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Thursday, May 30, 2013

MooPig Financial Trends :: "Global Wealth Inequality"

Impartial Disparity? I don't think So.
Gathered by Pat Darnell  |  May 30, 2013  |  Bryan TX

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The New York Times states: "The distribution of the world’s wealth — things like stocks, bonds or physical assets like land — has become even more narrowly concentrated than income, according to a new report by the World Institute for Development Economics Research of the United Nations University."

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~ In 2000, the top 1 percent of the world’s population — some 37 million adults with a net worth of at least $515,000 — accounted for about 40 percent of the world’s total net worth, according to the report.
~ The bottom half of the population owned merely 1.1 percent of the globe’s wealth. The net worth of the world’s typical person — whose wealth was above that of half the world’s population and below that of the other half —was under $2,200.
In rummaging through pages on this subject, it looks like AlterNet has replaced NewsWeek and Time magazines as a place to go get juicy stories about current events. I have half heartedly looked for the source and origins of AlterNet... [Maybe someone can help with that]. I am, after all, just another lazy blogger.
About Alternet: " ... Since its inception in 1998, has grown dramatically to keep pace with the public demand for independent news. We provide free online content to millions of readers, serving as a reliable filter, keeping our vast audience well-informed and engaged, helping them to navigate a culture of information overload and providing an alternative to the commercial media onslaught. Our aim is to stimulate, inform, and instigate. (LINK) ... "
This story from yesterday has been brewing since agencies released some information about wealth distribution around the globe. AlterNet's article has some key points about that.

The World's Richest 8% Earn Half of All Planetary Income | Alternet: EXCERPT  |  "For example, the World Bank's list of "GDP per capita (current US$)" shows that in 2011 this annual-income figure ranged from $231 in Democratic Republic of Congo at the Equator, to $171,465 in Monaco within Europe. The second-poorest and second-richest countries respectively were $271 in Burundi at the Equator, and $114,232 in Luxembourg within Europe. For comparisons, the U.S. was $48,112, and China was $5,445. Those few examples indicate how widely per-capita income ranges between nations, and how more heat means more poverty." (Eric Zuesse. May 28, 2013. LINK ) ... "

'via Blog this'
That means when you divide all living people into five equal groups:
  1. Poorest
  2. Second
  3. Third
  4. Fourth
  5. Richest
... Eighty percent of the world's people don't have any wealth. The "Richest" control 94% of the wealth. Sources are from the UN says the author. (Jason Hickel. 2 Apr 2013. LINK ) The groups are far from equal when measuring wealth.

Why does the wealth gap increase over the years? For example rich countries give every year about $130 Billion in aid to poorer countries. However, corporations take about $900 Billion out of poor countries every year. And the poorer 80% pay $600 Billion in debt service to its richer neighbors. Poorer countries provide resources and cheap labor. $900 + $600 Billion is $1.5 Trillion each year flowing out of the poorer countries.

Enough people asking the right questions will help to illuminate this inequality. But the methods of usurping poorer countries through unfair trade rules, and exploitation of labor forces have to be changed. Wrestling the wealth out of the hands of the 2% who now control trillions is not a simple task.

Changing the rules of wealth exploitation is not going to be an easy task any way you look at it. (LINK) If you can't screw it, or throw money at it, most rich folks won't even consider it.

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