" We're all in it together: no recession for the top 1 per cent | Madam Miaow Says

Thursday, 24 January 2013

We're all in it together: no recession for the top 1 per cent

This bra costs £1.6 million in London's Bond Street.
Half a milion quid's worth of handbags owned by one woman, bras costing £1.6 million, diamond encrusted EVERYTHING. The super-rich have never had it so good.

I'm dizzy from all this high altitude spending while we have to juggle fixing pot-holes with keeping libraries open. The world's richest 100 people could end world hunger now. The 358 people with assets of more than $1bn were worth more than the combined annual income of 45 per cent of the world's people. There are 447 billonaires January 2013.

This pattern of wealth accumulation continues in the UK, according to SK Walker's blog: "from 1997 to 2007 the average income of the top 1% of UK earners increased from £187,989 to £301,325 – an increase of just over 60% (income of the top 0.1% almost doubled). ... The wealthiest are now paying substantially less toward our national upkeep than they were 15 years ago, relative to their wealth."

Which means that it's the poor who are funding that wealth splurge.

We have to end the deficit myth. It's an excuse for the reverse Robin Hood policies impoverishing us. The wealth is there but it's the rich who are nicking what was ours.

It does horrify me when I hear low paid people wanting to stick it to the poor instead of the rich who are laughing at their stupidity — shall we have the turkeys voting for Christmas or the duck shoot in a barrel, Smithers?

[Note: The value of Tamara Ecclestone's handbags have dipped strangely since her TV show displayed the most bonkers waste of wealth since Marie Antoinette tried to feed cake to the peasants. Daddy has apparently advised her not to show-off as spoilsports like me will call for the liberation of her Christain Louboutins for the masses.]



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