Are you in the 99% or 1%

[????]

"If you make more than ?21k a year that puts you in the top 1% of income earners worldwide. Thus, YOu'rE the 1%, not the 99%. And don't ever forget it.?

...discuss

[Jeremy]

Doesn't really mean much, because 20K a year can get you quite a long way in poorer countries.

[Loz]

But, on the other hand, a very 'poor' persons lifestyle here would be seen as an attractive lifestyle from the perspective of someone far more 'middle-class' in those countries.

[DaveR]

Yeah, it's bollocks. World average wage calculated last year = $1480/month, based on PPP.

http://www.bbc.co.uk/news/magazine-17543356

So someone earning ?21k/year in the UK will be worse off (at least in income terms) than many people earning less in other countries. Although that will be offset by all sorts of other benefits from living in first world country i.e. healthcare, education, infrastructure. I saw a report recently that said S Korea is due to overtake Japan in average incomes but Japan still has massive advantage in accumulated wealth, public and private.

[Loz]

Edited 'coz I couldn't read properly...

Treat those figures with caution, as the blurb that accompanies them says "It's a rough figure based on data from 72 countries, omitting some of the world's poorest nations.". So your ?21k a year is double the average salary of the more richer nations in the world.

It also omits self-employed, so all poor subsistence farmers. It also omits the non-employed.

Add in all these and you would almost certainly find yourself in the 1% on ?21k.

[DaveR]

Even with those caveats I doubt that ?21k pa puts you in the top 1% globally when you take account of PPP. In any event, it's not really the stat but the sentiment behind it that's bollocks. You could say to any resident of any developed country "you're really well off compared to most people in the world" and it would be true, what ever their income, so the 21k/1% thing is meaningless.

[Loz]

Well, I've always thought the whole 1% thing was fairly meaningless, so you probably won't get an argument out of me on that one.

[polla2256]

1% of apples or pears ? You can't combine the 2 to draw a comparison. Where is this information source ?

[DaveR]

The original figure for the global top 1% of income earners was $34,000 pa and came from a book by Branko Milanovic, an economist. It was then used as a criticism of US protesters who were citing stats about the top 1% of earners in the US (Milanovic also observed that 48% of the top 1% lived in the US).

[Top Girls]

Every year gets harder for first time buyers to invest in London, the good thing is they can still find affordable properties in other parts of the UK and Europe.

PMs

[Otta]

Even in this tiny country, ?20k can go much further in some places than in others. So yes, we may be in the top 1% worldwide, and richer than lots of people living in shacks, but we already knew that (even if we didn't know the figures).

Makes very little difference when you're applying for a mortgage and facing the reality of life in London.

[Loz]

I think this neatly puts things into perspective...

http://s.quickmeme.com/img/a0/a0f901885f243a93fa41705f0b1e7ab6ad7aa4910a9ac54e6b0ca5593ccfee16.png

[El Pibe]

is that 3 billion people who can't read it in English or their own language?

World adult literacy level is around 85%, youth literacy higher than that.

I suppose there's a certain percentage under the age of 5, do they count?

aaagh, sorry with the pedantry, i agree with the sentiment underlined by unsubstantiated figures....

[Loz]

El Pibe Wrote:

-------------------------------------------------------

> is that 3 billion people who can't read it in English or their own language?

> World adult literacy level is around 85%, youth literacy higher than that.

> I suppose there's a certain percentage under the age of 5, do they count?

>

> aaagh, sorry with the pedantry, i agree with the sentiment underlined by unsubstantiated

> figures....

Good point - I posted before checking the figures. Wiki says 84.1% of 15 years olds and over are literate. I've found a range of figures as regards world English literacy between 20% and 25%. So, neither seems to match.

[El Pibe]

the million dead a week is a bit dubious too given that's total deaths globally, including what we might term old age, not to mention untimely deaths that are nothing to do with health, I guess the car being the biggest killer there.

[Loz]

Top Girls Wrote:

-------------------------------------------------------

> The percentage of Literate people around the world

> is 50% lower than many years ago Thanks to the

> society, sponsors and the modern technology.

Eh? I think you mean 'percentage of illiterate people around the world is 50% lower...'

[Otta]

I just got the most bizare PM from Top Girls, methinks it's a bot.

[binary_star]

Otta Wrote:

-------------------------------------------------------

> Makes very little difference when you're applying

> for a mortgage and facing the reality of life in

> London.

Exactly...some perspective people!!

[SE22mum]

we are all connected in this global economy, so I think it is useful to remember how rich we are compared to most of the world! yes, it's frustrating trying to get a mortgage and life in London can be a drudge....but surely we can still show some humanity to those who are suffering far worse problems! some perspective please!

[binary_star]

Quite...

[Otta]

SE22mum Wrote:

-------------------------------------------------------

> we are all connected in this global economy, so I

> think it is useful to remember how rich we are

> compared to most of the world! yes, it's

> frustrating trying to get a mortgage and life in

> London can be a drudge....but surely we can still

> show some humanity to those who are suffering far

> worse problems! some perspective please!

I don't think anyone on this thread has lacked perspective in so far as realising how lucky we all are compared to many humans around the world.

My point above was that in MY life, knowing I'm richer than a lot of other people in other countries, and even in this country, doesn't really mean anything.

What would be interesting would be to break down that top 1%.

[SE22mum]

oh, i find it does mean something though. i?ve had my share of economic worries and sleepless nights over bills, badly paid jobs, mouths to feed etc. i find a bit of perspective lightens my load and lets me count my blessings.

[Mick Mac]

No matter how much people have, most people feel they do not have enough, that's because people seem to reach for what they cannot quite afford.

When those with a lot enter into decadent spending they are lambasted for wasting money. In fact, the more they spend the better it is for everyone.

[Kailyn]

Yeah, that's so true..Most people are never happy with what they have and always want more. I like the poster posted by Loz, it puts everything in perspective.

[LondonMix]

I find it puts things in perspective as well.

London is certainly a city where you make a sacrifice to live no matter how much money you make. However, a recent visit to a suburb in the US very clearly reminded me why I choose to live in a small house in ED rather than cash in my wealth and move elsewhere for a cheaper lifestyle. In London, your wealth is the very ability to live in a dynamic world-class city. It's easy to take London for granted but it truly is one of the greatest cities on the globe.