How could this system be legit?
Posted by te2ataria on June 28, 2016
Sent by a reader in “Sewage City” – re-edited by blog moderators
The wealthiest 10 per cent of Kiwis own about 60 per cent of everything, with their share of the loot increasing
Not withstanding the tremendous amounts of wealth secretly invested overseas, or stashed away out of sight in offshore tax havens, by the wealthiest Kiwis, the top 1 per cent own 22 per cent of everything, while the top 5 per cent hold around 45 per cent of the visible wealth.
“The figures also show a stark gap in household wealth. The top 10 per cent of households hold around half of all wealth, while the top 20 per cent hold 70 per cent [sic.]
“In contrast, the bottom 40 per cent of households controlled just 3 per cent of the wealth,” said a report based on the figures released by Statistics NZ.
[Moderator’s note: The figures provided by Statistics NZ are massaged, as usual, and totally misleading. They show the remaining 40 per cent of population, the second and third fifth, have a combined wealth of about 27 per cent, implying the presence of a “healthy” middle class. In reality, the actual figure is around 14 to 16 per cent of the total.]
The survey shows “stark” wealth inequality, said Green Party co-leader Metiria Turei.
“Wealth inequality is driving the housing crisis, and causing over 40,000 children’s hospital visits every year because they live in cold, damp, and mouldy homes.”
Champagne Glass Distribution from Conley (2008) You May Ask Yourself – digram is based on the distribution of world GDP in 1989, UNDP.
And in case you missed the following…
Other News in Drips…
Truth about the daily road carnage would hurt New Zealand’s $10 billion tourism industry…
Blog estimate: About 900 people are killed on NZ roads each year. [Most probably] up to 440 road fatalities have occurred in NZ since 1 January 2016
- No of road fatalities recorded by Minitru as of June 10: 154
- No of road fatalities recorded by Minitru as of June 21: 161
- No of road fatalities recorded by Minitru as of June 26: 161
Another fatality reported yesterday, June 27:
The driver of a ute involved in a collision with a tractor on River Rd, near Port Waikato bridge, has died 6 days later. The victim, believed to be in his 20s, had to be cut from the wreckage and was airlifted to Auckland City Hospital in a critical condition on Tuesday last week. http://www.odt.co.nz/news/national/388349/driver-dies-hospital-after-crash-tractor