… have wealth equal to that of half the population: report

Just how rich are they? According to a new report by Oxfam, their total fortunes are equal to as much as half of that of the world’s population.

The report, which analyzes a number of studies to highlight the world’s growing economic inequality, was intended as a precursor to the World Economic Forum, which begins in Switzerland this week.

… the wealth of the richest keeps growing, while the bottom 90 per cent (i.e. most of the rest of us) keeps shrinking. …

Globe and Mail

NOT sustainable.

NOT an efficient use available cash.

Most of those 85 don’t deserve to be more than piddly millionaires.

Our system is not working.

Here’s the original report that came up with that stat — Oxfam – Working for the Few – Political capture and economic inequality

This kind of headline is bad news for the Tea Party crowd. It’s damage control time for the extreme right wing. Drudge linked to a conservative site claiming the actual statistic is that the 85 richest people own about 0.7% of the world’s wealth.

I trust Oxfam.