Worlds richest 1% to own more than everyone else put together

Pincher

Conrad wrote: »

Is it true that just £530k in net wealth to include ones main home puts you into the 1%?

According to BBC Newsnight on Monday, apparently so.

redux

Conrad wrote: »

Of course there are billions of peasants but I would think more like 10%+ of the worlds population have £530k in wealth, not 1%.

Right across Britain are vast numbers of houses at £400k +, from Monmouth to Shropshire, Gloucester to Chepstow, Cambridge to Northants, Southampton to Bracknell, Scottish Lochs to Brecon Beacons, Saffron Walden to Cheshire, Ledbury to Exeter.

You started this post by mentioning you have a business interest in mortgages.

Surely not all of the £400,000 value houses denote £500,000 of wealth per person living there.

About a million total net wealth is needed to be in the wealthiest 10% of UK households, so your assumption probably doesn't even hold here, let alone worldwide.

ruggedtoast

N1AK wrote: »

Likely because the arguments against it are generally anti-elitist, and based more on making the rich suffer than on helping the poor; the few arguments that rise above that context get about as far as jealously and proposals for state-mandated theft.

As this article points out just about anyone with a decent pension pot, or who owns a home in London is part of the global 1%. UK citizens didn't earn their comparative luxury by being any harder working than those starving in Syrian refugee camps, yet I don't hear them demanding that their money be redistributed down? They want redistribution from other to them and others being better off is just a convenient excuse.

I'm entirely in favour of policies that bring about greater equality, but not if they do it by just dragging down the peaks or by harming long term universal growth.

Quite right. God forbid anyone starving in a Syrian refugee camp might be allowed to threaten the peaks.

ruggedtoast

If capitalism it to endure as an ideology, the people at the bottom have to think there is some reasonable expectation that they can benefit too.

On Radio 4 this morning they said that 86 individuals alive today hold more wealth than the poorest 3 and a half billion combined.

CLAPTON

ruggedtoast wrote: »

If capitalism it to endure as an ideology, the people at the bottom have to think there is some reasonable expectation that they can benefit too.

On Radio 4 this morning they said that 86 individuals alive today hold more wealth than the poorest 3 and a half billion combined.

capitalism isn't an ideology : it is an explanation of how things work in practice under some circumstances

the people at the bottom have benefited enormously from a mixed style economy (which includes some capitalistic elements, which is why you enjoy one of the highest standards of living in the world however undeserved.

antrobus

Conrad wrote: »

.....

UK WORST IN Europe - why do people keep on coming here?

.....

• 
  •Biggest alcohol drinkers
  
  ....

Well that one's wrong.:)


The average Briton consumed 10.2 litres of alcohol .... per head in 2010.



Which was less than Denmark, Slovenia, Slovakia, Belgium ..... Actually there 17 European countries who drink more alcohol.



http://www.ias.org.uk/Alcohol-knowledge-centre/Consumption/Factsheets/Alcohol-consumption-in-the-European-Union.aspx

Linton

Conrad wrote: »

...

Right across Britain are vast numbers of houses at £400k +, from Monmouth to Shropshire, Gloucester to Chepstow, Cambridge to Northants, Southampton to Bracknell, Scottish Lochs to Brecon Beacons, Saffron Walden to Cheshire, Ledbury to Exeter.
...

Just had a look on Rightmove. Within 10 miles of where I live there are 488 houses which have been put up sale in the past 2 weeks. 14 are above £500K and 38 above £400K. The median is a tad under £190K for modern 4 bedroomed semis though the cheapest 4 bedroomed detached just come down to that figure.

chucknorris

antrobus wrote: »

[/LIST]
Well that one's wrong.:)


The average Briton consumed 10.2 litres of alcohol .... per head in 2010.



Which was less than Denmark, Slovenia, Slovakia, Belgium ..... Actually there 17 European countries who drink more alcohol.



http://www.ias.org.uk/Alcohol-knowledge-centre/Consumption/Factsheets/Alcohol-consumption-in-the-European-Union.aspx

But 2010 was when I was doing my tour of Denmark, Slovenia, Slovakia and Belgium, I've been back in the UK since then (hic).

Pincher

Conrad wrote: »

UK WORST IN Europe - why do people keep on coming here? untries

It's the Sodom and Gomorrah effect.


We have become El Rey, the place to go after a Bank robbery in From Dusk Till Dawn. We are the favourite bolt hole for the Russian oligarchs. The joke is, they steal billions, and our cut is peanuts. The real El Rey charges 30% of the loot.

ging84

This has nothing to do with the rich getting richer, purely down to the poor having a much higher birth rate.
population growth for the poorest people is significantly higher than for the rich, so what happens is, if you take the poorest 80% the next generation they become the poorest 90%, then the poorest 95%, and part of the reason for these high rates of population growth in the poorer nations is that people have children at a much younger age, so a generation to the wealthy might be 30-35 years, to the poor it can be 15-20 years. So many of those kids Bob Geldof was trying to feed in the 80s, are in their early 30s, and can have around 30 grand kids, none of who have 2 pennies to rub together.
The majority of the wealthy are now quite elderly, which to a certain extent is always the case, but for the current generation of elderly, they have been the largest increase in life expectancy ever, during their life time, so they have had the longest amount of time to accumulate wealth, and their heirs have had to wait the longest time to inherit but these people cannot live forever, soon we will start to see a bit of a redistribution of wealth as these people die, and then when those heirs start to die, not so long after we are likely to start to see a much more significant redistribution, unless we see another big leap in life expectancy.