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[Platy]

I never really got this kind of statistic. Surely the "poorest" people in the world have negative wealth, i.e. they are in debt. But then, such a person isn't necessarily "poor". An American just out of college is probably in debt with little-to-no savings, but she's almost certainly experiencing a better standard of living than some barely-positive wealth Indian subsistence farmer (who would actually prefer to be in debt with an education, but doesn't have access to a financial market).

http://www.forbes.com/billionaires/list/#version:static
75+67+60.8+50+45.2+44.6+43.6+40
That is 426.2 Billion dollars

Earth population is 7 Billion.
Half is 3.5

That gives 121.77 dollars per people

Take that as you will

edit : for reference, China has 1,3 billion people, India has 1,2 billion people and Africa (yes, the continent) has a population of 1,2 billion people

 

[Lime]

Perfect.

 

[farmerboy]

Two people on this page know billionaires.

I'm having trouble believing that. Surely they're not that commonplace.

 

[daffy]

The poor idolize the shit the rich take for granted. Not worrying about roofs over their head, not worrying about their kids being cared for, not worrying about how the electric is going to get paid, etc etc. Most poor people would be satisfied with just the old american dream of a single house with a picket fence, stable job, education and food on the table. Unfortunately that american dream is now considered communistic ideals and wealth redistribution. If the super rich would just get it through their thick skulls the economy would be so much healthier for everyone in that scenario instead of constantly concentrating on their own wealth and short term gains the world would be better off.

Agreed. Its an endless ladder and the ones so far up have stopped caring that there are those who can't even reach the first rung.

 

[Brakke]

http://www.forbes.com/billionaires/list/#version:static
75+67+60.8+50+45.2+44.6+43.6+40
That is 426.2 Billion dollars

Earth population is 7 Billion.
Half is 3.5

That gives 121.77 dollars per people

Take that as you will

My claim is that descriptive statistics aren't super useful when we're dealing with billions of people living in wildly different circumstances, for whom "wealth" can mean totally different things, and your answer is to... divide a number evenly over three billion people and claim that doing so illustrates anything about their circumstances at all?

 

[iamblades]

Absolutely disgusting. I look around me seeing people struggle like crazy, myself included currently, and 8 people have half of the world's wealth. And somehow this is being allowed to happen and nothing can be done about it.

That is not what that stat says.

 

[Unknown Soldier]

I have a family friend that's a billionaire and when we went to Ibiza, he was the cheapest guy on the trip.

Rich people didn't get rich by spending all their money. I'm just saying.

 

[Gallbaro]

Two people on this page know billionaires.

I'm having trouble believing that. Surely they're not that commonplace.

I unknowingly ate a burger with one at a square in small southern region with a very high amount of millionaires per capita. The unassuming one. Waitress told me later who was sitting next to me at the counter.

I asked one for money for a startup, he refused. The minor jackass, I think even with my rejection bias. This guy was definitely going for the high score.

I since divested from the business, but was a customer of a jackass and had to go through a few rounds contract negotiations and signing with them. This person was definitely going for the high score.

None of them really had/have charitable intentions.

 

[MWS Natural]

amazing...is there a video of this lol

 

[Obliterator]

That is not what that stat says.

I'm confused? It says 8 people have the same wealth as the poorest half of the world?

I realize they don't have half of the TOTAL wealth. The fact they still have more than the poorest half of the world is still ludicrous. 8 people compared to half of the population of the planet

 

[Media]

I honestly can't even comprehend that amount of money. I can't even comprehend not worrying about juggling medical bills in order to keep the kids fed and clothed, the rent paid, and the lights on. It's fucking insane to me.

 

[Obliterator]

Two people on this page know billionaires.

I'm having trouble believing that. Surely they're not that commonplace.

GAF seems to have an abnormal amount of wealthy / well off financially individuals judging by a lot of threads

 

[yanipheonu]

Sure hope that proletariat doesn't get too much discontent.

 

[Usobuko]

The more annoying part is those in the top 30% bracket or so telling the rest to suck it up and not seeing themselves as an eventual pebble on the roadside that will be kicked to the same bracket as the everyone else.

The wealth at top will just get more concentrated and the numbers will shrink further. It won't be that long that the 1 billionaire folks look up and see his supposedly "classmates" hit the hundreds category. Another 15-20 years and we will see it.

 

[Ac30]

What are you supposed to do with that stupid amount of money anyway?



Maybe not that but at a certain point in our future history something will happen and the poor will probably rebel against the rich again.

The problem is by the time that happens the rich will have autonomous weapons and PMCs. What then?

 

[Sulik2]

http://www.forbes.com/billionaires/list/#version:static
75+67+60.8+50+45.2+44.6+43.6+40
That is 426.2 Billion dollars

Earth population is 7 Billion.
Half is 3.5

That gives 121.77 dollars per people

Take that as you will

edit : for reference, China has 1,3 billion people, India has 1,2 billion people and Africa (yes, the continent) has a population of 1,2 billion people

This is pointless, the solution isn't to give the poorest 3 billion a hundred bucks, its to strip that money from the obscenely wealthy and use it to establish the basic social systems, access to clean water, food, waste disposal, education, healthcare, power, transportation etc..., that enable functional economies and the ability to get out of the poverty cycle. In most of these countries where people live on less then a dollar a day, the problem is there is no economic framework to even live free from poverty and subsistence living.

 

[Trey]

GAF seems to have an abnormal amount of wealthy / well off financially individuals judging by a lot of threads

It's a large forum with a wide age range and a generally educated demographic. it's no great surprise.

 

[sugarhigh4242]

The only way anything is ever going to change is through revolution.

Nobody is going to just willingly make it happen.

Honestly, this is correct, and we need to start taking it seriously. Even if we never actually achieve a movement capable of overthrowing capitalism, such a movement can finally put pressure on the ruling class. As long as we keep looking to Democrats to challenge the 1%, we're sunk. There's no way to vote against the interests of Wall St.

We need a Party of the 99% that is funded through membership dues, not billionaire donations. The example of Kshama Sawant in Seattle points the way.

 

[Platy]

It's a large forum with a wide age range and a generally educated demographic. it's no great surprise.

OR

videogame is not a cheap hobby so or you have weird priorities or you have lots of money.

 

[thelatestmodel]

Two people on this page know billionaires.

I'm having trouble believing that. Surely they're not that commonplace.

Make that three. I do actually know one.

 

[hanspampel]

This is pointless, the solution isn't to give the poorest 3 billion a hundred bucks, its to strip that money from the obscenely wealthy and use it to establish the basic social systems, access to clean water, food, waste disposal, education, healthcare, power, transportation etc..., that enable functional economies and the ability to get out of the poverty cycle. In most of these countries where people live on less then a dollar a day, the problem is there is no economic framework to even live free from poverty and subsistence living.

that is exactly what half of the 8 most wealthy people are doing

 

[Royal_Phalanx]

We clearly need to cut taxes for these job creators /s

 

[Dartastic]

Make that three. I do actually know one.

Hey think they'll pay off my student loans please? That'd be super cool.

 

[Host Samurai]

Two people on this page know billionaires.

I'm having trouble believing that. Surely they're not that commonplace.

I live in NYC and grew up well. Something something circles.

 

[Salmonax]

This is so perfect.

 

[OG Shaka Zulu]

That gif is on point.

 

[Dr. Benton Quest]

At least the gulags won't be crowded

Hooooo!

I like the cut of your jib comrade.

 

[Muppet of a Man]

Everyone you've ever known or cared about lives on a broad plain, struggling to pay bills and provide for their families. There is no one around to protect them from environmental devastation or economic hardship.

Off in the distance, always visible, there is a tower rising from the plain. It is very narrow but incredibly tall.

.

 

[Damerman]

they need to cite George Carlin as a source.

 

[TyrantII]

But the free market, right?

Libertarians probably think this is a fair state of the world, because to them, every person is responsible for their own fortune.

The natural outcome of free markets is oligarchy and monopoly where effecientcies and innovation dry up and give way to rent seeking.

We've long know this in economic circles, and there has to be a counterbalance to it, otherwise capitalism crumbles under itself.

Unfortunately government has been captured as well. That make any meaningful reform impossible.

 

[Dr. Benton Quest]

GAF seems to have an abnormal amount of wealthy / well off financially individuals judging by a lot of threads

Also an abnormal amount of people with gigantic dicks and massive giant hands.

 

[Muppet of a Man]

The natural outcome of free markets is oligarchy and monopoly where effecientcies and innovation dry up and give way to rent seeking.

We've long know this in economic circles, and there has to be a counterbalance to it, otherwise capitalism crumbles under itself.

Unfortunately government has been captured as well. That make any meaningful reform impossible.

Exactly. Capitalistic competition only works to any significant extent where there is no market saturation/consolidation. It only works if there is a "blank canvas" so to say. Unless strong antitrust measures are actually enforced and not just used to pay lip service.

 

[Monocle]

I guess it's about time we roll the guillotines out again.

Then we can engage in polite reasoned discourse about the equitable distribution of their assets! I'm sure we would totally settle on the fairest solution for everyone.

Also an abnormal amount of people with gigantic dicks and massive giant hands.

Sorry, I couldn't hear you over the sound of the people across the street marveling at the tip of my majestic dingdong.

 

[Gutek]

People do not take this issue seriously enough. We are fucked and will have to resort to violence in about 20 years, if nothing changes.

 

[Lionel Richie]

Kinda ironic people are mocking free markets when the lower 50 percent are mostly from countries without free markets.

Yes, but it's a clear cut thing to put the blame on and you have a big issue (extreme poverty) being debated by people who mostly haven't really studied the subject so yeah it's practically inevitable.

 

[TyrantII]

http://www.forbes.com/billionaires/list/#version:static
75+67+60.8+50+45.2+44.6+43.6+40
That is 426.2 Billion dollars

Earth population is 7 Billion.
Half is 3.5

That gives 121.77 dollars per people

Take that as you will

edit : for reference, China has 1,3 billion people, India has 1,2 billion people and Africa (yes, the continent) has a population of 1,2 billion people

$121 is the yearly salary or more for a large number of people that don't live in the first or second world economies.

They literally live on those wages for a whole year.

Not that redistributing all the wealth is the answer.

But what happens when people's wages suddenly double? They tend to spend it directly on goods and services. Jobs and job creators see that demand, and rush to fill it. Wealth is created via the multiplier effect.

There's two legitimate ways to view economics.

Positive feedback or negative feedback. Economics vs accounting really.

Right now we're stuck in supply side negative feedback, where cutting the fat and being hyper weary of costs and inflation ends up driving down demand as company's sit on cash, wages stagnate, workers are let go, and equity is transfered off to the few who will never be able to spend it. Eventually it'll lead to a crash, since you are cannibalizing your customer base both directly and indirectly. Money is not moving into hands that spend it and lucrative investments are drying up.

 

[CarpeDeezNutz]

Two people on this page know billionaires.

I'm having trouble believing that. Surely they're not that commonplace.

I don't know a billionaire personally but I have met one in a funny way. I was with an older friend who delt in antiques and appraisals, we went to the Stockshows at Fort Worth just walking around and we sit for a bit. He sees someone he knows and runs to the guy and brings him back to our group (we were with some other people) introduces us to him and we talk for a bit, turns out to be Ed bass of the Bass brothers who are billionaires just walking around like a regular dude.

 

[Monocle]

People do not take this issue seriously enough. We are fucked and will have to resort to violence in about 20 years, if nothing changes.

People are complacent and not great at working out logical solutions to complex problems. How you do you begin to unravel this knot when a huge portion of the populace are deeply deluded and will support politicians who want to maintain the status quo?

I wonder if our best bet would be to somehow convince the billionaires to address this problem. They have infinitely more influence than the average person.

 

[John Kowalski]

I always see those things and ask : WHY ?

WHY someone need all that money ?

To make sure those who need it don't have it.

 

[Tain]

but nah we should keep supporting extremely capitalist politicians on both sides of the fence right

 

[TyrantII]

People are complacent and not great at working out logical solutions to complex problems. How you do you begin to unravel this knot when a huge portion of the populace are deeply deluded and will support politicians who want to maintain the status quo?

I wonder if our best bet would be to somehow convince the billionaires to address this problem. They have infinitely more influence than the average person.

You have the worst kind of crisis and hope the coin flips on a progressive new deal type swing in policy instead of a Hitler-esq type facism pushing scapegoats.

Thing is it really is a coin flip, and looking at all of history it's weighted to the latter.

 

[thefro]

It's a large forum with a wide age range and a generally educated demographic. it's no great surprise.

Yeah, if you know enough people you run into people who know someone who is important pretty quickly.

 

[mattiewheels]

I always find this one kind of telling. So the last time we let inequality run wild resulted in the Great Depression, then it's all, "Gee, I sure wonder what must've happened in 1981", lol. Reagan's policies sure did do their best to allow this to run rampant again after many decades of stability.

 

[Protein]

This image is great.

 

[snacknuts]

I always see those things and ask : WHY ?

WHY someone need all that money ?

 

[TemplaerDude]

Hey it's like medieval times again. Maybe we'll get knights and stuff too

I always wanted my own fiefdom.

 

[StayDead]

What this article doesn't take into account is that it trickles down. Fake news!

This liberal leftie media always blaming the people at the top than the lazy people at the bottom. Sad!

/s

 

[CyclopsRock]

These numbers are dodgy as fuck. Or, at the very least, not helpful. According to this, a Harvard graduate with a student loan, or a middle income American with a mortgage, is considered poorer than a Chinese farmer because they have negative wealth in the form of debt. Furthermore, it's hard to ignore the massive decline in world poverty fro? The start of the 20th century to now - it's unquestionably better now than it's ever been.

These guys basically recycle this story every January.

 

[True Savior]

And you know what's more obscene? Is that a big part of the population has been indoctrinated to think this is normal (and I'm not talking about the nutjobs).

Income inequality is by far the biggest problem of modern civilizations. You can see negative correlations with income inequality next to health and social problems indexes, child well being, level of government trust, drug use, life expectancy, education scores, homicide rates, even obesity or who recycles. It's crazy how the impact is huge and perforates all dimensions of a society, yet everyone is afraid to tackle it.

It's very easy to go against it (individual liberties) while defending solutions to the problem is usually seen as being radical (mostly because the only solution to tackle it is to go to the pockets of every single person). Contrary to many social problems, this affects everyone (both in the problem and in the solution). It's not something you can tag on facebook and hope awareness promotes more equality.

Individual redistribution doesn't work. Only central governments have the power to promote certain measures that maximize the effects of economic multipliers. Sadly Friedman won and countries have been abandoning keynesian policies.

 

[CyclopsRock]

I always find this one kind of telling. So the last time we let inequality run wild resulted in the Great Depression, then it's all, "Gee, I sure wonder what must've happened in 1981", lol. Reagan's policies sure did do their best to allow this to run rampant again after many decades of stability.

Do you know what this statistic represents? Because there's a similar one in the UK but obviously we have a progressive tax and welfare system, so when you look at net income and disposable income, inequality is actually falling. Not sure if the same would be the case in the US but just looking at gross (if that's what this graph is) only tells you part of the story.