Sunday, December 28, 2008

Lots of people cannot afford to buy Coca Cola

Poor people cannot afford to buy Coca Cola.

The world's economic crisis is partly caused by the ordinary people not having enough money to buy things.

The richest 25% of the world's population receives 75% of the world's income.

The poorest 75% of the population get just 25%.

(Income Inequality)

So, there are lots of people who cannot afford to buy American cars or films or soft drinks.

The assets of the 84 richest people in the world exceed the GDP of China.

The world’s 225 richest people have a combined wealth of over $1million million.

Only four per cent of this wealth would be enough for basic education and healthcare, adequate food and safe water and sanitation for all the world’s people.

(Poor and Rich - The Facts March 1999 New Internationalist)

In the USA, in 1998, the richest 1 % of households owned 38 % of all the wealth.

So the rich 1 % can buy new cars or new houses with ease.

But a very large number of people have to borrow to pay for a new car or new house, and borrowing has become more difficult.

A lot of the richest folks just happen to be Jewish.

In the UK the income gap is the 'same as in 1991'

"After 11 years of Labour government, the gap between the income of the richest and poorest households is unchanged, according to new figures...

"The top fifth of households have 42% of total disposable income, and the bottom fifth just 7%."

If the American economy is to recover the government must do the following:

1. Increase the minimum wage.

2. Refuse to trade with any country that fails to raise its minimum wage to a reasonable level and that refuses to allow free trade unions.

3. Increase taxes on the rich upper class and spend the money on infrastructure projects.

4. Reduce taxes on the middle class and the working class by cutting military spending.

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