85 OF THE RICHEST OWN HALF THE WORLD’S WEALTH
It is pretty amazing isn’t it? I mean we have talked a lot about economic inequality and how it is getting worse but here are some incredible numbers to help make that point. While this is extreme, it is the same story of the rich getting richer and the poor getting poorer, despite efforts to change this. 1% of the world’s population controls $110 trillion dollars, which is 65 times the bottom half of the population. They polled 26 countries and found that 24 of them reported that the rich got richer there from 1980 to 2012. In the U.S., this same 1% has garnered 95% of the “post financial crisis growth” since 2009 while the bottom half (90%) become poorer. There is a long track record of this but I guess only now since it has become so pronounced is it getting all this attention. This is easy to report on but what can be done?? The first thing I think of, which is always what I think of when I look at an Oprah Winfrey, or Bill Gates, etc. is if they just would give 1% or 2% of their money away how many people could they help? A little while back, in the past 12 months, the world’s billionaires got together for a little meeting. There some of them, but not all I believe, pledged to give away HALF of their wealth! So now with all of that money pledged can we make some progress on this? If not equality at least building of infrastructure to give poor people homes, and access to schools, clean water, etc. Why does it seem like we are constantly looking for funding to do these things when literally billions are being given to help do this? I am sure the problem lies in the coordination of it all, no small matter. It would be even better if these super rich could not just give the money, but also to manage and oversee the distribution of it so it gets to the people for whom it was intended. This issue will not go away, it is here to stay and it will be a central issue in every election. Let’s hope that all the attention leads to some progress.
Oxfam: Richest 1% own nearly half of world's wealth
Orin Rosenfeld
President
Rosenfeld Realty Advisors
9858 Glades Rd. Suite 209
Boca Raton, FL 33434
Phone: 561-756-1665
Fax: 561-470-0707
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