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Global Wealth Pyramid: 0.7% of the people are doing it right; The rest just don't get it
Topic Started: 11 Oct 2013, 01:15 AM (537 Views)
Foxy
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Zero is coming...

http://www.businessinsider.com.au/global-wealth-pyramid-2013-10?nr_email_referer=1&utm_source=Triggermail&utm_medium=email&utm_content=emailshare

You don't get rich spending all your money on consumption.

Peter from
Gnarabup
:pop:
http://www.afr.com/content/dam/images/g/n/2/1/u/8/image.imgtype.afrArticleInline.620x0.png/1456285515560.png
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Kulganis
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All that says to me, is that the entire global economy is a giant ponzi scheme, which I already knew.

I just didn't think anyone would be bold enough to tweet an infographic of it, least of all a group like Credit Suisse.

An inverted pyramid wouldn't work, there wouldn't be anyone to generate the wealth for those above them.

It's not that 0.7% of people are doing anything right, it's that via family or luck, they are best placed to be the wealth absorbers, while the rest of the people are the wealth generators.

Too bad global population growth rates began slowly declining in 1963.
"If man is to survive, he will have learned to take a delight in the essential differences between men and between cultures. He will learn that differences in ideas and attitudes are a delight, part of life's exciting variety, not something to fear." - Gene Roddenberry

"Balloon animals are a great way to teach children that the things they love dearly, may spontaneously explode" -- Lee Camp
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goldbug
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".7% of the people are doing it right; the rest just don't get it."

Well considering that the world has finite wealth, and that it would be impossible for the other 99.3% to "get it" anyway, I think 0.7 is a realistic proportion for this stage of the fossil fuel age. The figure is probably similar to what it was cica 1920 or 1930.

But wealth is a relative thing. To a billionare it may be personal wealth in hundreds of millions, sequestered into safe assets away from their business liabilities. And around here, the forum, having $10,000 in the bank and a debt of a million dollars against rental properties hanging around your neck is considered wealth. In reality that is just the potential to become moderately self funded in retirement. And considering the economic state of the world compared to when most people embarked on that journey, the potential has taken a real mauling.



Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Foxy
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Zero is coming...

goldbug
11 Oct 2013, 07:22 AM
".7% of the people are doing it right; the rest just don't get it."

Well considering that the world has finite wealth, and that it would be impossible for the other 99.3% to "get it" anyway, I think 0.7 is a realistic proportion for this stage of the fossil fuel age. The figure is probably similar to what it was cica 1920 or 1930.

But wealth is a relative thing. To a billionare it may be personal wealth in hundreds of millions, sequestered into safe assets away from their business liabilities. And around here, the forum, having $10,000 in the bank and a debt of a million dollars against rental properties hanging around your neck is considered wealth. In reality that is just the potential to become moderately self funded in retirement. And considering the economic state of the world compared to when most people embarked on that journey, the potential has taken a real mauling.



it can take generations to gather the knowledge to have wealth.
It is not the assets or the money.
Those things are only the evidence of knowledge.
Think of it as inheriting someones medals or tropheys does that make you good at the sport your mother or father was good at?
Does that make you brave to inherit you father or mothers medals for bravery?
It may make you proud, but it can't make you brave.
It may make you proud of your relatives sporting achievements but it can make you good at that sport.
You can't be a master baker by buying a master bakers bakery.
Wow.
Peter from
Gnarabup
:D


http://bau.live.irmau.com/IRM/Company/ShowPage.aspx/PDFs/1263-13500484/BauxiteResourcesMinesandMoneyBeijingPresentation
Edited by Foxy, 11 Oct 2013, 04:53 PM.
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