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Eight men own half the world's wealth


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Eight men own half the world's wealth. OXFAM

London (AFP) - Eight men own the same wealth as half the world's population, a level of inequality which "threatens to pull our societies apart", Oxfam said on Monday ahead of the World Economic Forum opening in Davos.

The wealth of the world's poorest 3.6 billion people is the equivalent to the combined net worth of six American businessmen, one from Spain and another from Mexico.

Picked from Forbes' billionaires list, they include Microsoft founder Bill Gates, Mark Zuckerberg who co-founded Facebook, and Jeff Bezos, founder of Amazon.

Oxfam pointed to a link between the vast gap between rich and poor and growing discontent with mainstream politics around the world
https://www.yahoo.com/news/eight-men-own-half-worlds-wealth-oxfam-001214017.html


 

 

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The ratio for the other 'half' of the population ain't all that great either ...

~

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Back when I was a waitress, I met a man who was so wealthy he had never used an eftpos machine. They where making some big budget Bollywood film and this guy was some famous producer.  He was used to eating at places where people just brought him something to sign.

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Frankly, I think it's obscene.  It would be interesting to compare that ratio with what existed in say, the 60's...

At some point I'm hoping that the problem might CLICK in our collective psyche, namely that technology (starting with industrial tech, and now computers/robotics/atms/self serve/etc ad infinitum) has been introduced into virtually every form of human endeavour.  Those with the wealth simply buy machinery/technology that puts masses of people out of work, and they don't have to pay their wages anymore - yup, that's fair.....?  There is now a huge underclass of those on welfare, or who cling to part time jobs, or instead turn to crime.  Then you add the horror of globalisation, where they bandy around the myth of the Level Playing Field and No Tariffs, and then proceed to exploit the countries with the lowest wages...  Thus multiplying the inequality.

 

Wouldn't it be great to see a few of these folks in the top hundred, say, starting up a movement for EQUALITY and redistributing wealth...  But no, it seems there is more support for really important things, like watching reality TV...

 

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Speaking of TV. If you can get your hands on a copy of Nigel Latta's The haves and Have nots, it explains in simple terms how things have changed since the 80s

Edited by Kismit
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Note how prominent are some of those who seek to control what people get to see of the thoughts of others through control of "fake news" on social media (and who were conspicuously prominent supporters of The Hillary). Hands up anyone who still sees Vegeburger*, Gates or Bezos as entirely benign philanthropists who just want to improve the lot of humanity?

 

* that should be Zuckerberg, but that's what spell check came up with, which I rather like 

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Let's not make this about Hillary or Trump. It's a global and complicated issue that actually respectfully requires it's  own attention. Without focusing on one nations current politics.

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4 minutes ago, Kismit said:

Let's not make this about Hillary or Trump. It's a global and complicated issue that actually respectfully requires it's  own attention. Without focusing on one nations current politics.

People being rich doesn't bother me.  It's the poverty that needs attention.  Now it might be that taking all the rich people's money away from them and giving it to the poor would help -- but somehow that doesn't sound like it would work.

Overall I think mankind as done fairly well in the last century or so.  Poverty is down and people are living longer and better lives, with, of course, all sorts of exceptions all over the place.

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The problem is not in being wealthy it is in getting wealthy by means that lack morals. 

The fashion industry is one of the worst culprits. Sweat shops provide jobs but at a real human cost.

I work in the coffee industry.  We don't do fair trade (that comes with its own issues) but we do do ethical trade. All our farms are regularly scrutinized and checked. We only buy from farmers who treat and pay their workers well.

I'm my opinion, world wide standards of pay need to be implemented and we could even go as far as capping industry profits.

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From my personal experience I've had on unfortunate occasions of being the Personal Assist to many a wealthy young ones that hands over a wad of cash to me before going out on excursions to the rural areas where credit cards are still somewhat of an oddity.

They'll point and want and move on leaving me to pay and sort out the cash and carry. By the end of the day they'll be surprised at the amount of cash still left in the kitty pile. Usually by that time the car would be so packed and bursting it usually needs another trip or two to pick up the stuff that's too big to load in a standard family size sedan ...

Just on a trip they would spend what would feed a family of four comfortably for half a year quite modestly with some left over for luxuries ... normally its on the occasions when they're 'grounded' because of over spending in the big cities ... how's that for a spot of disciplining eh ?

~

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Perhaps this is the solution........

 

Tuesday, 17 January 2017

Finders keepers in giveaway

By Vaughan Elder

 A series of clues left by an anonymous benefactor had hundreds of people searching for cash hidden in a secret Dunedin location.

A chuffed Louis Gray found a $100 note and a $100 gift voucher on a post next to Kettle Park, St Clair, on Friday, but not before the large-scale game of hide and seek took off on social media.

Link

Source: Otago Daily Times

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So what?  If one is envious of these alleged eight men, start investing more wisely and do some catching up.

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Just now, Thorvir said:

So what?  If one is envious of these alleged eight men, start investing more wisely and do some catching up.

I don't think it's about envy as much as it is about how basic living is becoming less affordable for most people.

There are many working poor families who barely afford rent, let alone having investment money. And the situation is getting worse. 

My issue is with trickle down economics structures. Tax breaks for big income earners designed to make the money flow down into society. 

The trouble there is it usually doesn't, it gets invested into finding ways to cut costs and create more profit.

More money in the lower income earners hands though, tends to flow more efficiently.

In my opinion small business owners need tax breaks to create jobs much more than big money earners.

Perhaps tax incentive should come from employment numbers and conditions.

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First thing that comes to my mind when reading this topic is Inequality.
When billionaires are systematically paying lower rates of taxes than their secretaries or cleaners there is something wrong with the system.
Furthermore, business leaders should commit to paying fair living wages to their employees.
 


 

 

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Unless there's any evidence that this money was acquired through nefarious means, this is completely fine by any standard. The wealth was acquired through services and goods that people willingly pay for. Microsoft (employees I believe?) alone has donated over a billion to whatever causes. Most of the poverty in the world comes from places like India, China Sri Lanka, and so forth. Poverty has been decreasing for years as well. This story is just another "us vs them" ploy to make rich people hated. By all measureable accounts, those 8 men have helped humanity and the world more than ghandi, the dalai lama, and the pope combined. 

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Nearly everyone I know has a lot more money than me

So what?

Money isnt the key to happiness.  

Edited by Essan
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Maybe the real problem is not the Top or the Bottom but the Middle.  (We elect people who break their promises.  Time and time and time again.  Same people; same broken promises.  Time and time again.)

 

Edited by Eldorado
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