THE 1% ECONOMY: WORLD'S RICHEST 62 PEOPLE, NOW HAVE AS MUCH AS POOREST 3.6 BILLION, NEW OXFAM REPORT

[hfojvt]

14. where?

here are some numbers from the 2011 census of wealth

distribution using the medians
9.05% - less than ($8,610) - group A
9.05% - $8,610 to zero - group B
4.55% - zero to $1,679 - group C
4.55% - $1,679 to $4,999 - group D
2.4% - $5,000 to $7,113 - group E
2.4% - $7,113 to $9,999 - group F
3.3% - $10,000 to $16,039 - group G

the total (100%) is 118.7 million households. These seven poorest groups are 35.3% of all households.

Group A, we know has a negative net worth of less than ($93 billion). They are in debt rather than having ANY wealth.

Group D has a net worth of at least $9 billion.

Because of Group A and Group B the total net worth of all those groups combined - is still negative.

As a group they have ZERO net worth, but most of the members, even of group C have more net worth than that.

Group E has a net worth of at least $14 billion (118.7 times 0.024 times $5,000). We also know that they have less than $20 billion (118.7 times 0.024 times $7,113)

So I have total net worth for combined groups of

Group C + Group D + Group E + Group F = $43 billion to $85 billion
Group G = $39 billion to $62 billion

Any person with even a dollar in net worth has more net worth than those 35.3% of households combined, because the combination has less than nothing.

That is part of the way that Oxfam gets their amazing numbers, because people with negative net worth are always going to be in the bottom 50%.