Oct 242014
 
Credit Suisse study shows inequality accelerating, with NGOs saying it shows economic recovery ‘skewed towards wealthy’ http://www.theguardian.com/business/2014/oct/14/richest-1percent-half-global-wealth-credit-suisse-report   A model on a luxury yacht at a boat show in the port of Dalian. China now has more people in the top 10% of global wealth holders than any other country. Photograph: Johannes Eisele/AFP/Getty Images The richest 1% of the world’s population are getting wealthier, owning more than 48% of global wealth, according to a report published on Tuesday which warned growing inequality could be a trigger for recession. According to the Credit Suisse global wealth report (pdf), a person needs just $3,650 – including the value of equity in their home – to be among the wealthiest half of world citizens. However, more than $77,000 is required to be a member of the top 10% of global wealth holders, and $798,000 to belong to the top 1%. “Taken together, the bottom half of the global population own less than 1% of total wealth. In sharp contrast, the richest decile hold 87% of the world’s wealth, and the top percentile alone account for 48.2% of global assets,” said the annual report, now in its fifth year. The report, which calculates that total global wealth has grown to a new record – $263tn, more than twice the $117tn calculated for 2000 – found that the UK was the only country in the G7 to have recorded rising inequality in the 21st century. Its findings were seized upon by anti-poverty campaigners Oxfam whichpublished research at the start of the year showing that the richest 85 people across the globe share a combined wealth of £1tn, as much as the poorest 3.5 billion of the world’s population. “These figures give more evidence that inequality is extreme and growing, and that economic recovery following the financial crisis has been skewed in favour of the wealthiest. In poor countries, rising inequality means the difference between children getting the chance to go to school and sick people getting life saving medicines,” said Oxfam’s head of inequality Emma Seery. “In the UK, successive governments have failed to get to grips with rising inequality. This report shows that those least able to afford it have paid the price of the financial crisis whilst more wealth has flooded into the coffers of the very richest.” The $20.1tn rise in global wealth over the past year is the largest recorded since (more…)
Oct 192004
 
      F. William Engdahl is an award-winning geopolitical analyst, strategic risk consultant, author, professor and lecturer. He has been researching and writing about the world political scene for more than thirty years. His most recent works trace the strategies and events that led to the rise of the U.S. as an international superpower. He describes the emergence after 1945 of an American power as a new kind of Empire not based upon sole military occupation of land, but control of vital resources. Discussed are the origins and aims of GMO – Control of food by Globalist Criminal Corporations. Share this:FacebookLinkedInTwitterGoogleTumblrPinterestReddit (more…)