Widening gap of wealth

By Karnjana Lao 
Nation Graphics

 

Nation Graphics/Karnjana Lao

 

Thailand is among the countries with the largest gap between the rich and the poor, with a disproportionate slice of the national wealth and income going to the wealthiest 1 per cent of the population.

 

Inequality has been on the rise across the globe. Economic gaps have continued to grow as the richest few amass unprecedented levels of wealth at the expense of the poor and middle class. Thailand is among the countries with the largest gap between the rich and the poor, with a disproportionate slice of the national wealth and income going to the wealthiest 1 per cent of the population.

 

 

Source: http://www.nationmultimedia.com/detail/national/30360902

 

 

-- © Copyright The Nation 2018-12-22

23 minutes ago, rooster59 said:

Thailand is among the countries with the largest gap between the rich and the poor

Thailand is not just among the countries with the highest gap; it has the distinction of being THE country with the highest gap. And that gap increased substantially during the rule of the junta to give it No.1 spot in the world. Something the junta can can hang their hat on.

Military governments need inequality and to help them survive.  

 

And just wait til after the election, it gonna  grow even more. 

 The gap will increase in all countries as long as the poor vote against their own interest, It is simple mathematics. The investment class gets a average  6% (approximate numbers to make a point)  return on their efforts where the working class will be lucky to keep up with inflation.  

 

I see the U S is right there in the top 10 right next to Thailand. Guess that's what happens when the 1%ers get a trillion dollar tax cut. No junta to blame there.

Denmark 20th ?? That' a misprint surely ? It has one of the lowest income inequality in the world.

10 minutes ago, johnsnapo said:

Denmark 20th ?? That' a misprint surely ? It has one of the lowest income inequality in the world.

All those Bacon oligarchs.

Yeah well, when the general population is as lazy as it is ... never give a sucker an even break.

Hmm. Income and wealth are somewhat different but muddled together in this graphic. Some observations:

 

So according to these stats Thailand is NOT the #1

Thailand has the same level of inequality as the USA (and others)

Inequality is pretty much universal

 

And apparently "Economic gaps have continued to grow as the richest few amass unprecedented levels of wealth at the expense of the poor and middle class" which suggests that the world's supply of 'wealth' is a finite commodity such that when one person accumulates it, another loses it; or that when one person earns an income in any way it deprives another from doing so. That's rubbish.

1 hour ago, johnsnapo said:

Denmark 20th ?? That' a misprint surely ? It has one of the lowest income inequality in the world.

There is a huge difference between income and wealth.

2 hours ago, sirineou said:

The gap will increase in all countries as long as the poor vote against their own interest, It is simple mathematics.

The rich and wealthy have the money to "stake the deck" therefore all 'the poor' are only able to vote for are the proxies of the rich and powerful.  So virtually no candidate for office has the best interests of the majority of the voters at heart, but they are only beholding to the rich would fund the campaigns and continued lifestyles as "leaders'.  So MP and members of legislatures continue of make laws that primarily benefit the rich and allows of the harvesting of the wealth from the 99% into the pockets of the 1%. 
Something needs to change.  France is the canary in the coal mine.  Revolutions happen when disenfranchised voters finally wake up to the fact the election system is completely rigged against the average citizen in favor of the uber-wealthy, and will never, ever work for them.  Then they take to the streets seeking change.

49 minutes ago, Pedrogaz said:

There is a huge difference between income and wealth.

 

And a person of low income in a state with generous welfare and social support may live a more comfortable lifestyle than one who lives in a state with meagre, insubstantial benefits.

 

That would be a significant difference between Denmark and Thailand.

 

And perhaps help explain why Denmark is the 3rd "happiest" state in the world, while Thailand (sadly ironic given the mantra of its self appointed saviour and all the smiling) is 46th. Top 4 are Nordic countries:

 

World Happiness Report - Wikipedia

 

 

Edited December 22, 20187 yr by Enoon

1 hour ago, Antonymous said:

Hmm. Income and wealth are somewhat different but muddled together in this graphic. Some observations:

 

So according to these stats Thailand is NOT the #1

Thailand has the same level of inequality as the USA (and others)

Inequality is pretty much universal

 

And apparently "Economic gaps have continued to grow as the richest few amass unprecedented levels of wealth at the expense of the poor and middle class" which suggests that the world's supply of 'wealth' is a finite commodity such that when one person accumulates it, another loses it; or that when one person earns an income in any way it deprives another from doing so. That's rubbish.

In another story from a news source which can't be named it is revealed that Credit Suisse research shows Thailand is No.1 with 1% owning 66.9% of the WEALTH beating Russia which dropped to 57.1%. On this Credit Suisse page there is a link to the full report.

https://www.credit-suisse.com/corporate/en/articles/news-and-expertise/global-wealth-report-2018-us-and-china-in-the-lead-201810.html

1 hour ago, DrTuner said:

Yeah well, when the general population is as lazy as it is ... never give a sucker an even break.

I think you meant to say when the general population is as uneducated as it is, then this is the outcome. 

3 hours ago, Cadbury said:

Thailand is not just among the countries with the highest gap; it has the distinction of being THE country with the highest gap. And that gap increased substantially during the rule of the junta to give it No.1 spot in the world. Something the junta can can hang their hat on.

Military governments need inequality and to help them survive.  

Unfortunately, many, especially in my home country do not care to look at history. The US support for the wealthy controlled governments in Central America and the Caribbean and then they react against the resulting immigration issues. Short sighted.... Here, the social conflict will also continue until a better balance is found weaving the vast majority into the social fabric of the country.

12 minutes ago, Oziex1 said:

I think you meant to say when the general population is as uneducated as it is, then this is the outcome. 

Yes i saw them yesterday a throng outside the atm getting their measley 500 baht handout.

2 hours ago, DrTuner said:

Yeah well, when the general population is as lazy as it is ... never give a sucker an even break.

Ha! Yes, everyone should be as industriousvas the Americans. See how much better off they are due to working excessively for the man?!......

Thailand has handed out monopolies, made certain resources illegal and exerts crazy import tariffs.  Exporting from Thailand seems to be the best way to break out. 

 

In many countries, it takes a people's champion to change things.  There are not many of those in the world today.  Government is more of a problem than a solution.  If they would just get out of the way, the world would be a happier place

Not really news, all countries are like this.

4 hours ago, johnsnapo said:

Denmark 20th ?? That' a misprint surely ? It has one of the lowest income inequality in the world.

What is more surprising is that Sweden is at 11th place and the top of Western European countries.

I suppose bringing all those millions of refuges does pay off....

Why worry? Large wealth gaps are meat and drink to right-wing governments everywhere and are made possible by greed and envy - by the votes of those who hope to be one of the exploitative rich one day. Checking out Trump, May and Nettenyahu and that nimrod in Australia will be useful, as will others. Sadly, on the other side of the balance, good intentions, incompetence and corruption are similarly meat and drink to left-wing governments of all shades.

 

It's all a scam. The idea is that by making the rich richer, they will invest that wealth in business to propel the country forward. The reality is it goes offshore or into hard-to-trace assets so tax is avoided.

 

The quest for greater and greater wealth is what fuels many of the catastrophes in society, and appeals to the base instincts of many people - most of whom will never climb the greasy pole because they mistakenly think that effort and hard work propels one up that pole. It doesn't. Corruption, illegality and IOU's propel one up that pole. Ask Prayuth how much money he has and where it came from and you'll see what I mean.

 

Still, like all fairy tales, this one attracts those who already do or already want to believe in fairies. Nobody else and nobody with a 3-figure IQ.

 

 

 

 

Edited December 22, 20187 yr by HalfLight

More inequality, more crime.

Interestingly Al J did a piece on this yesterday as well. Not sure if I'm allowed to post a link though.

6 minutes ago, Psimbo said:

Interestingly Al J did a piece on this yesterday as well. Not sure if I'm allowed to post a link though.

This forum has a whole series of 'cannot do's'. Like most things, there are reasons why, most of them to do with psychology.

 

 

 

4 hours ago, Oziex1 said:

I think you meant to say when the general population is as uneducated as it is, then this is the outcome. 

And you're probably right. But I think so is the OP, a lack of education among Thais is at least partly because they're too lazy to get a good education, and partly because they've been kept backward for decades - deliberately.

 

Yes they're lazy - too lazy to insist on a good government to look after the people's interests and not those of the government and it's sponsor(s). It's a problem, and is not limited to Thailand; every tin-pot country with a poor education system and inherent criminality and corruption is the same; it's a part of the psychology of people.

 

If you go around Thailand and look behind the eyes of the poor and dispossessed, you can catch glimpses of the underlying reasons, and (in my opinion), that doesn't result in nice feelings.

 

 

Edited December 22, 20187 yr by HalfLight

9 hours ago, PatOngo said:

Quite astonishing what you can train a black panther to do isn't it?

I have two friends that repossess cars for banks. They are doing a roaring trade. Again, mostly the uneducated on unrealistic loans getting screwed. 

 

Another friend owes 600,000 baht for the next five years for insurance payments when the husband only brings in 300,000 a year. She did not complete her schooling and the agent just took her for a ride to get her to put down a downpayment of a 100K of which she will lose around half when no payments can be met.

 

No education is the reason and the key here. Dumb the general population down and screw them out of money.