by Jeff Nielson, Bullion Bulls:
First of all, credit to Simon Black (The Sovereign Man) for finding this extremely valuable/important picture. I’m a “digital” thinker: words and numbers. That’s how I process information, and do most of my presentation of information.
But a large chunk of the population is “wired” differently. They process information more efficiently via “spatial” thinking — i.e. pictures (like charts). So here is the proverbial picture-that-is-worth-a-thousand-words. Indeed, I will undoubtedly soon write a commentary which incorporates this picture, and that commentary will (undoubtedly) be more than a thousand words long.
First, the picture itself:
Now some “translation”, since it wasn’t immediately clear to me (a non-picture thinker) what I was actually seeing. The (left) vertical axis represents the total population of the Earth, broken down into regions, and (in some cases) nations. The horizontal (right) axis represents “wealth deciles”.
For those who don’t understand such statistical jargon, what this means is that each number on the horizontal axis corresponds to a 10%-bloc of the entire, global population. Thus “1” represents the poorest 10% of people on then planet. “2” represents the next 10%-bloc, thus 1 and represent the poorest 20% of the Earth’s population. Conversely, “10” represents the richest 10% on the planet. 9 and 10 represent the richest 20% on the planet (and so on).
Now, let me translate what this picture represents, “digital” style.
North America and Europe (combined) represent roughly 10% of the global population. But despite representing 1/10th of the population, they produce 60% of the richest people on the planet, and 30% of the poorest people on the planet.
In other words, these two-tier societies produce (proportionately) 6 times as many of the very richest people as would normally be represented by this population, but 3 times as many of the poorest-of-the-poor. This is the WORST RATIO ON THE PLANET.
Look at other, much more populous regions. Africa has a larger population that is roughly 50% larger than Europe/North America combined, but has 50% less of the poorest-of-the-poor.
Let me repeat this, to make sure everyone clearly understands my “digital” analysis here. By population; there are twice as many of the poorest-of-the-poor in the North America and Europe than in Africa. The ratio is virtually identical with India (except not quite as bad).
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