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Americans make up half of the world's richest 1%
Rank: User Joined: 5/3/2011 Posts: 559
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@Harrydre and @ Nabwire..
The forth last line of the article clearly indicate that they've made adjustments to account for living standards in different parts of the world.
When the writer talked about to 1%, thats just top 1% of just over 6.5Billion world population, which is apprx 60-70Million people, so the writer could have talley the earnings from Carlos or Bill gate and the 60-70M person ended on $34K having factor in purchasing power parities.
Nabwire, poverty line in US is an income of less that $18k a year, thats is someone making apprx $9/hr, there are alot of people making $9/hr driving nice cars in America and those are the bottom 5%, infact more than 80% of the 5% own a car or can afford a car, that cannot be said of alot of people in other countries.
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Rank: Elder Joined: 3/2/2009 Posts: 26,331 Location: Masada
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Rank: User Joined: 5/3/2011 Posts: 559
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@Harrydre,
There is no Kibera life in America, come on man, every house have electricity, running water, heating and cooling systems, bathroom and toilet inside, fire alarms, access to ambulance service within the shortest notice, these things are even hard to access in some decent neighhood in Kenya!
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Drunkard wrote:@Harrydre,
There is no Kibera life in America, come on man, every house have electricity, running water, heating and cooling systems, bathroom and toilet inside, fire alarms, access to ambulance service within the shortest notice, these things are even hard to access in some decent neighhood in Kenya! Pliz stop the milk and honey BS, you must not have gone into the hood. Welcome to South Central or better yet go to Skidrow, none of that is available and it looks worse than Kibera.
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Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
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Drunkard wrote:@Harrydre,
There is no Kibera life in America, come on man, every house have electricity, running water, heating and cooling systems, bathroom and toilet inside, fire alarms, access to ambulance service within the shortest notice, these things are even hard to access in some decent neighhood in Kenya!
and what of the hundreds of homeless men and women who sleep on the streets, subways and junks? at least in Kibera they have a roof over their heads. peeps have been brainwashed so much they don't see anything wrong in the US.i.am.back!!!!
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Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
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Nabwire wrote:Drunkard wrote:@Harrydre,
There is no Kibera life in America, come on man, every house have electricity, running water, heating and cooling systems, bathroom and toilet inside, fire alarms, access to ambulance service within the shortest notice, these things are even hard to access in some decent neighhood in Kenya! Pliz stop the milk and honey BS, you must not have gone into the hood. Welcome to South Central or better yet go to Skidrow, none of that is available and it looks worse than Kibera. Well said. @Drunkard is really drunk literally. i.am.back!!!!
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Rank: Elder Joined: 7/10/2008 Posts: 9,131 Location: Kanjo
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Drunkard wrote:@Harrydre and @ Nabwire..
The forth last line of the article clearly indicate that they've made adjustments to account for living standards in different parts of the world.
When the writer talked about to 1%, thats just top 1% of just over 6.5Billion world population, which is apprx 60-70Million people, so the writer could have talley the earnings from Carlos or Bill gate and the 60-70M person ended on $34K having factor in purchasing power parities.
Nabwire, poverty line in US is an income of less that $18k a year, thats is someone making apprx $9/hr, there are alot of people making $9/hr driving nice cars in America and those are the bottom 5%, infact more than 80% of the 5% own a car or can afford a car, that cannot be said of alot of people in other countries.
I repeat, you can't just have a standard cut off amount!!! a $10k a year earner in kenya would be at the level of maybe $60k in US. so this whole article is crap.i.am.back!!!!
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Rank: User Joined: 5/3/2011 Posts: 559
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@Harrydre,
That conversation has already been factored in by the writer and he indicated in the forth last line, what don't you get about that, yes $10k in Kenya can be equal to $60k in USA, you've said it, you're hanging on something that do not make sense since that already has been solved.
Purchasing power parity (PPP) and International fisher effects are common terms in economics and international finances so no writer will ignore it.
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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Now china has over 1 million dollar millionaires from 3 in 2004 "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Americans make up half of the world's richest 1%
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