+281 The whole concept of "if you own $10, then you're part of the 8% world's wealthiest" is completely wrong. A huge majority of the world's population has their wealth in livestock and land, not monies, and this statistic doesn't take that into account. They don't go to the market with a wad of cash, but rather a cow to sell for groceries for the month, amirite?

by Anonymous 13 years ago

It's not necessarily saying that 92% of the world has less than $10 of net worth, it's saying that 92% of the world has no money saved up for the future. The $10 is referring the fact that you have at least some financial security, that you're rich enough to have money that isn't being put towards your necessities at the moment.

by Anonymous 13 years ago

Agreed, but the counterargument is that a cow probly has more investment than $10 does considering it loses value through inflation.

by Anonymous 13 years ago

I'm not sure what you mean by "cow probly has more investment" But I think you're mistaken by the your perception that in third world countries, families just have these animals they live with. Not the case. Most live off of grains generally; it's not like every family just has several cows for the future.

by Anonymous 13 years ago

I meant short term, if a family buys an animal, it's going to be worth more in the future than $10 would be after the same amount of time. I didn't mean they actually "invested", more like just bought them to use them like money: potential purchasing power that doesn't die in the short term (other than literal death, but they take care of them well).

by Anonymous 13 years ago

In reference to what you said, the cow and animals actually have "financial security" since it's always worth something. That explain what I mean by "investment"?

by Anonymous 13 years ago

You NW'd your own post. Just saying...

by Anonymous 13 years ago

lol thanks

by Anonymous 13 years ago

Money is worth different amounts around the world. There are countries where you could live for a year on $10, and there are countries were cash has no purpose or value.

by Anonymous 12 years ago

That's another reason it's a bullshit "fact"

by Anonymous 12 years ago