Wealth - PeachParts Mercedes-Benz Forum

MTI · #1 12-07-2006, 05:20 PM

Richest 1 percent own 40 percent of global assets
December 6, 2006

The richest 2 percent of adults still owns more than half of the world's household wealth, perpetuating a yawning global gap between rich and poor, according to research published Tuesday. The report from the Helsinki-based World Institute for Development Economics Research shows that in 2000 the richest 1 percent of adults -- most of whom live in Europe or the United States -- owned 40 percent of global assets.

The richest 10 percent of adults accounted for 85 percent of assets, the report said. By contrast, the bottom 50 percent of the world's adult population owned barely 1 percent of the world's wealth.

According to the report, individual assets of $2,200 placed an adult in the top half of the world's wealth distribution in 2000.

Those in the richest 10 percent of adults had assets of $61,000 or more while those in the top 1 percent -- who now number 37 million -- had at least $500,000.

Household wealth in 2000 was valued at $125 trillion, equivalent to roughly three times the value of total global production, or to $20,500 per person, the report said.

Average wealth in the United States amounted to $144,000 per person in the year 2000, and $181,000 in Japan, it said.

In India, the figure was just $1,100 and in Indonesia, per capita wealth was $1,400.

Wealth is concentrated in North America, Europe and high-income Asia-Pacific countries, with nearly 90 percent, the report said.

PaulC · #2 12-07-2006, 05:35 PM

I wish that I could brag about my immense riches, but I'm just all hat and no cattle.

Kuan · #3 12-07-2006, 05:46 PM

Quote:

Originally Posted by MTI

Average wealth in the United States amounted to $144,000 per person in the year 2000, and $181,000 in Japan, it said.

Lesse, three of us in house...

nope.

Someone get me a welfare check!

Botnst · #4 12-07-2006, 06:03 PM

Quote:

Originally Posted by Kuan

Lesse, three of us in house...

nope.

Someone get me a welfare check!

Watch your mailbox. Publisher's Clearinghouse is here to help.

kerry · #5 12-07-2006, 06:20 PM

Workers of the World, Unite!

byrdandcompany · #6 12-07-2006, 06:27 PM

Heck, those reports call my house and asset...it ain't it is the banks asset!!!!

kip Foss · #7 12-07-2006, 10:27 PM

The top 1% have that money because mostly they or their family earned it. If that money were redistributed evenly throughout the world within less than a year the initial 1% would have it all back again and some.

I was in Malaya in the early '70's when the government initiated a program called "bummy putra" (sp). It means 'sons of the soil' and was designed to take the wealth away from the Indians, who controlled the mercantile side of the economy, and the Chinese, who mostly controlled the banking, and give it back to the Malays. To make a long story short, and, as one might imagine, it didn't take but a couple of years for the Indians and the Chinese to get all the money and more back from the Malays.

It is not that the Indians and Chinese are more dishonest than anyone else, it is just that the Malays are not as economically clever as they are. It is the same reason that even in the Black areas of a town you find very few Black business people. There it is mostly Asians. Now, before the Asians bought those stores in the ghettos, everyone of them was available to be bought by a Black or Hispanic. Why didn't they buy them?

Its the same way with non-chain motels. Over 50% are owned by one Indian family, the Patels. I am sick of listening to white Americans whine about Asians buying up all the stores and motels. If they don't like it then why don't they buy these places, work 27 hours a day 9 days a week live on the smell of a bowl of rice like the Asians?

They didn't buy them because US minorities have a different approach to getting ahead. They sit around and wait for it to come to them while the Asians go out and make it happen. Check the newspapers and see who are the top students in most high schools around the country. Mostly it is Asians. Why?

I am sorry for all the poverty in the world but in my opinion the only thing that will stop it is for these people to STOP BREEDING. I know that this isn't going to happen but giving bazillions of bucks to these countries will only fatten their rulers Swiss bank accounts.

Damn, I glad I got that off my chest.

Orkrist2 · #8 12-08-2006, 01:22 AM

There is truth to what you say.

Pete Geither · #9 12-08-2006, 05:20 AM

After reading those stats,,,, it's nice being me.

Kuan · #10 12-08-2006, 07:06 AM

Quote:

Originally Posted by kip Foss

Now, before the Asians bought those stores in the ghettos, everyone of them was available to be bought by a Black or Hispanic. Why didn't they buy them?

Heh, they make a living selling fried food to poor people $2 at a time.

Asian Chinese have a very different system of finance than Black, Hispanic, or White folk. They also have a strong communal network of support and a strange hierarchal system of unwritten rules. Bonds, once formed, are difficult to break. They have an ability to be frugal and they never forget why they're where they are today.

Gawd that sounds like a fortune cookie.

POS · #11 12-08-2006, 08:09 AM

All that data and America still has a poverty problem? Perhaps when compared to other Americans, but when compared on a global scale, our poorest are very wealthy.

We are all fortunate to live in the good old USA - we have it very well here.

Botnst · #12 12-08-2006, 08:21 AM

Dislexic workers of the world untie!

Hatterasguy · #13 12-08-2006, 11:01 AM

After reading those stats I am just glad to be me!

el presidente · #14 12-08-2006, 11:30 AM

Being wealthy is over-rated.

aklim · #15 12-08-2006, 11:41 AM

Quote:

Originally Posted by kip Foss

I was in Malaya in the early '70's when the government initiated a program called "bummy putra" (sp). It means 'sons of the soil' and was designed to take the wealth away from the Indians, who controlled the mercantile side of the economy, and the Chinese, who mostly controlled the banking, and give it back to the Malays. To make a long story short, and, as one might imagine, it didn't take but a couple of years for the Indians and the Chinese to get all the money and more back from the Malays.

It still goes on. Supposedly it was a version of our Affirmative Action. It was a 10 year plan to get things on an even keel. How many years since then? BPs could simply get loans at next to nothing for interest, all kinds of freebies but they decided not to farm the land and rent it to the chinaman. AT that time, the Ringgit(sp) was equivalent to the Singapore dollar. Today it is worth about $0.44, and consider that they have oil, tin and many other natural resources.