PCQ: What does this “news” tell us? Does it tell us that the 1% is talented. intelligent, and hard working people, while the 90% is dumb, unintelligent, and lazy?
Obviously, one does not need the experts with million dollars research to tell you that the 90% is full of intelligent, honest, hard working people, who work their butts out day and night. But why have they remained being poor?
As I analyzed several times in the past, it’s the statist system. The statist system itself, which is the product of the collusion between small group of individuals that protects and allows this small group of individuals to control the means of production, natural and financial resources. This system leaves all the rest with little choice but being forced working for them a.k.a governments or corporations for fixed wages and salaries.
Without the statist power that restricts me but protects them , I have no hate and no fear to these “rich” people. The 90% has been suffering because of their own belief. The belief that there must be the State and its government to run the society and take care of them, otherwise “chaos” will reign. This belief has allowed small group of psychopaths, many times some kids, to rule over billions people with “consent” throughout history. Yet, the names have changed. We now have more “representative democracies” around, but the structure of power remains the same.
“They” select, and you elect the representatives to rule over you! If you are not happy and protest, your representatives will oppress you, beat you up, jail you or even shoot you death! What a logic!
Genuine Democracy is the power of the people, people have power to govern themselves. People have power to lead their own life. Power to form free and voluntary associations, to conduct free and voluntary exchanges with one another. Power of the people does not mean people surrender their lives, their liberty and dignity to a top down structure of a small group of crooks and psychopaths called representatives.
Crisis after crisis. War after war. Hundreds of millions have been killed by the decisions of these people representatives. And right now, billions of lives are literally on the hand of a very tiny group of individuals, who, by a stroke of a pen or a word from their mouth, can send all of us to misery and to death.
Unfortunately, not only the majority ordinary people, but also intelligent people still believe in this statist system. The vertical structure of governing power, a.k. authority, is still the fundamental solution in their paradigm. Revolution after revolution have failed with statist model. But no lesson has been learned.
“Representative democracy” is an oxymoron and it defies logic. That’s why!
Richest 1% have more money than poorest half of world’s population
The wealthiest one percent owned 42.5 percent of global wealth in 2008, the bank reports.
“The downward trend reversed after 2008 and the share of the top one percent has been on an upward path ever since, passing the 2000 level in 2013 and achieving new peaks every year thereafter. According to our latest estimates, the top one percent own 50.1 percent of all household wealth in the world,” the report said.
“Global wealth inequality has certainly been high and rising in the post-crisis period,” according to the bank.
While the bottom half of adults collectively own less than one percent of total wealth, the richest ten percent owns 88 percent of global assets.
Last year saw 2.3 million people becoming new dollar millionaires. The total number of millionaires has increased to 36 million. “The number of millionaires, which fell in 2008, recovered fast after the financial crisis, and is now nearly three times the 2000 figure,” Credit Suisse said.
The poorest 3.5 billion people, who account for 70 percent of the working age population, each earn less than $10,000 and account for just 2.7 percent of global wealth.
Global wealth now stands at $280 trillion, and this figure is likely to be over $340 trillion in five years. On average, each adult owns $56,540.
You need to own $76,754 to be a member of the top 10 percent of global wealth holders and $770,368 to belong to the top one percent.