Saturday, October 31, 2015
Wednesday, October 28, 2015
Monday, October 26, 2015
Offered me a draw twice before resigning.
Friday, October 23, 2015
Wednesday, October 21, 2015
Saturday, October 17, 2015
Friday, October 16, 2015
Wednesday, October 14, 2015
Credit Suisse report finds 1% now own half of world's wealth
The richest one per cent now own half of all the wealth in the world, a new report from Credit Suisse says.
The bank's Global Wealth Report 2015 marks the first time that the world's super rich have amassed enough wealth to cross that symbolic line.
By the bank's reckoning, just over $250 trillion US worth of wealth has been amassed by households. At the top sit the ultra-rich, which the bank defines as having a net worth of at least $50 million in assets. Worldwide, there are 120,000 people in the group.
Just below the ultra-rich are 34 million people, with a collective net worth of at least $1 million. Collectively, people in that part of the pyramid make up 0.7 per cent of the world's population, but own 45.2 per cent of the world's wealth. If you extend the cut-off to one per cent of the world's population, they own more than half of all wealth in the world.
"Wealth inequality has continued to increase since 2008, with the top percentile of wealth holders now owning 50.4 per cent of all household wealth," the report said.
In Canada, 1.1 million people last year fit the bill of being worth at least $1 million US. But due largely to the huge drop in the loonie, their ranks actually declined in 2015 to 984,000 people.
Millionaires from just about every country saw their collective wealth decline last year, but the main factor was the rise of the U.S. dollar, which made wealth denominated in other currencies look comparatively smaller.
On a global scale, Canada has a disproportionate number of millionaires as Canadians make up three per cent of the world's "1%", despite Canada having only 0.6 per cent of the world's population.
Beyond tabulating the wealth of the super rich, the report examined the wealth of the so-called middle class, the definition of which changes depending on the country.
In the U.S., Credit Suisse says anyone worth between $50,000 and $500,000 would be considered middle class for the purposes of the survey. In some countries, the cut-off is higher, for example, in Switzerland, where the middle class starts at $72,000.
In China, it drops to $28,000. In India, it's at $13,700.
Interestingly, this year marks the first time that China's middle class — numbered at 109 million according to the bank — is larger than America's, which counts for 92 million people.
All in all, the middle class is worth a collective $80.7 trillion, or just under a third of the world's wealth.
On the bottom rung of the global wealth pyramid are 3.4 billion adults – 71 per cent of the world's population — who are worth less than $10,000 US.
Tuesday, October 13, 2015
1929?? Not really...
Monday, October 12, 2015
Saturday, October 10, 2015
"Pussies do that"
After 28. ... Ne5
Thursday, October 08, 2015
Wednesday, October 07, 2015
Tuesday, October 06, 2015
Long game from the morning train ride
Monday, October 05, 2015
Sunday, October 04, 2015
Saturday, October 03, 2015
Friday, October 02, 2015
70 move victory
The Countdown has come and gone...
An impressive milestone only when you consider that this thing was started on a whim and has persisted on half-hearted (at best) efforts of its creator.
At this point I only think I keep it going to leave some sort of Internet footprint or artifact, at least until the plug gets pulled on it.
There were thoughts at times of trying to focus this blog on some sort of endeavour, but instead it settled on being an ongoing collection of brief moments I've experienced, things I've read, seen, or even sometimes created myself (mostly photos), and more often lately, chess games won.
So here's to over a decade of pointless blogging of ephemera, and for many more years of such to come.