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1% own 58% of Thailand's total wealth !

Roger · 19 · 724

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Online Roger

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and that's the 3rd highest % in the World !
Russia tops the list with the top 1% owning 74 % of the country's wealth.

http://www.bangkokpost.com/learning/advanced/1147468/
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Offline Anton

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and that's the 3rd highest % in the World !
Russia tops the list with the top 1% owning 74 % of the country's wealth.

http://www.bangkokpost.com/learning/advanced/1147468/

"Communist" China above the masters of capitalism in the list. The world upside down.

Thanks God Trump is there to straighten the situation out and, to use Wizard's words: "Make America Great Again" (i.e. put it back on top of that list as soon as possible).
« Last Edit: November 30, 2016, 09:55:22 PM by Anton »
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Online Roger

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Yes Anton - interesting to see that above the USA in that list there are 2 ''mega'' Nations both with long term Communist/Socialist histories - Russia and China. (Russia's top position being fuelled by it's oil boom ?) - that makes an ole' Leftie like me wonder !

Russia, China and the USA, the three undoubted 'Super Powers', all figure in that top 9 !

The other 6 could be classified as among 'later developing industrial economies' with no other titan economies of the Western World figuring. Can we conclude that developing industrial economies might be developing mainly on the backs of the poor ?

It's only 'statistics' I know and maybe flawed - but interesting.

(Your reply made me look again - thanks).

Coming back to third placed Thailand - in 2000 the average inequality was $3350 and in 2016 that had grown to $8391. MMMMmmmmmmmmmmmm...
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Offline Anton

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interesting to see that above the USA in that list there are 2 ''mega'' Nations both with long term Communist/Socialist histories - Russia and China

Leave Russia out: their wall crumbled down 27 years ago, that's history by now. But China is still officially a communist country ruled by single party. Think about it: this statistic, if true, is the real historical sneer to communism, even worse than the fall of the wall.
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Online Roger

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Prof. Stephen Hawking on another aspect of inequality:-

''...... we are at the most dangerous moment in the development of humanity. We now have the technology to destroy the planet on which we live, but have not yet developed the ability to escape it. Perhaps in a few hundred years, we will have established human colonies amid the stars, but right now we only have one planet, and we need to work together to protect it.''

https://www.theguardian.com/commentisfree/2016/dec/01/stephen-hawking-dangerous-time-planet-inequality
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Offline Anton

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One of my friends to whom I told about this report pertinently remarked that it would be interesting to know how wealth is distributed among that richest 1% in each country.

Another observation is that India and Thailand are almost even in the list, thus saying "Thailand is third" sounds a bit euphemistic to me, in fact it is second with India.
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Online Roger

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Anton - joint second if you want or in fact, third behind India by a small margin.
I was surprised that inequality in Thailand had increased 150% from an average $3350 in 2001 to $8391 in 2016. Thaksin with his reputed concern for the poor was PM for 6 years during 2000 - 2016. I wonder how inequality faired between 2001-6 and 2007-16 ?
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online caller

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Thaksin with his reputed concern for the poor was PM for 6 years during 2000 - 2016. I wonder how inequality faired between 2001-6 and 2007-16 ?

One of the reasons he's no longer PM is daring to challenge the status quo, it might, to a degree, have shifted where the wealth ended up. That was clearly a threat. And I don't mean to imply by that he was some sort of Robin Hood.


Offline Anton

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it would be interesting to know how wealth is distributed among that richest 1% in each country

Is there any similar report focusing on the 1‰ instead of the 1%? How would that list look like? This is about the USA situation as per last April:


Is the 1% Really the Problem?

"We are the 99 percent" is a great slogan, but is it distracting our attention from a sinister reality? There’s strong evidence that it’s not the 1 percent you should worry about—it’s the 0.1 percent. That decimal point makes a big difference.

Over the last decade, a gigantic share of America’s income and wealth gains has flowed to this group, the wealthiest one out of 1,000 households. These are the wildly exotic and rapidly growing plants in our economic hothouse. Their habits and approaches to life are far divorced from the rest of us, and if we let them, they will soon cut off all our air and light.

(...)

Some lower-uppers are beginning to realize that their natural allies are not those above them on the economic ladder. They are getting the sense that the 0.1 percent is its own hyper-elite club, and lower-uppers are not invited to the party. The 0.1 percent has pulled away because at the tippy top, income has grown much faster than it has for the rest of the affluent.Unlike the lower-uppers, the super-rich folks are armed with every tax dodge in universe: they aren’t expected to pay nearly their share to Uncle Sam. Their income comes largely from capital gains, which are taxed at a far lower rate than income earned from working. As their money piles up higher and higher, their conspicuous consumption knows no bounds—they are building palatial homes and massive art collections and even gold-plated bunkers to protect themselves in case of an uprising. Many don’t really ever put down roots in communities; they roam from New York to London to Dubai to the Cayman Islands, following the favorability of weather and tax codes.

All told, the 0.1 percent now owns about as much wealth as the bottom 90 percent of America combined. And that’s just the official numbers. Plenty of their wealth is parked overseas and in places where it’s hard to get an accurate count of what they’ve accumulated. To get into the club, which comprises around 115,000 households, you need to start with a nest egg of $20 million—and that’s at the very bottom of the super-rich group. George W. Bush just barely makes the cut. He’s very rich, but not among the highest fliers in today’s second Gilded Age.


AlterNet full article
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Offline Anton

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"Communist" China above the masters of capitalism in the list. The world upside down.

This piece of news came out about 1 week after the Credit Suisse report. Pure coincidence?

China unveils crackdown on companies investing overseas

The Chinese government has embarked on a nationwide crackdown against sham overseas direct investments, China's State Administration of Foreign Exchange (SAFE) said on Tuesday, following rumors that the regulators set $5 million cap on all capital flowing out of the country.

CNBC full article

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Online Roger

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More on the topic of inequality - it's the way it is but this can't be right can it ?

''Oxfam said the world’s poorest 50% owned the same in assets as the $426bn owned by a group headed by Gates, Amancio Ortega, the founder of the Spanish fashion chain Zara, and Warren Buffett, the renowned investor and chief executive of Berkshire Hathaway''.

https://www.theguardian.com/global-development/2017/jan/16/worlds-eight-richest-people-have-same-wealth-as-poorest-50
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online caller

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More on the topic of inequality - it's the way it is but this can't be right can it ?

''Oxfam said the world’s poorest 50% owned the same in assets as the $426bn owned by a group headed by Gates, Amancio Ortega, the founder of the Spanish fashion chain Zara, and Warren Buffett, the renowned investor and chief executive of Berkshire Hathaway''.

http://www.theguardian.com/global-development/2017/jan/16/worlds-eight-richest-people-have-same-wealth-as-poorest-50

It could well be right, but I certainly wouldn't trust Oxfam as a source. In fact, I don't even trust them as a charity and don't donate to them any more.


Online Roger

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Hi Caller.
Well I get that. I became 'disenchanted' with the 'Charity Industry' decades ago when I saw the salaries they were offering to their senior 'Jobsworths' and their 'cold callings'. Even as a poor young Man I used to give half of every bonus to Charity. Not now.
BUT, I doubt given the spotlights that Oxfam must face, that these figures are more than a significant amount out.

And the whole issue of Inequality is very serious IMHO
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online caller

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Its more to do with how they operate in the field that bothers me. And I think they have no place in politics.


Offline KiwiCanadian

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This is along the same lines and shows how this is "World Domination by the Red Shield Family"

It shows how NZ's now Ex prime minister was "Brought In" for the job, from the Family.

http://www.wakeupkiwi.com/downloadpapers/WakeUpKiwi_NewZealandandWorldBankingPaper.pdf

This document not only shows particular ties to NZ & Australia, but the rest of the world & why we have the wars that we have today.
I used to have a handle on life........but it broke


Offline Aussie

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 I have known about the Rothschild’s and the Central Banking systems for years, however the link you have posted is a brilliant piece of research exposing our fraudulent and dangerous banking system for what it is. Thank you for the posting, it is illuminating.
Regards
“The equal rights of man, and the happiness of every individual, are now acknowledged to be the only legitimate objects of government.”
― Thomas Jefferson,


Online Roger

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Stunning - Phuket's average monthly income is now around GBP 40    :o

"Phuket’s poverty line back in 2019 was at 3,068 baht per month. Since the pandemic, the number of employed people in Phuket has risen to 64,000 people and the average income has dropped to 1,900 baht per month, according to Associate Dean for Research and Graduate Studies at PSU Phuket’s Faculty of Hospitality and Tourism, Chayanon Pucharoen."

https://thethaiger.com/news/phuket/phuket-unemployment-rates-rise-average-monthly-income-drops?
''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein


Online caller

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Stunning - Phuket's average monthly income is now around GBP 40    :o

That's not true. There have a been a few articles about this, but I can't find any. Thailand = lazy journalism. The  figure represented something else, but was misquoted as average income and that has been copied without checking everywhere else. Hopefully  someone else here will have info about this.


Online Roger

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Thanks Caller.  Just anecdotal but a Friend who has a town house in Phuket, recounted from his last visit, post wave 1, that many Folks were broke - he was lending notes to one or two Neighbours to buy some rice !

Neither the previous B3068 or the present B1900 seem credible as monthly incomes - it'd be good to see some solid figures. However if a 33% drop is correct, from whatever the right figures are, I'm a bit surprised that the 'drop', it's not higher.


''If you can't explain it simply, you don't understand it well enough'' - Albert Einstein