It’s A ‘0.6%’ World: Who Owns What Of The $223 Trillion In Global Wealth

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It’s A “0.6%” World: Who Owns What Of The $223 Trillion In Global Wealth (ZeroHedge, June 2, 2013):

Back in 2010 we started an annual series looking at the (re)distribution in the wealth of nations and social classes. What we found then (and what the media keeps rediscovering year after year to its great surprise) is that as a result of global central bank policy, the rich got richer, and the poor kept on getting poorer, even though as we predicted the global political powers would, at least superficially, seek to enforce policies that aimed to reverse this wealth redistribution from the poor to the rich (a doomed policy as the world’s legislative powers are largely in the lobby pocket of the world’s wealthiest who needless to say are less then willing to enact laws that reduce their wealth and leverage). Now that the topic of wealth distribution (or rather concentration) is once again in vogue, below we present the latest such update looking at a global portrait of household wealth. The bottom line: 29 million, or 0.6% of those with any actual assets under their name, own $87.4 trillion, or 39.3% of all global assets.

Here are the key highlights via Credit Suisse:

1 thought on “It’s A ‘0.6%’ World: Who Owns What Of The $223 Trillion In Global Wealth”

  1. Can’t help but wonder how much of the trillions actually exist. We have a world economy that claims to generate $50-65 Trillion a year GDP. Since much of that is based on leveraged funds, Enron Accounting is how the world now keeps it’s books…….how much really exists once the air and gas is let out of the balloon. Half of that? A third?
    How much of that GDP is based on things of mortal value like food, clean water, fuel, etc……not just financial sheets that build nothing of value off paper.
    In 1995, Financials made up about 16% of US GDP. By 2008, it was up to 63%. That is a pretty scary statistic, one that I still remember. Financials don’t build much these days, they are essentially all gambling funds. If the banks lose a bet, they go to the FED for more funds, if they win, they pocket the profits. None of it goes into the real economy, none is loaned on homes or businesses. Home and business loans are packaged and sold on Wall Street offering XYZ returns to investors. If the package crashes, the loss is given to the FED (the US taxpayer). The same with auto and credit card loans. None of this was fixed after the crash of 2007-08, it is still going full steam ahead.
    So, how much of this many hundreds of trillions of dollars is real? That is the elephant in the room, and it gets fatter and heavier each year. Nothing has been done to fix a damn thing.
    No wonder other nations won’t invest here any longer. Would you?


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