[–] [deleted] 0 points 17 points (+17|-0) ago  (edited ago)

[Deleted]

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[–] Microcosm 0 points 5 points (+5|-0) ago 

Exactly! Think about it this way: if you earn more than $35k you are in the top 1% globally. For real. The number is that low. That is how much poverty exists in the world.

So it's like the top 1% of 1%. A super small group whose wealth grows exponentially no matter if markets rise or markets fall. Why? Because they always control both sides of the issue/market/bank/war.

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[–] SlipperyChicken ago  (edited ago)

How can 35k put you into the top 1% globally? 1% of 7 billion is 70 million. ~70 million is the largest number of people that could possibly constitute the 1%. There are more than 70 million people that make 35k. The US alone has 150 million workers in the labor force. The average wage is about 25k. Europe has about 500 million people, so their work force is probably around 200 million? So between Europe and the US you have ~350 million workers. There is no way that 35k puts you in the top 1% because that would mean we'd have more than 70 million people in the top 1%. That's only factoring in Europe and the US. It doesn't include Japan, Australia, South Korea, China, Russia, or the Middle East oil states. The math doesn't work out. You can't have more than 70 million in the top 1%

This article says you need to have about half a million pounds of net worth to be in the top 1% in the world. You'd have to own a house outright (with no mortgage) and then also have other assets on top of that. Now maybe if you make 35k a year you could potentially, eventually, find yourself in the top 1%. If you're just making 35k a year with a mortgage or rent, you aren't in the top 1%.

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[–] Molo66 1 point 0 points (+1|-1) ago 

They're REPTILIANS! I KNEW IT!

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[–] Vhaine 2 points -1 points (+1|-2) ago 

Also, the last few generations have been pretty fucking lazy and self entitled. People have this assumption that middle class status is something you can sleep you way through college and obtain. It no longer is. Large concentrations of wealth have always been a thing, but there is a real and palatable depression on wages. I'm sure bringing in tens of millions of what is essentially wage serfs from south America has absolutely NOTHING to do with the devaluation of your labor's value though. So called "free trade" agreements only promise to make it worse. So feel free to continue voting open boarders mister union organizers.

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[–] Cap_Dec 0 points 4 points (+4|-0) ago 

They set themselves up with healthy pensions whose growth was unsustainable. 17 trillion in debt that they will never have to pay back. I'd say they screwed us yeah.

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[–] 1851074? 0 points 2 points (+2|-0) ago 

Your confusing the banking system scam with what regular people have control over (which is very little).

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[–] Cap_Dec 0 points 1 point (+1|-0) ago 

I'm not sure about that. There are people in control of those institutions after all, just as there are in govt. it's simply a matter of the different generations cycling through them. The greatest generation and the baby boomers have just not done a good job of taking care of future generations, or the very least giving them the consideration that they themselves were given.

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[–] MarcoVincenzo 0 points 2 points (+2|-0) ago 

They are ignoring inflation and population growth; there's no way they can make an honest assessment.