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The New (Ab)normal: When 200 People Have More Wealth Than 3,500,000,000

Tyler Durden's picture




 

The following brief video created by TheRules.org, using data sourced from this website, is the latest vivid demonstration of the most adverse (and dangerous) side effect of nearly five years, and counting, of global monetary intervention by central banks: a world in which the poor get poorer, the rich get richer, and the middle class disappears. The video's punchline "The richest 300 people on earth have as much wealth as the poorest 3 billion" is not exactly correct: in truth the situation is even worse: the richest 200 people have about $2.7 trillion, which is more than the poorest 3.5 billion people, who have only $2.2 trillion combined.

Of course, at that point details are irrelevant. The backup for the other facts used can be found here, although the conclusion hardly needs defending: the kind of wealth imbalance currently exhibited in the world is the stuff French revolutions are made off... and will be again, as soon as the final gate holding back generations of pent up anger and "financialization" (in which the middle class is robbed to make the "200" even wealthier) - the realization that the welfare state is broke and gone, just like tens of thousands of Detroit pensioner and retirees found out there hard way last week.

For more on the latest breakdown in global wealth, see "It's A "0.6%" World: Who Owns What Of The $223 Trillion In Global Wealth"

 

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