J P MorganJPMorgan Chase is now the world's largest company. (The World's Leading Companies - Forbes.com)
A certain Mexican is now worth $53 billion.
Meanwhile, child poverty in Sweden has increased by almost 50 percent since 2006.
(Increasing number of children in Sweden live in poverty)
The top 600,000 people in the world control 85% of the world’s wealth. (The Global Political Awakening and the New World Order)
The economy is in trouble.
And the best way to help the economy is to greatly increase the minimum wage, worldwide.
And help small businesses; not greedy global corporations.
Poor children in Scandinavia, not helping the shoe trade.
Let's look back a little in time.
A minor oligarch called Robert Owen took over some textile mills at a place called New Lanark in Scotland.
At that time, in the early 19th century, children from as young as five were working for thirteen hours a day in the mills.
Robert Owen brought about reforms, such as halting the employment of young children.
His mills prospered. (Robert Owen : Biography)
London strike
On 14 August 1889, in the UK, the Great London Dock strike began.
The Dockers demanded a minimum wage of 6 pence an hour.
The strike was a success.
Dockers could afford to buy more in the shops.
Some of the money raised in tax went towards the military-industrial complex.
In 1909, the UK government increased taxes on the super-rich. (The 'People's Budget': Causes & Consequences)
"Income tax was raised to one shilling on incomes above £2,000; those earning over £5,000 would pay an additional super tax at six pence in the pound on income above £3,000.
"Only 25,000 people earned above £3,000 and those liable for super tax numbered around 10,000."
Some of the money raised from tax was diverted towards buying the weapons of war used in the 1914-18 conflict.
But, gradually in the UK there was a narrowing of the gap between the rich and the poor.
However, the 'bad guys' then began to infiltrate the reform movements.
Today, most trade unions seem to have been infiltrated.
And there are few oligarchs who take an interest in their workers' welfare.
On 23 June 2010, we learn that in Detroit, almost half of all children live in poverty. ("Dying Detroit" - The Impacts of Globalization. Social Decay and Destruction of an Entire Urban Area)
In India, "57 per cent of GDP is being 'consumed' by about one per cent of the total population." (India is prospering but not Indians: Aiyar)
In the UK, the proportion of poor children in working households rose to 61% in 2008-9.
In the UK, in the top 100 companies, the average chief executive is paid more than £4m a year.(Low pay keeps even more in poverty.)
In 1960 the average income of the top 20% of the world's population was 30 times that of the bottom 20%.
By 1997, it was 74 times.
Today the assets of the top three billionaires are more than the combined GNP of all least developed countries and their 600 million people. (Debt Dynamite Dominoes: The Coming Financial Catastrophe)
BangkokOn 24 June 2010, at Global Research, Andrew Gavin Marshall wrote about: The Global Political Awakening and the New World Order
The richest 10% of the world's adults own around for 85% of the world's wealth.
The bottom half of the world adult population own around 1% of the world's wealth.
The top 6,000 people in the world own 40% of the world’s wealth.
The top 600,000 people in the world control 85% of the world’s wealth.
On 23 June 2010, in the Financial Times, Douglas Bruce explained that without some trickle-down effect, any recovery will be stillborn
Douglas wrote: "Going back a generation or two... it was still possible for a middle-class father to support a family of four, but it now takes two earners to maintain most families, and that at a lower standard of living..."
India
At http://theeconomiccollapseblog.com/, we read about:
20 Statistics That Prove That Global Wealth Is Being Funneled Into The Hands Of The Elite – Leaving Most Of The Rest Of The World Wretchedly Poor
From this we learn:
"Over the past several decades an increasingly growing percentage of agricultural land has been gobbled up by big corporations and by corrupt governments.
"Hundreds of millions of people have been pushed off their land."
Global corporations dominate much of the world economy.
1 According to the UN Conference on Trade and Development, the number of "least developed countries" has doubled over the past 40 years.
2 "Least developed countries" spent 9 billion dollars on food imports in 2002. By 2008, that number had risen to 23 billion dollars.
3. Average income per person in the poorest countries on the continent of Africa has fallen by one-fourth over the past twenty years.
4. Bill Gates has a net worth of somewhere in the neighborhood of 50 billion dollars. That means that there are approximately 140 different nations that have a yearly GDP which is smaller than the amount of money Bill Gates has.
5. A study by the World Institute for Development Economics Research discovered that the bottom half of the world population owns approximately 1 percent of all global wealth.
India
6. Approximately 1 billion people throughout the world go to bed hungry each night.
7. The wealthiest 2 percent own more than half of all global household assets.
8. It is estimated that over 80 percent of the world's population lives in countries where the income gap between the rich and the poor is widening.
9. Every 3.6 seconds someone starves to death and three-quarters of them are children under the age of 5.
10. According to Gallup, 33 percent of the people on the globe say that they do not have enough money for food.
A distraction.
11. As you read this, there are 2.6 billion people around the world that lack basic sanitation.
12. According to the most recent "Global Wealth Report" by Credit Suisse, the wealthiest 0.5% control over 35% of the wealth of the world.
13. More than 3 billion people, close to half the world's population, live on less than 2 dollar a day.
14. CNN founder Ted Turner is the largest private landowner in the United States. Today, Turner owns approximately two million acres. That is an amount greater than the land masses of the states of Delaware and Rhode Island combined. Turner also advocates restricting U.S. couples to 2 or fewer children to control population growth.
15. There are 400 million children in the world today that have no access to safe water.
16. Approximately 28 percent of all children in developing countries are considered to be underweight or have had their growth stunted as a result of malnutrition.
17. It is estimated that the United States owns approximately 25 percent of the total wealth of the world.
18. It is estimated that the entire continent of Africa owns approximately 1 percent of the total wealth of the world.
19. In 2008, approximately 9 million children died before they reached their fifth birthdays. Approximately a third of all of these deaths was due either directly or indirectly to lack of food.
20. The most famous banking family in the world, the Rothschilds, has accumulated mountains of wealth while much of the rest of the world has been trapped in poverty. The following is what Wikipedia has to say about Rothschild family wealth....
It has been argued that during the 19th century, the family possessed by far the largest private fortune in the world, and by far the largest fortune in modern history.
Nobody seems to know exactly how much the Rothschilds are worth today. They dominate the banking establishments of England, France, Germany, Austria, Switzerland and many other nations. It was estimated that they were worth billions back in the mid-1800s. What the total wealth of the family is today is surely an amount that is almost unimaginable, but nobody knows for sure.
"What we have in the world today is not capitalism.
"Rather, it more closely resembles 'feudalism' than anything else...
"It would be great if we lived in a world where those living in poverty were encouraged to start owning land, to create businesses and to build better lives for themselves...
"It turns out that the global elite have decided that they don't really need so many expensive American 'worker bees' after all and they have been moving thousands of factories and millions of jobs overseas.
"Meanwhile the American people are so distracted watching Dancing with the Stars, Lady Gaga and their favorite sports teams that they don't even realize what is going on."
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