9% of the World owns 79% of the Wealth.

**Vendetta21** · 10-12-2010, 04:25 AM

http://www.zerohedge.com/article/det...h-distribution

Whoa.

Also

China is the world's middle class.

nordia · 10-20-2010, 07:30 AM

It really sucks that money distribution is so oddly distributed between all the countries. America should share a bit with the rest of the world.

MrRubix · 10-20-2010, 08:04 AM

Quote:

Originally Posted by nordia

It really sucks that money distribution is so oddly distributed between all the countries. America should share a bit with the rest of the world.

oh god

AsphyxZero · 10-20-2010, 09:00 AM

Quote:

Originally Posted by nordia

It really sucks that money distribution is so oddly distributed between all the countries. America should share a bit with the rest of the world.

Share what money lmfao.
http://www.brillig.com/debt_clock/

**Emo_Saur_** · 10-20-2010, 09:04 AM

Quote:

Originally Posted by AsphyxZero

Share what money lmfao.
http://www.brillig.com/debt_clock/

If you honestly believe that, you're an idiot.

**25thhour** · 10-20-2010, 09:07 AM

13 trillion dollar debt lul

MrRubix · 10-20-2010, 09:45 AM

The public debt outstanding is $13 trillion. But when you factor in liabilities like Medicare (which is MASSIVE, almost $77 trillion), Social Security (probably around $15 trillion now), and retirement prescription drug plans (around $20 trillion), the sum total of all debt and liabilities (including unfunded obligations) comes out to around $125 trillion dollars. That's over $400k per citizen.

The Baby Boomers fucked us, man.

leonid · 10-20-2010, 09:55 AM

Quote:

Originally Posted by nordia

It really sucks that money distribution is so oddly distributed between all the countries. America should share a bit with the rest of the world.

Yeah they should give me some

**kostkaskater** · 10-20-2010, 10:15 AM

They should throw it out of a blimp and have us all fight over it. Whoa that would be a mess!

Izzy · 10-20-2010, 12:09 PM

Quote:

Originally Posted by MrRubix

The public debt outstanding is $13 trillion. But when you factor in liabilities like Medicare (which is MASSIVE, almost $77 trillion), Social Security (probably around $15 trillion now), and retirement prescription drug plans (around $20 trillion), the sum total of all debt and liabilities (including unfunded obligations) comes out to around $125 trillion dollars. That's over $400k per citizen.

The Baby Boomers fucked us, man.

It's such a weird thing to think about. All of this money is way over anyone's head and is all basically just conceptual at this point anyway. If everyone in the world decided that we weren't in debt anymore and made the records conclude this then we could just start over.

Although this would totally ruin the value of our economic system.

MrRubix · 10-20-2010, 12:35 PM

It's not really conceptual -- it's liability. It's money that will need to be paid back out.

We can't just forgive/eat the debt all-around. It's like saying that I borrowed $1000 from you and then suddenly decided that I couldn't pay it back. You wind up eating a $1000 loss and that has some pretty serious consequences. Money is equivalent to real goods in our market -- and so to forgive money is also to forgive promised goods, which to many is not negotiable (say if they require drugs/medications/housing/food/etc).

It's like the subprime mortgage crisis -- people were given loans they couldn't technically afford, and so when house prices went the other direction, insurance needed to be paid out, but no capital had been set aside to do it, resulting in a massive hole in the economy. You have to do *something* with this hole -- usually in the fundamental way of borrowing from someone else to afford the payment. This is why our global economy would have basically collapsed to nothing had AIG not been bailed out. People don't realize how close we were to that collapse happening, lol.

The problem occurs, naturally, when you start running out of places to borrow. The holes get bigger and bigger, and the holes are ultimately caused by incredibly inefficient wastes of resources.

But you can't say that everyone in the world should just forgive and forget all debts, because people are still eating massive costs. We're in the situation we're in now because of financial irresponsibility -- and it's everyone's fault, both banks and citizens alike (ultimately, though, we *can* place more blame on the banks because, well, they know better... or so we'd hope). It's harder to blame a stupid person for making a stupid decision than it is to blame a smart person for making a stupid decision.

**Patashu** · 10-20-2010, 03:31 PM

If I decide X person should pay their debts, I can force them to by leveraging the power of the community over them. Because the legal system has more power than the debt owner, he will have to pay back.

Lets say that someone decides America should pay its debts. How do you force America to pay its debts? Nothing has more power than America, or at least not so much that it could painlessly take down America.

MrRubix · 10-20-2010, 03:47 PM

What the ****?

That is horribly, horribly wrong.

America is not some kind of "we hold power over everyone so we'll tell you to take our debt and shove it" nation. A lot of our value is tied up in synergies with other countries through relations and trade. America may have borrowing power to help pay debts, but ultimately, after a certain point, the borrowing is too great and the debts become so large that credit runs thin -- it becomes less likely that you'll be able to pay things back, meaning either loans will become scarce out of fear or they'll become scarce because there's nothing to lend. You can always try to print more money but that doesn't really solve anything when the underlying goods are simply not present.

dsadsadsa · 10-20-2010, 09:39 PM

Don't quote me on this, but I've heard somewhere that if all resources in the world were distributed evenly, all people would be upper-middle class.

AsphyxZero · 10-20-2010, 10:35 PM

Quote:

Originally Posted by Emo_Saur_

If you honestly believe that, you're an idiot.

What, you thought it would be lower?

Obviously it's going to be higher. What Rubix said is true. And you can't honestly think that they're going to put down the real deficit on a public website.

**Vendetta21** · 10-21-2010, 12:17 AM

Quote:

Originally Posted by dsadsadsa

Don't quote me on this, but I've heard somewhere that if all resources in the world were distributed evenly, all people would be upper-middle class.

Yes, but the next step to take from that thought is what is a healthy wealth distribution. Distributing wealth evenly is impossible, but given what you or I understand about society what do we think would be the wealth distribution in a world that is Generally Good?

**DossarLX ODI** · 10-21-2010, 12:40 AM

I'm pretty sure that in order to distribute wealth more evenly (not perfectly though), you'd have to make sure there aren't any oligarchies.

**Vendetta21** · 10-21-2010, 01:04 AM

Quote:

Originally Posted by DossarLX ODI

I'm pretty sure that in order to distribute wealth more evenly (not perfectly though), you'd have to make sure there aren't any oligarchies.

Maybe true. Another (maybe even the same as your thinking) way is to change tax brackets so that the top 1% isn't lumped in with the top 10-30% and tax them heavier.

UberMario · 10-21-2010, 01:21 AM

But my capitalismmmmmmmmmmmmm, Veeeeeeeeeeeeeeeeeeeee.

**Vendetta21** · 10-21-2010, 01:47 AM

Quote:

Originally Posted by UberMario

But my capitalismmmmmmmmmmmmm, Veeeeeeeeeeeeeeeeeeeee.

Your capitalism already has progressive tax brackets, it just has badly distributed ones.

10-12-2010, 04:25 AM	#1
Vendetta21 Sectional Moderator Join Date: Aug 2006 Location: Seattle Age: 35 Posts: 2,745	9% of the World owns 79% of the Wealth. http://www.zerohedge.com/article/det...h-distribution Whoa. Also China is the world's middle class. __________________

10-20-2010, 07:30 AM	#2
nordia FFR Player Join Date: Jul 2009 Location: Boone, NC Posts: 34	Re: 9% of the World owns 79% of the Wealth. It really sucks that money distribution is so oddly distributed between all the countries. America should share a bit with the rest of the world. __________________

10-20-2010, 09:07 AM	#6
25thhour *I like max* Join Date: Feb 2007 Location: Vancouver/Burnaby/East Van Age: 30 Posts: 2,921	Re: 9% of the World owns 79% of the Wealth. 13 trillion dollar debt lul __________________ r bae adam bae max bae bridget bae claudia bae trevor bae adam2 bae mayo bae keith bae

10-20-2010, 09:45 AM	#7
MrRubix FFR Player Join Date: Dec 1969 Location: New York City, New York Posts: 8,340	Re: 9% of the World owns 79% of the Wealth. The public debt outstanding is $13 trillion. But when you factor in liabilities like Medicare (which is MASSIVE, almost $77 trillion), Social Security (probably around $15 trillion now), and retirement prescription drug plans (around $20 trillion), the sum total of all debt and liabilities (including unfunded obligations) comes out to around $125 trillion dollars. That's over $400k per citizen. The Baby Boomers fucked us, man. __________________ https://www.youtube.com/watch?v=0es0Mip1jWY

10-20-2010, 10:15 AM	#9
kostkaskater FFR Veteran Join Date: Sep 2004 Location: Oklahoma Age: 34 Posts: 779	Re: 9% of the World owns 79% of the Wealth. They should throw it out of a blimp and have us all fight over it. Whoa that would be a mess!

10-20-2010, 12:35 PM	#11
MrRubix FFR Player Join Date: Dec 1969 Location: New York City, New York Posts: 8,340	Re: 9% of the World owns 79% of the Wealth. It's not really conceptual -- it's liability. It's money that will need to be paid back out. We can't just forgive/eat the debt all-around. It's like saying that I borrowed $1000 from you and then suddenly decided that I couldn't pay it back. You wind up eating a $1000 loss and that has some pretty serious consequences. Money is equivalent to real goods in our market -- and so to forgive money is also to forgive promised goods, which to many is not negotiable (say if they require drugs/medications/housing/food/etc). It's like the subprime mortgage crisis -- people were given loans they couldn't technically afford, and so when house prices went the other direction, insurance needed to be paid out, but no capital had been set aside to do it, resulting in a massive hole in the economy. You have to do something with this hole -- usually in the fundamental way of borrowing from someone else to afford the payment. This is why our global economy would have basically collapsed to nothing had AIG not been bailed out. People don't realize how close we were to that collapse happening, lol. The problem occurs, naturally, when you start running out of places to borrow. The holes get bigger and bigger, and the holes are ultimately caused by incredibly inefficient wastes of resources. But you can't say that everyone in the world should just forgive and forget all debts, because people are still eating massive costs. We're in the situation we're in now because of financial irresponsibility -- and it's everyone's fault, both banks and citizens alike (ultimately, though, we can place more blame on the banks because, well, they know better... or so we'd hope). It's harder to blame a stupid person for making a stupid decision than it is to blame a smart person for making a stupid decision. __________________ https://www.youtube.com/watch?v=0es0Mip1jWY Last edited by MrRubix; 10-20-2010 at 12:40 PM..

10-20-2010, 03:31 PM	#12
Patashu FFR Simfile Author Join Date: Apr 2006 Location: we traced the call...it's coming from inside the house Age: 33 Posts: 8,609	Re: 9% of the World owns 79% of the Wealth. If I decide X person should pay their debts, I can force them to by leveraging the power of the community over them. Because the legal system has more power than the debt owner, he will have to pay back. Lets say that someone decides America should pay its debts. How do you force America to pay its debts? Nothing has more power than America, or at least not so much that it could painlessly take down America. __________________ Patashu makes Chiptunes in Famitracker: http://soundcloud.com/patashu/8bit-progressive-metal-fading-world http://img.photobucket.com/albums/v216/Mechadragon/smallpackbanner.png Best non-AAAs: ERx8 v2 (14-1-0-4), Hajnal (3-0-0-0), RunnyMorning (8-0-0-4), Xeno-Flow (1-0-0-3), Blue Rose (35-2-0-20), Ketsarku (14-0-0-0), Silence (1-0-0-0), Lolo (14-1-0-1) http://i231.photobucket.com/albums/ee301/xiaoven/solorulzsig.png

10-20-2010, 03:47 PM	#13
MrRubix FFR Player Join Date: Dec 1969 Location: New York City, New York Posts: 8,340	Re: 9% of the World owns 79% of the Wealth. What the ****? That is horribly, horribly wrong. America is not some kind of "we hold power over everyone so we'll tell you to take our debt and shove it" nation. A lot of our value is tied up in synergies with other countries through relations and trade. America may have borrowing power to help pay debts, but ultimately, after a certain point, the borrowing is too great and the debts become so large that credit runs thin -- it becomes less likely that you'll be able to pay things back, meaning either loans will become scarce out of fear or they'll become scarce because there's nothing to lend. You can always try to print more money but that doesn't really solve anything when the underlying goods are simply not present. __________________ https://www.youtube.com/watch?v=0es0Mip1jWY

10-20-2010, 09:39 PM	#14
dsadsadsa Take out the D and S. Join Date: Feb 2004 Location: Palm Coast, Florida Age: 32 Posts: 349	Re: 9% of the World owns 79% of the Wealth. Don't quote me on this, but I've heard somewhere that if all resources in the world were distributed evenly, all people would be upper-middle class. __________________ Hey, I'm a pro-amateur smash player.

10-21-2010, 12:40 AM	#17
DossarLX ODI Batch Manager Game Manager, Song Release Coordinator Join Date: Mar 2008 Location: USA Age: 29 Posts: 14,861	Re: 9% of the World owns 79% of the Wealth. I'm pretty sure that in order to distribute wealth more evenly (not perfectly though), you'd have to make sure there aren't any oligarchies.

10-21-2010, 01:21 AM	#19
UberMario FFR Player Join Date: Aug 2005 Location: Plus I'm hungry for ****. Age: 23 Posts: 1,777	Re: 9% of the World owns 79% of the Wealth. But my capitalismmmmmmmmmmmmm, Veeeeeeeeeeeeeeeeeeeee.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)