone else to pay your bills is violent coercion and theft.

[–]fishbox 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

oh those poor billionaires.

[–]EndlessSunflowers[S] 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (14 children)

Just like how soulless big banks make $30 Billion from overdraft fees
How exactly are the poor people with no money supposed to pay????

[–]Tarrock 5 insightful - 2 fun5 insightful - 1 fun6 insightful - 2 fun -  (13 children)

Do these poor people have iphones with expensive smartphone plans?

Netflix?

Disney +?

Do they eat out often?

[–]jet199 4 insightful - 5 fun4 insightful - 4 fun5 insightful - 5 fun -  (7 children)

My cousin was paying overdraft fees every single month.

I looked through her account and she had monthly payments going out to charity which if she stopped would keep her just in the black.

She told me she couldn't stop them because she feels privileged and when she thinks about all the poor struggling people it makes her feel too guilty.

I told her she is one of those poor people and always will be until she starts saving.

She still refused. She still goes into the red every month and has no savings.

She's a teacher.

[–]Tarrock 4 insightful - 4 fun4 insightful - 3 fun5 insightful - 4 fun -  (3 children)

This is why you don't give women the right to vote.

[–]Akali 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Stupidity isn't limited to one gender. In fact, when you look at IQ chart, while there's more really smart guy then there are really smart women, there's also more really stupid guy then there are really stupid girl.

[–]jet199 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

Accept most woke bros are doing exactly the same thing then crying about capitalism keeping them down.

[–]Airbus320 1 insightful - 3 fun1 insightful - 2 fun2 insightful - 3 fun -  (0 children)

Galaxy level IQ

[–]CallMeIshmael 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (2 children)

Not a math teacher, I hope.

[–]jet199 2 insightful - 4 fun2 insightful - 3 fun3 insightful - 4 fun -  (0 children)

Head of science at her school.

[–]Airbus320 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (0 children)

:D

[–][deleted] 4 insightful - 2 fun4 insightful - 1 fun5 insightful - 2 fun -  (0 children)

I get your point that poor financial control is often an issue with poor people, but Netflix and Disney+ are pretty frugal expenditures. Lots of entertainment value for a relatively low cost that can be split among multiple people. People who still use cable instead of streaming services is a better example imo.

[–]Node 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

No, probably not. If they do, they're not the people we're talking about.

[–]Tarrock 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

They are exactly the type of the people we're talking about. People in poverty tend to stay there because of poor decisions. Go look at Reddit, the queers screaming that capitalism has failed since they're poor are wasting their money on funko pops and video games. Late Stage Capitalism isn't capitalism proving it has failed, it's lazy mother fuckers wasting their money on stupid shit and saying it has failed since they have no self control nor determination to improve their situation.

[–]Comatoast 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (0 children)

I don't know, all of the larger businesses monopolozing and making conditions on small businesses extremely difficult or impossible to keep up with doesn't help. There are small businesses that don't want to stoop to the big companies' abysmal business practices, or can't afford the level of inventory to ģet discounts to the same degree. They're being wiped out because most consumers have to go for the cheaper services/products, and outside of ethics or potentially quality-- why wouldn't they?

[–]Node 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

People on reddit aren't fully human though. Okay, maybe a slight exaggeration. There are probably a percentage of legitimately functional humans on reddit, but they wouldn't be one of the lazy mother fuckers doing the above.

What you describe in your above comment is what I'd consider a type of human bot, which appears human, but is being operated by an outside force. That's why their behavior seems so inexplicable.

[–]SaidOverRed 1 insightful - 2 fun1 insightful - 1 fun2 insightful - 2 fun -  (1 child)

Agreed. We should punishing for daring to be productive. In fact, I don't want anyone else getting rich ever again. Let's disincentivize that shit as much as possible. I love poverty!

[–]TheOtherSide 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Race to the bottom!

[–]TheOtherSide 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Well, you can not change the mind of thieves, nor flat earthers.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Wealth is over-rated. The real problem is escaping from the wealthy.