POLL: How do you stack up in the global inequality game? Surprising!

[Jingthing]

Look over what you have written when you're not drinking. Of course "It is simply impossible that about HALF (current results) of the entire thaivisa.com user base are at the TOP ONE PERCENT of global wealth levels". Only 19 people have replied. Those 19 people could very well be telling the truth but since there are so few respondents and they are not randomly selected people there is no reason to think that they are representative of "the entire thaivisa.com user base".

I don't drink so don't be so silly. I know the votes are only a small sample and do not reflect the larger reality. You're mixing up issues. It doesn't matter if people are lying or not on this poll.

[cloudhopper]

Anyone who bothered reading the Credit Suisse article this poll was based on would understand that household wealth as defined in their study included the net value of homes.

Fine, add that if you wish.

It's for entertainment purposes anyway.

You do realize you can CHANGE your vote on these forum polls?

I am fine with doing it that way.

But again, that is not about INCOME.

This is just for people to see how they compare to global levels.

Not a scientific poll.

Cheers.

Yes it is not about INCOME and I never said it was. I am merely pointing out that in order for posters to validly compare their wealth inequality according to the results of the study you are quoting then they need to include home equity.

[Jingthing]

Anyone who bothered reading the Credit Suisse article this poll was based on would understand that household wealth as defined in their study included the net value of homes.

Fine, add that if you wish.

It's for entertainment purposes anyway.

You do realize you can CHANGE your vote on these forum polls?

I am fine with doing it that way.

But again, that is not about INCOME.

This is just for people to see how they compare to global levels.

Not a scientific poll.

Cheers.

Yes it is not about INCOME and I never said it was. I am merely pointing out that in order for posters to validly compare their wealth inequality according to the results of the study you are quoting then they need to include home equity.

That's fine. I agree with that change.

Unlike others, you have made a very on point criticism that reflects directly on the INTENTION of the structure of this poll.

You are uncovered a RELEVANT flaw in my initial suggested guideline for figuring your personal number,

Much appreciated. Thank you.

Also, it is very easy to change your vote for people who want to follow the adjusted guideline.

Just delete your vote and then vote again to reflect another choice IF the change would change your choice.

Edited October 16, 2014 by Jingthing

[Naam]

The 3 votes claiming membership in the global one percent, are you taking the piss?

that only braggarts claim to have a net worth exceeding $798k goes without saying. there are even some who claim that their annual income is nearly 50% of the afore mentioned amount.

stupid people who think anyone would believe their lies

Perhaps you don't like the fact that others are more successful than you are. So just dismiss them and then you can pretend that you're a success. In reality it's not that much money. It's the cost of an average property in cities like London and New York. Tens of millions of people own such properties around the world. It's not surprising that some of them may be in Thailand.

it seems that detecting Klingon irony and sarcasm is not your strength.

[el jefe]

Anyone who bothered reading the Credit Suisse article this poll was based on would understand that household wealth as defined in their study included the net value of homes.

Fine, add that if you wish.

It's for entertainment purposes anyway.

You do realize you can CHANGE your vote on these forum polls?

I am fine with doing it that way.

But again, that is not about INCOME.

This is just for people to see how they compare to global levels.

Not a scientific poll.

Cheers.

Yes it is not about INCOME and I never said it was. I am merely pointing out that in order for posters to validly compare their wealth inequality according to the results of the study you are quoting then they need to include home equity.

That's fine. I agree with that change.

Unlike others, you have made a very on point criticism that reflects directly on the INTENTION of the structure of this poll.

You are uncovered a RELEVANT flaw in my initial suggested guideline for figuring your personal number,

Much appreciated. Thank you.

Also, it is very easy to change your vote for people who want to follow the adjusted guideline.

Just delete your vote and then vote again to reflect another choice IF the change would change your choice.

You do realize that by changing the guidelines to include equity in real estate, you're making many of the people reading this thread (not the TV community) richer and the poorest 50% are even poorer than you thought.

I'm not surprised that half the people who replied here have a net worth of $798k, but I'm surprised that you thought that half the world's population had liquid savings of $3,650!

That's entertainment!

[Loptr]

Definition: all assets - all debts = net worth...

Doesn't matter if the asset is a business, home, car, jewelry, gold or blue widgets...

http://www.investopedia.com/terms/n/networth.asp

[55Jay]

Difficult blow when content with fun 'entertainment' value, is so misunderstood and under-appreciated.

[ldnguy]

Over 2 million British people have a net worth of over $1 million. I'm sure plenty of them are here, as I know a few personally. If you met them I doubt you'd think there were millionaires because their income is average but their assets are large, mainly due to them being older, having paid off their mortgages and their properties having risen in value. And they've had longer to build their savings and see their investments grow. In SE England the average family home is probably worth close to $800K. Add in some saving and investments and $1 million is easily achieved. Over 2 million managed to achieve it, so it's not really something too out of the ordinary.

[SheungWan]

Definition: all assets - all debts = net worth...

Doesn't matter if the asset is a business, home, car, jewelry, gold or blue widgets...

http://www.investopedia.com/terms/n/networth.asp

If I look at that link I think it has some use when one wants to consider how it contributes to living in Thailand, but context is all.

There are two terms used there: assets and liabilities.

If one has a home, say in UK, then financially it is to all intents and purposes a liability re the costs of maintenance if it still remains a home. However it is an asset at the point of disposal and an asset if rented out. While I was working I was happy for the value of my home to increase in nominal terms over a long period of time, but once career stopped it felt more like a liability. As for including either my old stamp collection (yes, still got it) or art prints, I am loathe to consider assets of wealth (even though each having a perceived value), though at some point I will have to sell them.

Edited October 17, 2014 by SheungWan

[Showbags]

I do not believe the figures....horseshit

[Jingthing]

I am of course well aware of the concept of net worth but I wasn't clear from the linked article that was exactly what they were talking about here. Of course classic net worth calculation would include value of real estate (minus debt). So I made the initial editorial choice to suggest people exclude value of illiquid assets (minus debt on them) for the purposes of coming up with a number here. You could do it both ways if you wish ... for your own consideration of any differences.

Of course, if including illiquid assets value more people are going to have higher numbers. As far as percentage of "one percenters" in the context of this scale, they wouldn't be exceptionally rare when including real estate, but they wouldn't be anything remotely as high as 50 percent either (when projected to the entire thaivisa user base).

Another point, someone with "only" 800K USD net worth is hardly really a "one percenter" in the sense of belong to the real global financial super elite, of course! Not sure what number brings you there, but it is A LOT more than that!

Edited October 17, 2014 by Jingthing

[TheCruncher]

The 3 votes claiming membership in the global one percent, are you taking the piss?

that only braggarts claim to have a net worth exceeding $798k goes without saying. there are even some who claim that their annual income is nearly 50% of the afore mentioned amount.

stupid people who think anyone would believe their lies

I am sure not a braggart, but unless something is lost in translation, I don't believe the claims from the OP that only 1% of the world population is worth more than $798K in liquid money after deducting debts.

For your information, my debts are 0 ( that is in every currency in the world) and have been so for the past 25 years, unless you include my monthly electricity bill in that calculation.

Edit to add : Noticed your later post too late.

Edited October 17, 2014 by TheCruncher

[Jingthing]

I am sure not a braggart, but unless something is lost in translation, I don't believe the claims from the OP that only 1% of the world population is worth more than $798K in liquid money after deducting debts.

Fine. Can you provide a source showing evidence that the figure is inaccurate?

[cloudhopper]

I am sure not a braggart, but unless something is lost in translation, I don't believe the claims from the OP that only 1% of the world population is worth more than $798K in liquid money after deducting debts.

Fine. Can you provide a source showing evidence that the figure is inaccurate?

Here is the original report - https://publications.credit-suisse.com/tasks/render/file/?fileID=60931FDE-A2D2-F568-B041B58C5EA591A4

[Jingthing]

I am sure not a braggart, but unless something is lost in translation, I don't believe the claims from the OP that only 1% of the world population is worth more than $798K in liquid money after deducting debts.

Fine. Can you provide a source showing evidence that the figure is inaccurate?

Here is the original report - https://publications.credit-suisse.com/tasks/render/file/?fileID=60931FDE-A2D2-F568-B041B58C5EA591A4

That doesn't seem very entertaining. Can you make your point yourself, if any, here instead? Such as referring to some specific text in a link?

Edited October 17, 2014 by Jingthing

[CaptHaddock]

I found the poll entertaining and the results plausible. In a voluntary poll on wealth it is to be expected that those who participate will be more successful than those who do not. There are certainly dollar millionaires here at TV. Although there may well be some who exaggerated their wealth the benefit of doing so anonymously escapes me.

Even for entertainment purposes wealth should include real estate. The reason that brokerage firms like Merrill Lynch and Credit Suisse often make estimates of liquid wealth is that, ultimately, those reports will be used for prospecting for assets to manage, i.e. cash and securities. For the rest of us real estate counts.

As I remember about 7% of the US households have a net worth >= $1 million. 8% of New York City. 10% of Singapore. Someone else reported here the claim that Thailand has a mere 77,000 dollar millionaires. If so, that's only 0.12%. Sounds low to me, but I can't find a source for any such number.

[Naam]

The 3 votes claiming membership in the global one percent, are you taking the piss?

that only braggarts claim to have a net worth exceeding $798k goes without saying. there are even some who claim that their annual income is nearly 50% of the afore mentioned amount.

stupid people who think anyone would believe their lies

I am sure not a braggart, but unless something is lost in translation, I don't believe the claims from the OP that only 1% of the world population is worth more than $798K in liquid money after deducting debts.

For your information, my debts are 0 ( that is in every currency in the world) and have been so for the past 25 years, unless you include my monthly electricity bill in that calculation.

Edit to add : Noticed your later post too late.

[TheCruncher]

I am sure not a braggart, but unless something is lost in translation, I don't believe the claims from the OP that only 1% of the world population is worth more than $798K in liquid money after deducting debts.

Fine. Can you provide a source showing evidence that the figure is inaccurate?

Will my bank book do ?

[Jingthing]

Does anyone have a more granulated scale we can see?

For example, according the the premise of the OP article wealth at 77K USD puts you into the top global 10 percent and about 800K into the top global one percent.

Well, whoopee do.

What if you've got 200K?

300K?

500K?

10K

50K?

Of course IF I had this granulated detail before, the poll would have been structured to include that detail. But I didn't have it and still don't.

Edited October 17, 2014 by Jingthing

[Jingthing]

Will my bank book do ?

TMI, dude.

[fletchsmile]

11 liquid "almost millionaires" or ("$796k aires") and counting...

Will there be a follow up poll to ask whether we think this poll is:

A) Accurately answered

Representative of TV members

C) Representative of global inequality

D) Both A and B

E) Both A and C

F) Both B and C

G) All of A,B. and C

H) Totally wrong

I) Some other answers for the people who claim that A,B,C,D,E,F,G,H, don't make sense. They are different and it doesn't apply to them because....

Cheers

Fletch

[Jingthing]

...

Will there be a follow up poll to ask whether we think this poll is:

...

Not from me.

In retrospect this didn't really need to be a poll at all. Just posting the info inviting people to find out for themselves and to be "surprised" about where they might fit on the scale, or not.

[fletchsmile]

...

Will there be a follow up poll to ask whether we think this poll is:

...

Not from me.

In retrospect this didn't really need to be a poll at all. Just posting the info inviting people to find out for themselves and to be "surprised" about where they might fit on the scale, or not.

Come on you know you want to... JT AKA poll master extraordinaire of days gone by in the General Section.

Don't think some of us hadn't noticed

Cheers

Fletch

Edited October 17, 2014 by fletchsmile

[el jefe]

...

Of course, if including illiquid assets value more people are going to have higher numbers. As far as percentage of "one percenters" in the context of this scale, they wouldn't be exceptionally rare when including real estate, but they wouldn't be anything remotely as high as 50 percent either (when projected to the entire thaivisa user base).

Another point, someone with "only" 800K USD net worth is hardly really a "one percenter" in the sense of belong to the real global financial super elite, of course! Not sure what number brings you there, but it is A LOT more than that!

The lowest 50%, with a net worth of under $3650 are also including the value of their mud hut in Africa, or India, China etc.

Of course $800k doesn't make you a "one-percenter". When people in the US talk about the "one percent" they are referring to the people in the US that are in the wealthiest 1%. I'm not going to bother looking it up but it's probably closer to a net worth of $5 mil.

Most entertaining is that you keep trying to extrapolate these results to the entire TV user base of 200,000 people when all of 26 voted.

[Jingthing]

...

Most entertaining is that you keep trying to extrapolate these results to the entire TV user base of 200,000 people when all of 26 voted.

Please stop lying. I have never done that. In fact, I have made a point several times that the results are meaningless in that sense.

[fletchsmile]

...

Of course, if including illiquid assets value more people are going to have higher numbers. As far as percentage of "one percenters" in the context of this scale, they wouldn't be exceptionally rare when including real estate, but they wouldn't be anything remotely as high as 50 percent either (when projected to the entire thaivisa user base).

Another point, someone with "only" 800K USD net worth is hardly really a "one percenter" in the sense of belong to the real global financial super elite, of course! Not sure what number brings you there, but it is A LOT more than that!

The lowest 50%, with a net worth of under $3650 are also including the value of their mud hut in Africa, or India, China etc.

Of course $800k doesn't make you a "one-percenter". When people in the US talk about the "one percent" they are referring to the people in the US that are in the wealthiest 1%. I'm not going to bother looking it up but it's probably closer to a net worth of $5 mil.

Most entertaining is that you keep trying to extrapolate these results to the entire TV user base of 200,000 people when all of 26 voted.

Let's not forget the "17 null" votes

That's 39.5% of 43

[el jefe]

...

Most entertaining is that you keep trying to extrapolate these results to the entire TV user base of 200,000 people when all of 26 voted.

Please stop lying. I have never done that. In fact, I have made a point several times that the results are meaningless in that sense.

Wow! You don't even understand what you wrote. Go back to your post #41 or almost any other post you made in this thread. You keep saying there is something wrong with the results because it's impossible that 40-50% of ThaiVisa users are in the top 1% of the worldwide wealthy. What's impossible is your interpretation of your poll.

This is no longer entertaining. It's frustrating dealing with the clueless.

[MAJIC]

I'm getting confused as to where I am in the financial market,

i.e

1. I don't owe anything

2. I pay cash for everything

3.My Bank account is always in credit

4.I keep refusing Bank loans I don't need

5.Why must I replace my car,it goes fine

6. No I don't need to borrow money for a Home extention,

7.Thanks but no I don't need a holiday,but I might need one if you keep pestering me to take out finance!

8.Yes I know the guy next door spends his money trying to make me envious,but frankly I don't give a ****!

9. This is bad news for you financial <deleted>,i'm also actually so well financialy/ catered for' that I can't spend my income quick enough!

10.So I guess I don't enter on the financial charts,but I don't feel inequal,in fact quite the opposite!

[SheungWan]

I'm getting confused as to where I am in the financial market,

i.e

1. I don't owe anything

2. I pay cash for everything

3.My Bank account is always in credit

4.I keep refusing Bank loans I don't need

5.Why must I replace my car,it goes fine

6. No I don't need to borrow money for a Home extention,

7.Thanks but no I don't need a holiday,but I might need one if you keep pestering me to take out finance!

8.Yes I know the guy next door spends his money trying to make me envious,but frankly I don't give a ****!

9. This is bad news for you financial <deleted>,i'm also actually so well financialy/ catered for' that I can't spend my income quick enough!

10.So I guess I don't enter on the financial charts,but I don't feel inequal,in fact quite the opposite!

Tell us more about the bloke next door and how he tries to wind you up.

[Jingthing]

...

Most entertaining is that you keep trying to extrapolate these results to the entire TV user base of 200,000 people when all of 26 voted.

Please stop lying. I have never done that. In fact, I have made a point several times that the results are meaningless in that sense.

Wow! You don't even understand what you wrote. Go back to your post #41 or almost any other post you made in this thread. You keep saying there is something wrong with the results because it's impossible that 40-50% of ThaiVisa users are in the top 1% of the worldwide wealthy. What's impossible is your interpretation of your poll.

This is no longer entertaining. It's frustrating dealing with the clueless.

Either your reading comprehension is lacking or you're trolling or both.

What are the percentages on that?

Welcome to my ignore list.

There is a level of obnoxiousness that is just not worth even VIEWING.