48% of the World’s 1% Are Americans

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Americans Occupiers in Zuccotti Park made famous phrases like “the 1 percent” to protest wealth disparity within the U.S. — but the rest of the world can throw that term right back at us. As CNN points out today, World Bank economist Branko Milanovic writes in his book The Haves and the Have-Nots that 29 million of the 60 million people who constitute the top 1 percent of income earners globally (or 48 percent of them) are American, based on 2005 data. It’s a finding that grabbed our attention, since Occupy Wall Street has tried to make “the 1 percent” Enemy No. 1 in the U.S. Here’s how he rounds out the rest of the top percentile in his book:

Next follow about 4 million Germans; about 3 million French, Italians, and Britons each; 2 million Canadians, Koreans, Japanese, and Brazilians each; around 1 million of Swiss, Spaniards, Australians, Dutch, Taiwanese, Chileans, and Singaporeans. There is nobody from Africa, China, India, or from East Europe or Russia (in statistically significant numbers, of course).

Read More: http://www.theatlanticwire.com/business/2012/01/48-worlds-1-are-americans/46978/

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Data 1639507577Jim Chanos has a new short target in his sights. Earlier this week, the hedge fund manager disclosed that he is betting against "legacy" data centers that face growing competition from the trio of technology giants, which have previously been their biggest customers. The fund manager, who is best known for his winning bet against Read More

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