Archive for the ‘Wealth Disparity’ Category

Medical costs in New Zealand

Sunday, January 29th, 2012

– This is for my U.S. readers.  It just isn’t right that a small country like New Zealand (and many others that are not so small) can do this and the U.S. cannot.  Why?   – –

– Corporate greed – plain and simple.   They’ve got you in their grips and they are not going to let go.

My last prescription bill

My last prescription bill

– Oh, and the three dollars is only for the initial prescription for each.  Refills are free.

The Wealth Gap – Inequality in Numbers

Tuesday, January 17th, 2012

Until protesters took to the streets last year, first in New York and then in financial centres across the world, inequality had been a low-key issue.

Not any more.

With the political temperature rising, a stream of new analysis is revealing how sharply inequality has been growing.

In October, the US Congressional Budget Office (CBO) caused a storm by revealing how big a slice of income gains since the late 1970s had gone to the richest 1% of households.

The message was dramatic.

Over the 28 years covered by the CBO study, US incomes had increased overall by 62%, allowing for tax and inflation.

But the lowest paid fifth of Americans had got only a small share of that: their incomes had grown by a modest 18%.

Middle income households were also well below the overall average with gains of just 37%.

And even the majority of America’s richest households saw gains of barely above the overall average at 67%.

How does that make sense?

Because the CBO found most of the income gains over the past 30 years had gone to the top 1% of US households. Their incomes had almost trebled with rises of 275%.

– More…

 

Directors’ pay rose 50% in past year, says IDS report

Sunday, October 30th, 2011

Pay for the directors of the UK’s top businesses rose 50% over the past year, a pay research company has said.

Incomes Data Services (IDS) said this took the average pay for a director of a FTSE 100 company to just short of £2.7m.

The rise, covering salary, benefits and bonuses, was higher than that recorded for the main person running the company, the chief executive.

Their pay rose by 43% over the year, according to the study.

Prime Minister David Cameron, speaking in Australia, said the report was “concerning” and called for big companies to be more transparent when they decide executive pay.

Labour leader Ed Miliband said the pay increases were part of a “something for nothing” culture, since the stock market had not risen to match them.

A statement from IDS said that that figure suggested that “executive largesse is evenly spread across the board”.

Base salaries rose by just 3.2%, although that was above the median rise recorded by IDS this week for average pay settlements of 2.6% for private sector workers.

The latest consumer price inflation figures showed inflation at 5.2%.

– More…

 

About the Occupy Wall Street movement

Tuesday, October 18th, 2011

I’ve been reflecting on the Occupy Wall Street Movement. 

First, Bravo to them for understanding what’s happening to the world and for standing up and pointing it out so well.   I hope the movement continues to ‘grow legs’ and I also hope that, like the ‘Arab Spring’, it results in real and fundamental changes.

But, my hopes and my projections of likely outcomes live in separate boxes in my head.  And while I am deeply pleased at the OWS movement, I don’t think it will result in more than superficial change.

The problem, as I just wrote to a friend in a private E-Mail, is

“The people with power and money like, Dick Cheney for instance, are not going to give up their perks because the demonstrators make them feel guilty.   Rather, if they begin to feel the heat, they will direct that a series of measures be taken by their political handmaidens to make it look like changes are being effected when, in fact, the changes will be mostly form and very little substance.  

They will institute ‘a dazzle the bozos campaign'”.

A great strength of the new movements like the Arab Spring and OWS are their decentralized natures; they have no single head to cut off to stifle them.   But, it their weakness as well as their ‘intelligence and perceptive depth’ is limited to the average of the group since they are all independent actors.

Those who control the Multinationals and who direct our politicians like sheep with their money are far far brighter than that average and they will obfuscate the issues and make great shows of doing something through the media they control while, in fact, doing very little to disadvantage themselves.

Those are my thoughts.   Only time will tell and I, like so many, am deeply interested to see how it all plays out.

-dennis

 

 

Financial world dominated by a few deep pockets

Monday, October 10th, 2011

Economic “superentity” controls more than one-third of global wealth

Conventional wisdom says a few sticky, fat fingers control a disproportionate slice of the world economy’s pie. A new analysis suggests that the conventional wisdom is right on the money.

Diagramming the relationships between more than 43,000 corporations reveals a tightly connected core of top economic actors. In 2007, a mere 147 companies controlled nearly 40 percent of the monetary value of all transnational corporations, researchers report in a paper published online July 28 at arXiv.org.

“This is empirical evidence of what’s been understood anecdotally for years,” says information theorist Brandy Aven of the Tepper School of Business at Carnegie Mellon in Pittsburgh.

The analysis is a first effort to document the international web of relationships among companies and to examine who owns shares — and how many — in whom. Tapping into the financial information database Orbis, scientists from ETH Zurich in Switzerland examined transnational companies, which they defined as having at least 10 percent of their holdings in more than one country. Then the team looked at upstream and downstream connections, yielding a network of 600,508 economic actors connected through more than a million ownership ties.

– More…