Richest 1% now owns half the world's wealth

B

Bill

Malarkeyville

The total wealth in the world grew by 6% over the past 12 months to $280 trillion, marking the fastest wealth-creation since 2012, according to a new report from Credit Suisse. More than half of the $16.7 trillion in new wealth was in the U.S., which grew $8.5 trillion richer.

But that wealth around the world is increasingly concentrated among those at the top. The top 1% now own 50.1% of the world's wealth, up from 45.5% in 2001.

"So far, the Trump presidency has seen businesses flourish and employment grow, though the ongoing supportive role played by the Federal Reserve has undoubtedly played a part here as well, and wealth inequality remains a prominent issue," said Michael O'Sullivan, chief investment officer for International Wealth Management at Credit Suisse. "Looking ahead, however, high market valuations and property prices may curb the pace of growth in future years."

The world's millionaires are expected to do the best in the coming years. There are now 36 million millionaires in the world and their numbers are expected to grow to 44 million by 2022.

The U.S. still leads the world in millionaires, with 15.3 million people worth $1 million or more.

Japan ranks second with 2.7 million millionaires, while the U.K. ranks third with 2.2 million. China ranks fifth with 1.9 million millionaires, but its millionaire population is expected to hit 2.8 million by 2022.
 
Richest 1% now owns half the world's wealth
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Obviously, our oligarch overlords need more tax cuts.
It is a good thing Trump and the Republicans make these downtrodden plutocrats one of their top priorities. Go Trump!

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The total wealth in the world grew by 6% over the past 12 months to $280 trillion, marking the fastest wealth-creation since 2012, according to a new report from Credit Suisse. More than half of the $16.7 trillion in new wealth was in the U.S., which grew $8.5 trillion richer.
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=$4.26 trillion growth for the top 1% and $4.26 trillion growth for the lower.

i'd love to change the world
but I don't know what to do
so I leave it up to you - Ten Years After

MAGA now and worry about income strata at leisure
 
Ya know. Instead of spending so much time worrying about how much other people have ya could be working on ways to earn more yourself.
 
Thumper said:
Ya know. Instead of spending so much time worrying about how much other people have ya could be working on ways to earn more yourself.
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This place IS a huge waste of time (and keystrokes)-but this is a discussion of economic/tax policy.

Welcome to JPP.
 
Can I point something out which ought to be glaringly obvious but isn't apparently. Most people take a lifetime to gain wealth, people under the age of 30 haven't had time to do that unless they inherited it..

Sent from my Lenovo K8 Note using Tapatalk
 
Corazón said:
Can I point something out which ought to be glaringly obvious but isn't apparently. Most people take a lifetime to gain wealth, people under the age of 30 haven't had time to do that unless they inherited it..

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You mean they haven't taken the time to do it.

I was born into relative poverty. By the time I was 30 I had a net worth exceeding 7 figures. Not too bad for a mixed race kid that barely graduated high school and had his first kid at 18. All it takes is a drive to succeed and a good work ethic.
 
Thumper said:
Ya know. Instead of spending so much time worrying about how much other people have ya could be working on ways to earn more yourself.
Click to expand...

If all the whiners constantly complaining how much someone else had would spend 1/4 the time trying to better themselves as they do whining about someone else, they might be one of those the whiners whine about.
 
Corazón said:
Can I point something out which ought to be glaringly obvious but isn't apparently. Most people take a lifetime to gain wealth, people under the age of 30 haven't had time to do that unless they inherited it..

Sent from my Lenovo K8 Note using Tapatalk
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If someone wants to leave another person or persons their wealth, who is to say that the person whose money it is can't make that choice?
 
Thumper said:
You mean they haven't taken the time to do it.

I was born into relative poverty. By the time I was 30 I had a net worth exceeding 7 figures. Not too bad for a mixed race kid that barely graduated high school and had his first kid at 18. All it takes is a drive to succeed and a good work ethic.
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Yes and no doubt you are 6ft 4in, have a 12 pack stomach and a 9in dick.

Sent from my Lenovo K8 Note using Tapatalk
 
No. I'm 6'5" with a ten inch dick actually (the African and Native genes mixed well with the Norse). Though the bourbon has taken a toll on my abs in recent years.

Seriously. The hardest thing with building wealth, other than others dragging you down, are the limits you put on yourself.
 
The lack of educated deplorables in this country is yet again the problem. When you have an economic system that is based on consumption people need to have disposable income in order to consume. The more disposable income the better the economy.
 
katzgar said:
The lack of educated deplorables in this country is yet again the problem. When you have an economic system that is based on consumption people need to have disposable income in order to consume. The more disposable income the better the economy.
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So if deplorables were educated what would be different vis a vis more disposable income?
 
Thumper said:
No. I'm 6'5" with a ten inch dick actually (the African and Native genes mixed well with the Norse). Though the bourbon has taken a toll on my abs in recent years.

Seriously. The hardest thing with building wealth, other than others dragging you down, are the limits you put on yourself.
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The other biggest barrier to attaining wealth is the progressive income tax. That's right.

These people sing from the same hymnal all the time. TAX CUTS FOR THE RICH!!!!! TAX CUTS FOR THE RICH!!!!
 
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