On October 15, inspired by the ‘Occupy Wall Street’ movement, the ‘indignants’ took to the streets in 951 cities in 82 countries from Asia to Europe, Africa and the Americas.
They had good reasons to do so.
According to the latest ‘World Wealth report’ the wealth of the 10,9 million world’s ‘high net worth individuals’ grew 9,7 % in 2010 and now reaches 42,7 trillion US$. This now surpasses the 2007 pre-crisis peak. The global population of HNWIs grew 8,3 %.
Europe’s HNWI wealth totaled 10,2 trillion US$ after growing 7,2 % in 2010. Austerity?
North American HNWI wealth hit 11,6 trillion US$ in 2010, up 9,1 %. Crisis?
Ultra-HNWIs – the super rich – posted slightly stronger-than-average gains in their numbers and wealth. Ultra-HNWIs accounted for 36,1 % of global HNWI wealth…
Meanwhile, a ‘social investment pact’ is proposed to European member states in which social policies are entirely subordinated to the economy, with a risk that only ‘investments’ in the ‘human capital’ of ‘young talents’ will seem to be relevant. Who will invest in old people and their health and pensions? Who will invest in educational choices with limited access to the labour market?
In fact, who really cares?
The 99 % of world population does. They claim their rights. And have no power. Yet.
Read all about people’s wealth, social investments, tax havens and on how the financial system strangles European economies.