Monday, January 18, 2016

Just 62 People Now Own As Much Wealth As Half The Total Global Population.

Five years ago it took 388 people to make that happen.
In five years, the amount of wealth that has soared to the top 1% of the population has increased dramatically and is showing no signs of slowing down.
To qualify as being part of the richest 1/2 of the total population you only had to make $4400 a year.
To put this into perspective,

 these 62 people have more wealth than 3 BILLION people put together.

Sixty-two people have the same amount of wealth as half the world, says Oxfam

Just 62 people own as much wealth as the poorer half of the global population, a new report reveals, as the widening of the gap between the rich and poor accelerates.
As the business elite converge on Davos for the World Economic Forum, an Oxfam report shows wealth is becoming further concentrated, with the number of people owning the same amount as the bottom half of humanity falling from 388 to 62 in five years.
It says a "broken" economic model underpinned by deregulation, privatisation and financial secrecy has seen the wealth of the richest 62 people jump by 44 per cent in five years to $1.76 trillion.

In that time, the wealth of the poorest 3.6 billion people plunged by 41 per cent.

"The big winners in our global economy are those at the top. Our economic system is heavily skewed in their favour. Far from trickling down, income and wealth are instead being sucked upwards at an alarming rate," the report said.

What cannot be sustained won't be.