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Posts Tagged ‘Oxfam’

Top 8 Racketeers Wealthier than World’s Bottom Half

Posted by feww on January 17, 2017

Gap between rich and poor far greater than previously feared –Oxfam

8 kingpin racketeers control more wealth than world’s poorest half (3.68 billion people), according to an Oxfam’s report: An economy for the 99 percent.

[The extortioners, Bill Gates, Amancio Ortega (Spain), Warren Buffett, Carlos Slim (Mexico), Jeff Bezos, Mark Zuckerberg, Larry Ellison, and Michael Bloomberg top Forbes 2016 billionaires list with a combined wealth of about $426 billion (real time estimate: $492 billion). Koch Brothers, Charles and David, each with $43.5 billion, replace Bloomberg on the eights spot, according to Forbes real time ranking.]

“It is obscene for so much wealth to be held in the hands of so few when 1 in 10 people survive on less than $2 a day,” said Oxfam’s International Executive Director.

Since 2015, the richest 1% has owned more wealth than the rest of the planet, the report says.

“The incomes of the poorest 10% of people increased by less than $3 a year between 1988 and 2011, while the incomes of the richest 1% increased 182 times as much.”

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What If the ‘Martians’ Had Invaded The World?

Posted by feww on January 18, 2016

Sent by a reader

How Human Civilization Got So Screwed Up?

Why Humans Let their World Be Ruled by Evil?

The richest 1% now own more wealth than the rest of the world combined.

62 Individuals have as much wealth as the bottom half: Oxfam

In its latest report, Oxfam outlines how the wealth of the poorest half of the world’s population —more than 3.6 billion people—has fallen by a trillion dollars (41 percent) since 2010, while the wealth of the richest 62 people has inflated by more than half a trillion dollars to $1.76 trillion.

By what right, reason or rhyme?

The global inequality crisis is reaching new extremes. The richest 1% now have more wealth than the rest of the world combined. Power and privilege is being used to skew the economic system to increase the gap between the richest and the rest. A global network of tax havens further enables the richest individuals to hide $7.6 trillion. The fight against poverty will not be won until the inequality crisis is tackled.

The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together. This occurred a year earlier than Oxfam’s much publicized prediction ahead of last year’s World Economic Forum. Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years. This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century.

AN ECONOMY FOR THE 1%

The gap between rich and poor is reaching new extremes. Credit Suisse recently revealed that the richest 1% have now accumulated more wealth than the rest of the world put together.

Meanwhile, the wealth owned by the bottom half of humanity has fallen by a trillion dollars in the past five years.

This is just the latest evidence that today we live in a world with levels of inequality we may not have seen for over a century. ‘An Economy for the 1%’ looks at how this has happened, and why, as well as setting out shocking new evidence of an inequality crisis that is out of control.

Oxfam has calculated that:

  • In 2015, just 62 individuals had the same wealth as 3.6 billion people—the bottom half of humanity. This figure is down from 388 individuals as recently as 2010.
  • The wealth of the richest 62 people has risen by 44% in the five years since 2010 – that’s an increase of more than half a trillion dollars ($542 billion), to $1.76 trillion.
  • Meanwhile, the wealth of the bottom half fell by just over a trillion dollars in the same period —a drop of 41% .
  • Since the turn of the century, the poorest half of the world’s population has received just 1% of the total increase in global wealth, while half of that increase has gone to the top 1%.
  • The average annual income of the poorest 10% of people in the world has risen by less than $3 each year in almost a quarter of a century. Their daily income has risen by less than a single cent every year.

The report is posted at http://www.oxfamamerica.org/static/media/files/bp210-economy-one-percent-tax-havens-180116-en_0.pdf

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Richest one percent to own 50 percent of world’s wealth: Oxfam

Posted by feww on January 19, 2015

Updated January 20, 2015

80 richest people wealthier than the bottom half of world population

World’s richest 1% owned 48% of global wealth in 2014, with the remaining 52% shared between the other 99% of adults on the planet. “Almost all of that 52% is owned by those included in the richest 20%, leaving just 5.5% for the remaining 80% of people in the world,” says Oxfam, a British-based “anti-poverty”organization, in a new report.

percent share global wealth oxfam report
Share of global wealth of the top 1% and bottom 99% respectively; Credit Suisse data available 2000–2014. Source: Oxfam report/ WEALTH: HAVING IT ALL AND WANTING MORE

The top 1% are projected to have more than 50% of total global wealth by 2016,according to data collated by Credit Suisse.

Wealth of the 80 richest people in the world has doubled in nominal terms in the 6 year-period between 2009 and 2014, while the wealth of the bottom 50% has decreased over the same period.

These 80 individuals have more wealth than the combined wealth of the bottom 50% of the global population (more than 3.5 billion people).

In 2010, the number of richest individuals who owned same amount of wealth as bottom half of the world’s population was 388.

“Global wealth is increasingly concentrated in the hands of a small wealthy elite.  The richest 1% of adults in the world have been increasing their share of total global wealth.” says the report.

oxfam report
Number of billionaires it takes to have accumulated the same amount of wealth as the bottom 50% of the global populationSource: Oxfam report/ WEALTH: HAVING IT ALL AND WANTING MORE

“The very richest of the top 1%, the billionaires on the Forbes list, have seen their wealth accumulate even faster over this period. In 2010, the richest 80 people in the world had a net wealth of $1.3tn. By 2014, the 80 people who top the Forbes rich list had a collective wealth of $1.9tn; an increase of $600bn in just 4 years, or 50% in nominal terms. Meanwhile, between 2002 and 2010 the total wealth of the poorest half of the world in current US$ had been increasing more or less at the same rate as that of billionaires; however since 2010, it has been decreasing over this time.”

The number of richest people in the world has more than doubled since the financial crisis, up from 793 in March 2009 to 1,645 in March 2014. Their  aggregate net worth is $6.4 trillion, up from $5.4 trillion just a year ago, according to Forbes.

“This group of people is far from being globally representative. Almost 30% of them (492 people) are citizens of the USA,” said Oxfam.

What’s NOT immediately obvious in the Oxfam report is that one percent of a tiny fraction of the world population (about 0.00000001, or one in 100million people) have a monopoly over economic and political power (absolute power).

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Insane India?

Posted by feww on November 5, 2013

India launches a rocket to Mars

Critics of India’s Mars mission, which cost the country 4.5 billion-rupee ($73 million), say India can ill-afford to spend any money on space programs when about 70 percent of the nation’s 1.2 billion people live on less than $2 a day.

India’s Prime Minister Singh says he’s counting on the space program to yield technological advances that boost his country’s development prospects.

“Questions are sometimes asked about whether a poor country like India can afford a space program and whether the funds spent on space exploration, albeit modest, could be better utilized elsewhere,” said Singh last year. “This misses the point that a nation’s state of development is finally a product of its technological prowess.”

“India is home to poor people but it’s also an emerging economy, it’s a middle-income country, it’s a member of the G20. What is hard for people to get their head around is that we are home to poverty but also a global power,” chief executive of Oxfam in India told Bbc.

“We are not really one country but two in one. And we need to do both things: contribute to global knowledge as well as take care of poor people at home.”

It would be interesting to find out the cost of upkeep of Oxfam in India as a percentage of total funds donated!

Space Program Annual Expenditures

  • India:  $1.5 billion
  • Japan: $3.3 billion
  • Untied States: $17.9 billion

Mars Mission Stats

  • Japan’s mission to send a satellite to orbit the Red Planet failed in 1998.
  • China’s probe to Mars was destroyed in 2011.
  • About 50 percent of all attempts to reach Mars have failed.
  • India and China became competitors in the space race in the late 1990s.
  • The 780-million km journey to Mars would take about 300 days.

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