Monday, December 4, 2006

A few filthy rich own half the world

The middle class is well and truly dead. How does this bode for countries like Canada, who were built for and by the middle class? Time will tell...

"The richest two per cent of adults in the world own more than half of global household wealth, according to a study released on Tuesday.
In 2000 the richest one per cent of adults owned 40 per cent of global wealth, a report by the Helsinki-based World Institute for Development Economics Research of the United Nations University (UNU-WIDER) said.
Its comprehensive study of personal wealth has revealed that the richest 10 per cent of adults accounted for 85 per cent of the total global assets. In contrast, the bottom half of the world adult population owned barely one per cent of global wealth."
http://economictimes.indiatimes.com/articleshow/725095.cms
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