85 Richest People In The World Have As Much Wealth As The 3.5 Billion Poorest

[Tusk]

As the World Economic Forum begins in Davos, Switzerland, Oxfam International has released a new report called, “Working for the Few,” that contains some startling statistics on what it calls the “growing tide of inequality.”

According to the  United Nations, however, estimated that the world population reached seven billion in October 2011 Using that figure 0.0000012% of the people in the world have as much wealth as 50%

http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/


In the fantastic series of monologues by Buckminster Fuller - Everything I Know - session 03 (entire) - January 22, 1975, he calculated that technologically we would reach a point in the curve where we could provide 50% of the worlds population with the equivalent of 100 human slaves. i.e not slaves but technological devices that could do the equivalent amount of work. This possibility was achieved between 1970 and 1975. He also describes how at the time of the second world war The US GDP was equivalent to 200 human slaves per capita 100 of which was being enjoyed by the families of citizens and 100 being used in the Industrial military complex.

Buckminster Fuller - Everything I Know - session 03 (entire) - January 22, 1975 - https://www.youtube.com/watch?v=JcW-S2xVWis

To fully understand this brilliant mind of Fuller take the time to see the whole series as each principal he introduces follows from earlier ones, as these tapes were only recently converted to digital some of the picture quality is poor but the audio is still good and provide some worthwhile insights into his thinking and observations.

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[BitCoinNutJob]

Thought i was seeing double, already been involved in another thread like this in economics: https://bitcointalk.org/index.php?topic=929546.0

What is so frustrating is we all know the problem yet we appear to be paralyzed by it.  When most people read these types of figures i feel like their main react would be to panic and try to get more wealth to be "safe".   The elites probably promote these facts/figures.  

[Troonetpt]

Does anyone believe they got their wealth through honest hard work?

[Tusk]

In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

So much for the policy of QE having a tricle down effect

[Elwar]

When you can amass power then you can have control over everyone else.

Those 85 people control the most guns which keep the rest of us in line.

And by guns, I mean the governments that keep us in line.

And yet, so many people believe that the solution to such a wealth distribution is to give the government more power (through taxes/stealing). When all that does is give those people in charge of that power even more wealth.

[BitCoinNutJob]

Does anyone believe they got their wealth through honest hard work?

You can be pretty sure none of them were born with no money/opportunity.  To get into that position takes multi generational efforts.   Social mobility is totally messed up right now.

[Mike Christ]

Wealth officially redistributed; someone out there is going to enjoy the socialist paradise, it's just not going to be me.

[BitCoinNutJob]

I got no problem with people being rich unless im being forced into the ponzi.... taxes, forced to be educated a certain way, cant just go and build my own house somewhere and grow my own food etc etc.

[TrailingComet]

I read somewhere that you only need $3,650 to be richer than the world average
Shows you how bloody skewed income divide is

[BitCoinNutJob]

I read somewhere that you only need $3,650 to be richer than the world average
Shows you how bloody skewed income divide is

Most of the time cash flow is more important than savings.  Unless you have enough money that your savings can cover you for years and years.

[ObscureBean]

Without this ' 0.0000012% of the people in the world have as much wealth as 50% ' we wouldn't be here discussing about it. I understand this is a hard concept to grasp, the wider the gap between the extremely rich and the extremely poor, the faster humanity 'progresses'. It's literally potential energy, no pun intended.

[thejaytiesto]

Without this ' 0.0000012% of the people in the world have as much wealth as 50% ' we wouldn't be here discussing about it. I understand this is a hard concept to grasp, the wider the gap between the extremely rich and the extremely poor, the faster humanity 'progresses'. It's literally potential energy, no pun intended.

This is bullshit in the 21century with automation taking over all the jobs. Most rich people just sit their asses and accumulate wealth. The "rich people are the best cuz they innovate and give jobs" is a myth.

[Elwar]

Without this ' 0.0000012% of the people in the world have as much wealth as 50% ' we wouldn't be here discussing about it. I understand this is a hard concept to grasp, the wider the gap between the extremely rich and the extremely poor, the faster humanity 'progresses'. It's literally potential energy, no pun intended.

This is bullshit in the 21century with automation taking over all the jobs. Most rich people just sit their asses and accumulate wealth. The "rich people are the best cuz they innovate and give jobs" is a myth.

What is stopping you from becoming the CEO of your own business right now and growing it to multi-million dollar status?

[Triffin]

85 Richest People In The World Have As Much Wealth As The 3.5 Billion Poorest

=====

So, a few people understood the power of compound interest and took action ..
YOU can too .. Just takes a bit of capital, a plan, and TIME ..

Triff ..

[Tusk]

The problem is not that individuals can accumulate wealth, The problem is when there is a crisis like 2009 and the system protects those at the top at the expense of those at the bottom, you create economic apartheid.

In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

Bailing out the too big to fail with taxes of the middle and lower income earners, while the wealthiest pay virtually no taxes is indefensible.

While the contribution to an economy of those who create goods and services is a healthy attitude, they must not be put above their customers in a time of crisis.

clearly there are serious problems when the billions being pumped into the economy are being scooped up by the the wealthiest and is not trickling down, but simply inflating asset bubbles and impoverishing the middle and lower income groups this is a recipe for social disaster.

Centralising power to allocate resources is not healthy or sustainable, Natural or sustainable growth is a fractal process.

[BitCoinNutJob]

Without this ' 0.0000012% of the people in the world have as much wealth as 50% ' we wouldn't be here discussing about it. I understand this is a hard concept to grasp, the wider the gap between the extremely rich and the extremely poor, the faster humanity 'progresses'. It's literally potential energy, no pun intended.

This is bullshit in the 21century with automation taking over all the jobs. Most rich people just sit their asses and accumulate wealth. The "rich people are the best cuz they innovate and give jobs" is a myth.

What is stopping you from becoming the CEO of your own business right now and growing it to multi-million dollar status?

I cant speak for others but for me personally i wouldnt bet on myself becoming a multi millionaire with starting a legit business.   I have some business experience (i currently run one) and slightly above average intelligence i guess.

I would guess if 100 people like me attempted to make multiple million profit over the next say... 10 years perhaps 2-3 would succeed.    Better to aim realistically and try to enjoy life a little then worry about making the absolute most money you can.   Success happens when the stars align anyway is my theory.

[solid12345]

No worse than Bitcoin's distribution.

[ObscureBean]

The problem is not that individuals can accumulate wealth, The problem is when there is a crisis like 2009 and the system protects those at the top at the expense of those at the bottom, you create economic apartheid.

In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

Bailing out the too big to fail with taxes of the middle and lower income earners, while the wealthiest pay virtually no taxes is indefensible.

While the contribution to an economy of those who create goods and services is a healthy attitude, they must not be put above their customers in a time of crisis.

clearly there are serious problems when the billions being pumped into the economy are being scooped up by the the wealthiest and is not trickling down, but simply inflating asset bubbles and impoverishing the middle and lower income groups this is a recipe for social disaster.

Centralising power to allocate resources is not healthy or sustainable, Natural or sustainable growth is a fractal process.

Impossible. The entire human universe relies on hierarchy of power for support. If you pull this primordial element from the equation, everything collapses. Power is like the operating system of the current world, you can tweak it to some extent but you can't remove it completely whilst keeping all your current applications (everything outside of nature that you see around you) intact.
 

[Tusk]

The problem is not that individuals can accumulate wealth, The problem is when there is a crisis like 2009 and the system protects those at the top at the expense of those at the bottom, you create economic apartheid.

In the US, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

Bailing out the too big to fail with taxes of the middle and lower income earners, while the wealthiest pay virtually no taxes is indefensible.

While the contribution to an economy of those who create goods and services is a healthy attitude, they must not be put above their customers in a time of crisis.

clearly there are serious problems when the billions being pumped into the economy are being scooped up by the the wealthiest and is not trickling down, but simply inflating asset bubbles and impoverishing the middle and lower income groups this is a recipe for social disaster.

Centralising power to allocate resources is not healthy or sustainable, Natural or sustainable growth is a fractal process.

Impossible. The entire human universe relies on hierarchy of power for support. If you pull this primordial element from the equation, everything collapses. Power is like the operating system of the current world, you can tweak it to some extent but you can't remove it completely whilst keeping all your current applications (everything outside of nature that you see around you) intact.
 

While I agree, historically hierarchy was our only option, we trusted centralised authority to provide security and legitimacy. The dangers have always been that over concentrations of power lead to total corruption and that led to the demise of all previous empires. Today we have three significant advantages that will hopefully break this cycle of boom bust war.

Firstly We have mass global communication that so far remains unrestricted with almost every human being having access to a cell phone eaven in Africa, its is possible for any individual to communicate with any other human amongst the 7 billion of us. We can now share information independently of Hierarchy.

Secondly thanks to Satoshi we have the blockchain that will allow us to operate trustless distributed networks. This makes our historical reliance on centralise authority redundant.

Thirdly, through technology we are moving from paradigm of scarcity to one of surplus.

Granted these changes have happened in the space of one generation so adapting to the situation will take some time. My late grandmother was born when transportation was limited to animal drawn carts, she lived to see us put a man on the moon yet she refused to undress in front of the TV because the thought the people on tV could see her naked. Because something was always so does not mean we are not able to evolve past it.

Dogma remains or greatest enemy

[(oYo)]

What is stopping you from becoming the CEO of your own business right now and growing it to multi-million dollar status?

In a word? Conscience.