July 29 2014 - The Global Wealth Gap is by all Measure Widening.. The Middle Class have all but been already Wiped Out.. A very SMALL handful Control ALL Wealth.. The rest have BARELY ENOUGH to get by.

Rich get richer, income gap widen, 

The Rest Have Barely Enough To Get By..

by truth on June 25, 2014

(Reuters) – As tension over inequality simmers, persistent cash hoarding by multinationals and the super-rich may be one measure of how seriously attempts at remedial action are being taken.
The political heat over soaring income and wealth gaps in the United States, Britain and much of the developing world has built up since the credit shock and global recession of 2008/09.

Even though protest groups such as Occupy failed to gain traction much beyond 2011, the evidence of inequality continuing to balloon so soon after such a seismic economic bust has refocussed the minds of economists, politicians and voters.
There’s little doubt the richer are getting much richer.
Last week’s annual CapGemini/RBC survey of investors worldwide showed the number of households with more than $1 million in invest-able wealth rose almost 15 percent to 13.7 million in the year through 2013. Their total wealth rose almost 14 percent to $53 trillion, it estimated.
Both the ranks of the rich and their collective wealth have now risen 60 percent since 2008, the survey showed, and those fortunes are expected to rise a further 22 percent by 2016.
By contrast, world economic output has expanded just 16 percent over the past five years and the slow, sub-par recovery and subdued wage growth for most workers sharpens the political divide. Near zero interest rates and money printing designed to kick start credit growth and job creation helped stabilise the situation but has had the side-effect of inflating the financial assets and real estate holdings of the richest even further.
What’s more, anger has risen over a disproportionate hit taken by ordinary taxpayers for repairing government finances even as corporate and wealth tax rises were largely eschewed.
Policies adopted since the ‘Great Recession’ have clearly done little to balance the scales on personal wealth. And International Monetary Fund analysis shows more countries have cut corporate taxes over recent years than raised them – even as most countries have increased personal taxes.
But with U.S. mid-term elections due in November and UK parliamentary elections early next year, political pressure is mounting again. Cutting through the rhetoric is tricky, but some feel we may be on the cusp of action.
“Consumers and workers are paying far more than corporations to finance governments’ austerity efforts,” said Luca Paolini, strategist at Swiss asset manager Pictet. “This is politically unsustainable and is sure to reverse.”
Read the complete article here.





More Related News:

U.S. Households
http://www.nytimes.com

The inflation-adjusted net worth for the typical U.S. household was $87,992 in 2003.    Ten years later, it was only $56,335, or a 36% decline.   94% of the U.S. population now have less wealth while 4% have more.    When only a few people are winning and more than half the population is losing, surely something is amiss.