Top 1% gain 2X the wealth as rest of world - a food and energy pricing plot

[Lastamender]

This was just published just the other day. It’s world wide not just US but it has some interesting stats on how much the top 1% grabbed the last few years. Basically the top 1% have colluded to raise prices on the world and netted $42 Trillion in wealth -more than 2X’s the gain of the remaining 99% of the world.

While you guys run around here and try to blame the poor for raising prices with their stimulus checks 3 and a half years ago the masters of industry laugh at you, take your money, and watch you fight for the scraps.

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth.

Billionaires have seen extraordinary increases in their wealth. During the pandemic and cost-of-living crisis years since 2020, $26 trillion (63 percent) of all new wealth was captured by the richest 1 percent, while $16 trillion (37 percent) went to the rest of the world put together. A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent. Billionaire fortunes have increased by $2.7 billion a day. This comes on top of a decade of historic gains —the number and wealth of billionaires having doubled over the last ten years.

Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 percent) of that to rich shareholders. The Walton dynasty, which owns half of Walmart, received $8.5 billion over the last year. Indian billionaire Gautam Adani, owner of major energy corporations, has seen this wealth soar by $42 billion (46 percent) in 2022 alone. Excess corporate profits have driven at least half of inflation in Australia, the US and the UK.

Those are the people our government works for. They no longer represent the citizen. You should be overjoyed they are doing so well.

 

[sealybobo]

Do you think that it is just what it is? Is there nothing you’d support to balance the equation a little?

I just posted this on another thread. So you’re talking about the top 1%. That’s $1 million a year. I always say my brother makes $1 million a year but probably most years not quite because it depends on stocks. So consider how many executives make $500k to $999k. They aren’t even 1%. But there are a lot of them in the United States. Anyways, I said

Let me give you my retired brothers example again. Vp of Fortune 500. 55 retired multi millionaire. His pay doubled in the last two decades. If that money went to workers like it used to, we’d be doing better but he would have to work another 10 years. But that’s ok. We’re living longer. It’s good to work.

 

[Lisa558]

Wealth is net worth and anyone can increase their net worth

And just about anyone can accumulate a net worth of $1 million or more:

1) Live BENEATH your means so you can save at least 10%, and preferably 15% of your income every year from your 20s until retirement. Even saving $4000 a year will give you almost $600,000 by your 60s, assuming 5% interest.

2) As soon as you‘re able, buy a modest home. (I bought a studio-style condo as my first purchase in my 20s.) Use the equity you’ve built up 10 years later for a down payment in a larger “forever” property, and have it paid off by age 60.

That’s it. Not too complicated.

 

[initforme]

And just about anyone can accumulate a net worth of $1 million or more:

1) Live BENEATH your means so you can save at least 10%, and preferably 15% of your income every year from your 20s until retirement. Even saving $4000 a year will give you almost $600,000 by your 60s, assuming 5% interest.

2) As soon as you‘re able, buy a modest home. (I bought a studio-style condo as my first purchase in my 20s.) Use the equity you’ve built up 10 years later for a down payment in a larger “forever” property, and have it paid off by age 60.

That’s it. Not too complicated.

Good advice. Staying single, working alot save save save. Don't do much for fun and avoid social stuff which might cost some $. If every young adult did this wow. Imagine how many could retire in their 50s. Imagine abortion goes away all on its own. Imagine people with no or little debt.

 

[Lisa558]

Good advice. Staying single, working alot save save save. Don't do much for fun and avoid social stuff which might cost some $. If every young adult did this wow. Imagine how many could retire in their 50s. Imagine abortion goes away all on its own. Imagine people with no or little debt.

Agree….except you can still do stuff for fun and enjoy social stuff. Just dial it back a bit.

 

[Blues Man]

Nothing is stopping any of you from increasing your own wealth.

it really isn't that difficult to be financially independent

And just about anyone can accumulate a net worth of $1 million or more:

1) Live BENEATH your means so you can save at least 10%, and preferably 15% of your income every year from your 20s until retirement. Even saving $4000 a year will give you almost $600,000 by your 60s, assuming 5% interest.

2) As soon as you‘re able, buy a modest home. (I bought a studio-style condo as my first purchase in my 20s.) Use the equity you’ve built up 10 years later for a down payment in a larger “forever” property, and have it paid off by age 60.

That’s it. Not too complicated.

Very true.

Save it in a Roth IRA and get all that money tax free in retirement

 

[Toddsterpatriot]

I just posted this on another thread. So you’re talking about the top 1%. That’s $1 million a year. I always say my brother makes $1 million a year but probably most years not quite because it depends on stocks. So consider how many executives make $500k to $999k. They aren’t even 1%. But there are a lot of them in the United States. Anyways, I said

Let me give you my retired brothers example again. Vp of Fortune 500. 55 retired multi millionaire. His pay doubled in the last two decades. If that money went to workers like it used to, we’d be doing better but he would have to work another 10 years. But that’s ok. We’re living longer. It’s good to work.

His pay doubled in the last two decades.

That's about a 3.5% increase a year.

 

[initforme]

Stay single. Don't get married until in your 40s. Save every penny during that time. Retire in your 50s. The new improved American dream.

 

[Lisa558]

Stay single. Don't get married until in your 40s. Save every penny during that time. Retire in your 50s. The new improved American dream.

Doesn’t work if you want kids.

But you can still live beneath you means and retire with a paid-off mortgage and close to $1 million in retirement savings.

 

[initforme]

Doesn’t work if you want kids.

But you can still live beneath you means and retire with a paid-off mortgage and close to $1 million in retirement savings.

Less and less people are having kids. They're starting to figure out how to get ahead. Not going to happen with a family.

 

[CrusaderFrank]

This was just published just the other day. It’s world wide not just US but it has some interesting stats on how much the top 1% grabbed the last few years. Basically the top 1% have colluded to raise prices on the world and netted $42 Trillion in wealth -more than 2X’s the gain of the remaining 99% of the world.

While you guys run around here and try to blame the poor for raising prices with their stimulus checks 3 and a half years ago the masters of industry laugh at you, take your money, and watch you fight for the scraps.

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth.

Billionaires have seen extraordinary increases in their wealth. During the pandemic and cost-of-living crisis years since 2020, $26 trillion (63 percent) of all new wealth was captured by the richest 1 percent, while $16 trillion (37 percent) went to the rest of the world put together. A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent. Billionaire fortunes have increased by $2.7 billion a day. This comes on top of a decade of historic gains —the number and wealth of billionaires having doubled over the last ten years.

Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 percent) of that to rich shareholders. The Walton dynasty, which owns half of Walmart, received $8.5 billion over the last year. Indian billionaire Gautam Adani, owner of major energy corporations, has seen this wealth soar by $42 billion (46 percent) in 2022 alone. Excess corporate profits have driven at least half of inflation in Australia, the US and the UK.

Biden's been very good to his WEF owners!

 

[Lisa558]

Less and less people are having kids. They're starting to figure out how to get ahead. Not going to happen with a family.

The problem is that the more educated, affluent people are having no kids, or perhaps one, while the lower classes on welfare are pushing out four and five.

 

[citygator]

Less and less people are having kids. They're starting to figure out how to get ahead. Not going to happen with a family.

Id argue there is no point to life by getting ahead without a family but to each their own. More than one way to do life.

 

[citygator]

The problem is that the more educated, affluent people are having no kids, or perhaps one, while the lower classes on welfare are pushing out four and five.

The premise of Idiocracy. Nice.

 

[Oddball]

This was just published just the other day. It’s world wide not just US but it has some interesting stats on how much the top 1% grabbed the last few years. Basically the top 1% have colluded to raise prices on the world and netted $42 Trillion in wealth -more than 2X’s the gain of the remaining 99% of the world.

While you guys run around here and try to blame the poor for raising prices with their stimulus checks 3 and a half years ago the masters of industry laugh at you, take your money, and watch you fight for the scraps.

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years | Oxfam International

The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth.

Billionaires have seen extraordinary increases in their wealth. During the pandemic and cost-of-living crisis years since 2020, $26 trillion (63 percent) of all new wealth was captured by the richest 1 percent, while $16 trillion (37 percent) went to the rest of the world put together. A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90 percent. Billionaire fortunes have increased by $2.7 billion a day. This comes on top of a decade of historic gains —the number and wealth of billionaires having doubled over the last ten years.

Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 percent) of that to rich shareholders. The Walton dynasty, which owns half of Walmart, received $8.5 billion over the last year. Indian billionaire Gautam Adani, owner of major energy corporations, has seen this wealth soar by $42 billion (46 percent) in 2022 alone. Excess corporate profits have driven at least half of inflation in Australia, the US and the UK.

The top 1% are nearly all on your team, chump.

 

[BackAgain]

Itsa conthpirithy!

 

[initforme]

Id argue there is no point to life by getting ahead without a family but to each their own. More than one way to do life.

There's travel, nice cars, having little hanging over ones head at home. Alot less debt. No spouse arguments, independence, the list goes on. There are definite uses and more people are seeing it. The trend will only get stronger.

 

[Lisa558]

Id argue there is no point to life by getting ahead without a family but to each their own. More than one way to do life.

So if there’s no point to life without having kids, should all single people kill themselves?

What about other contributions to society, via work creations, volunteering, charitable donations, and helping or adding joy to one’s extended family?

And what about travel and exploring new cultures, taking classes and expanding one’s knowledge, giving a home to an animal (or two) in need? What about helping out with civil or religious events? What about being a good friend?

But if you don’t think there’s any point to that and I should just kill myself, let me know. I’ll wait.

 

[citygator]

So if there’s no point to life without having kids, should all single people kill themselves?

What about other contributions to society, via work creations, volunteering, charitable donations, and helping or adding joy to one’s extended family?

And what about travel and exploring new cultures, taking classes and expanding one’s knowledge, giving a home to an animal (or two) in need? What about helping out with civil or religious events? What about being a good friend?

But if you don’t think there’s any point to that and I should just kill myself, let me know. I’ll wait.

i said family. They come in all shapes and sizes. Kids aren’t for everyone. I’d argue a family is. Just my opinion.

 

[initforme]

So if there’s no point to life without having kids, should all single people kill themselves?

What about other contributions to society, via work creations, volunteering, charitable donations, and helping or adding joy to one’s extended family?

And what about travel and exploring new cultures, taking classes and expanding one’s knowledge, giving a home to an animal (or two) in need? What about helping out with civil or religious events? What about being a good friend?

But if you don’t think there’s any point to that and I should just kill myself, let me know. I’ll wait.

Great post.