Wealth – where is it?

Oxfam produce some interesting stats in their work.  Particularly about distribution of wealth.

It wasn’t too long ago I read them saying that 50% of the world’s wealth was owned by just enough people to fit on a London double decker bus (approx 70).  Now only a few years later that number has tumbled –  to 8!   If the trend continues in a few years it’ll be 1 or 2 people.   How have we come to a world of such great inquietude?

Couple this with that Oxfam also say that 1% of the world’s population has as much as they other 99%.  In fact I’m probably if not in that 1% I’m close to it – like many other middle aged people who’ve bought their own house and ferreted away some savings in Western Europe or North America.  I’m not rich in that I can’t consider buying multiple houses, yachts, supercars etc. but I am actually super rich compared with the vast majority of the world.  I have a house, car, savings, enough clothes for a month of daily changes and a fridge and freezer stuffed with food to feed my family for weeks.  That is riches beyond many people’s comprehension.  That’s before you consider welfare, healthcare and the freedoms I have to be who I want to be and say what I want to say.

And still I hear we have to make cuts in education spending, revise and radically change how we spend on healthcare etc.  In the UK councils are slashing social care budgets and many many services for the disadvantaged only run due to the army of volunteers that do stuff for free or virtually nothing – themselves potentially slipping into poverty as carers etc.  I watch programmes about carers under 10 having to care for a sick parent, cleaning and cooking when they should be playing and studying but we can’t afford to pay someone to take this responsibility away from them.  We give £10 to a charity so the kid gets an hour a week at a trampoline park. Really? And heaven forbid we open our borders to let in those that have no opportunity to any kind of life in countries ravaged with corruption, famine and war.

I offer no solution but I really don’t think the ruling class we have in positions of power at the moment make me think anything will change in this inexorable rise of wealth from the bottom to the top.  From Blair to Cameron, from Trump to May, from Farage to Osborne etc. they are all wealthy privileged people clearly who are very clearly in that 1% and they seem to want to help give more of the world to that rugby scrum of rich men at the top who have bank accounts that would make many calculators produce Err on the summation.

About furtheron

Music and guitar obsessive who is a recovering alcoholic to boot
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5 Responses to Wealth – where is it?

  1. What irks me is that I work my butt off to pay an exorbitant amount of taxes – on my paycheque, on my purchases, gas, land taxes etc. I’m lower middle class, I have my own home (with a mortgage so realistically the bank owns it). I pay a ridiculous amount per year/month on land taxes and hydro and after all of that I live paycheque to paycheque. I support small local businesses as I can, and farmers markets and home based businesses. If I had more expendable income then I would support those more, which would help local economy.

  2. I know where it isn’t.

  3. Trump wants to slash environmental budget, he already got rid of some coal and gas regulations, getting rid of the health care, slashing social programs, and building a billion dollar wall.
    Things are great over here!

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