Richest 1% Percent To Have More Than Rest of Humanity Combined

New Oxfam report shows the scale of global inequality is 'simply staggering'

by Jon Queally / Common Dreams In less than two years, if current trends continued unchecked, the richest 1% percent of people on the planet will own at least half of the world's wealth. That's the conclusion of a new report from Oxfam International, released Monday, which states that the rate of global inequality is not only morally obscene, but an existential threat to the economies of the world and the very survival of the planet. Alongside climate change, Oxfam says that spiraling disparity between the super-rich and everyone else, is brewing disaster for humanity as a whole.