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The shocking differences in wealth disparity

The world - certainly those in the West or in so-called First World countries - risk community upheaval if the tide of wealth disparity continues unabated, as now.    The latest stats on wealth disparity make for sober reading and are truly shocking - even if not surprising!

"Global wealth inequality continues to rise, according to a new study from Credit Suisse, with the richest 10 percent now owning a full 89 percent of all global assets.

The annual assessment (.pdf) from the Zurich-based financial services company finds that while the world was trending toward greater equality until 2008, the financial crisis halted that trajectory. The report reads:

Our calculations indicate that the top 1 percent of global wealth-holders started the millennium owning 49.6 percent of all household wealth. This share declined slowly and steadily until it reached 45.4 percent in 2009. The downward trend then reversed and the share rose each year, passing the 2000 level in 2014. We estimate that the top percentile now own 50.8 percent of global household assets.

Similar patterns emerge when looking at the top five and 10 percent of global wealth-holders. The numbers of millionaires and "ultra high net worth individuals" have also risen sharply. Meanwhile, the report estimates that 3.5 billion individuals—73 percent of all adults in the world—have wealth below $10,000 USD, and about 1 billion people—the bottom 20 percent of adults—own no more than $248 USD."

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