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Billions In Poverty

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#1 VictorMedvil


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Posted 08 October 2019 - 09:15 PM

"According to the Credit Suisse Global Wealth Report 2018, the top 1 percent of adults account for more than 47 percent of household wealth globally."




"Nearly 1/2 of the world's population — more than 3 billion people — live on less than $2.50 a day. More than 1.3 billion live in extreme poverty — less than $1.25 a day. 1 billion children worldwide are living in poverty. According to UNICEF, 22,000 children die each day due to poverty."





What do you think about this, do you think that there is something wrong economically with the world?

Edited by VictorMedvil, 08 October 2019 - 09:23 PM.

#2 Kardashev6


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Posted 08 October 2019 - 09:51 PM

Wealth distribution in today's society is an issue as you brought attention to. Utilization is the biggest problem in my opinion. Most of the world's wealth remains idle...selfishly hoarded whole seeking further roi (return on investment. Sure, part of the reason is so their family generations will benefit and be, "set for life". Still, a part also exists that us simply greed and wanting more. Enough...sadly, is never enough.

I understand philanthropy individuals do exist. I imagine not all actually sincere though. Tax and accounting strategies are motivators often. Lol, often large donations only go to, "Self controlled trusts" or other foundations giving the illusion of the money actually leaving their hands. The news headline reads the same in either event and they sleep well at night I suppose.

Wealth really cannot benefit needful worldly humans or animals if it is not utilized in a manner that allows it to. Sad indeed. I often hoped that Satoshi would anonymously donate his 700k bitcoins to charities that need it. 700k x $8k usd =5.6 billion usd. Of course, there is always the issue of mis-appropriation of funds. Many charities keep upwards of 90% of funds and only 10% actually makes it to needy hands:( I will not list (tarnish) any charity names here, the statistics are out there.

I wonder how much hidden wealth is out there across the globe? Priceless artwork, precious gem and coin collections, crypto currency, gold, land (land in regions of the world unlike others, say China and PRC improper land grants to high ranking state officials).

Boggles my mind just contemplating it!



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Posted 08 October 2019 - 09:59 PM

I think that if you look at history that top 1% used to be an infinitesimal fraction of %, so it's "better" now than in all of recorded history. Granted we have more humans alive now than were additively alive over the first half or so of that history so we do have larger numbers of impoveished on a purely magnitude scale...but by ratio prosperity is quite good.

You have to realize that just being a "poverty line westerner" like the gang-bangers in compton elevates you into one of the wealthiest humans in recorded history.

Not saying it couldn't be better, am saying it's currently a lot better than it was even 100 years ago, and far more so than in the eras before that. Economically speaking the world is becoming much better everywhere that's willing to invest in infrastructure. I suppose it all depends on exactly how much value you place on different things?