Statistics can be misleading – now stop adding up the wealth of the poor
But there’s one unlikely country which has a whopping 7.5% of the poorest of the poor — second only to India. That country? The United States.
How is it that the US can have 7.5% of the bottom decile, when it has only 0.21% of the second decile and 0.16% of the third? The answer: we’re talking about net worth, here: assets minus debts. And if you add up the net worth of the world’s bottom decile, it comes to minus a trillion dollars. The poorest people in the world, using the Credit Suisse methodology, aren’t in India or Pakistan or Bangladesh: they’re people like Jérôme Kerviel, who has a negative net worth of something in the region of $6 billion.
At some point I’d like to see the net worth of every person, company, and country on the planet all added up together – I’m quite curious as to whether it’d be a positive or a negative number.