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> The issue is that ~6-8 people in the world own the same amount of wealth as the bottom 40% of the world, Broadly speaking, isn't this because the bottom 40%
by Brakenshire 9y ago
> The issue is that ~6-8 people in the world own the same amount of wealth as the bottom 40% of the world,
Broadly speaking, isn't this because the bottom 40% of the world don't have savings? The statistic seems misleading. You could have 1 dollar, and you'd have greater wealth than more or less everyone in the world with a mortgage.
- claudiulodro 9y agoA mortgage generally comes with a house (an illiquid asset). If you have a buck you do have more wealth than pretty much anyone with student loans, though.
- Brakenshire 9y agoOh yes, you're right, so not a mortgage, but someone renting, with no savings, and a credit card debt or as you say, a student loan. That is a problem - for a lot of people, that will mean little to no leeway when things go wrong - but that's not the point that most people are making when they use that statistic.