The 62 Richest People On Earth Now Hold As Much Wealth As The Poorest 3.5 Billion

[cal04]

"No one credible will say this is good for the world or good for the economy."
http://www.huffingtonpost.com/entry/global-wealth-inequality_56991defe4b0ce4964242e09

Just 62 ultra-rich, mostly white men -- a list that includes Bill Gates, Warren Buffett, the Koch Brothers and the Walmart heirs -- have as much wealth as the bottom half of humanity. Five years ago, it took 388 rich guys to achieve that status.

The wealth of the richest 62 has increased an astonishing 44 percent since 2010, to $1.76 trillion. Meanwhile, the wealth of the bottom half of the world dropped by 41 percent.

“This is terrible,” Gawain Kripke, Oxfam's Policy Director, told The Huffington Post. “No one credible will say this is good for the world or good for the economy.”

While the wealthy might argue that their rising wealth is just a fabulous sign of economic prosperity (the "you're just jealous" rationale), the disproportionate growth at the top is keeping those on the bottom from climbing out of poverty, Oxfam notes in its report.

[tazkcmo]

1. The answer

to the question "What's wrong with America?" And it's not just America.



"The wealth of the richest 62 has increased an astonishing 44 percent since 2010, to $1.76 trillion. Meanwhile, the wealth of the bottom half of the world dropped by 41 percent."

[GummyBearz]

2. Just read this on a different website

The point I found most shocking was:

"Oxfam’s prediction — that the 1% would soon own more than the rest of us by 2016, actually came true in 2015, a year early"

[KingCharlemagne]

3. Yay, capitalism! /sarcasm/ - nt

[Lizzie Poppet]

4. And if not fixed peacefully by democratic rule...

...there will eventually be bloodshed. This is an untenable situation, and bloody revolutions have started over less. It's desperately important that leaders who will address this growing wealth concentration are elected.

[Bigmack]

5. Just fine until some people at the bottom start wondering what "Billionaire Stew" tastes like.... nt

[edhopper]

6. I will write my signature line in bold

Rich Mother Fuckers have too much fucking money!