Tuesday 20 October 2015

50 million US citizens are part of the world's poorest 10% - 2015

Astonishing wealth inequality figures continue to come out of the wealthiest country on earth. That country that many of it's citizens view as "exceptional". Well they certainly are exceptional, but not as they think.

In the world's richest nation, 50 million of it's people are in 10% of the world's poorest. 

So how's that exceptionalism working out for you over there guys? More like exceptional capitalism, where unhinged market corporations increase their wealth and create 50 million of the poorest people on the planet. Apparently it's all the fault of those 50 million people, sucking off the gov and not trying hard enough to make money? Isn't that the corporate line preached? 

Unfortunately for the TPP nations, the corporations want to export such social failure to us as well.  

1. At the Bottom: Of the Half-Billion Poorest Adults in the World, One out of Ten is an American  

That seems impossible, with so many extremely poor countries, and it requires a second look at the data, and then a third look. But it's true. In the world's poorest decile (bottom 10%), one out of ten are Americans, many of whom are burdened with so much debt that any remnant of tangible wealth is negated. Other nations have high debt, most notably in Europe, but without an excessive burden on their poorest citizens. 

Incredibly, then, nearly 50 million of America's 243 million adults are part of the world's poorest 10%. In contrast, over 110 million American adults are among the world's richest 10%. Common Dreams

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