Got $2,200? Congrats, You’re Among The World’s Richest People

Image redacted.

A recent United Nations study on personal wealth found that having just $2,200 per adult puts a household in the top 50% of the world’s richest.

However, thanks to large amounts of consumer debt, “many people in high-income countries have negative net worth and–somewhat paradoxically–are among the poorest people in the world in terms of household wealth.”

Live debt free and you too could be the ruler of a small eastern bloc country! — BEN POPKEN

Got $2,200? In this world, you’re rich [MarketWatch via Consumerism Commentary]

Comments

Edit Your Comment

  1. timmus says:

    This counts just the bank balance, right? Debt is an tool for buying assets. Of course some people buy assets that lose value, like bling, Escalades, and designer clothes.

  2. The same study which created these results also showed a far more sinister and startling result.

    Richest Two Percent Own Half World Wealth

    It’s all in how you spin the story… You’re rich if you have $2200! Be happy, you’re not poor! Now, don’t mind the fact that Bill, Ted, and Paris own half the world…never you mind that!

  3. MarcAnthony says:

    This may be off topic, but who in the HE!! did they get that dollar bill to look like that?

  4. weave says:

    timmus, the article also measured physical assets, so basically that includes the value of the stuff you have, less the debt.

    I think Ben is right about the negative net worth issue. Let’s say 15 months ago you got a nice new 32″ LCD TV for $3500 (price back then) and scored a no-interest, no-payment until Jan 2007 loan. You didn’t read the fine print to know if it wasn’t paid off by 1/2007 back-interest is charged and you didn’t make any payments since it was “interest free.” So you’re sitting on a balance of about $4300 in debt to pay off starting next week on a TV that you can’t sell used for over $500 now.

    I think that’s pretty common situation, unfortunately.

  5. jakeblack says:

    I dunno.. The euro is worth more than the US buck now, so does that mean I am rich if I have less than 2 euros? Cool. What can I buy?

  6. bambino says:

    nice jewish reference, ben

  7. This may be off topic, but who in the HE!! did they get that dollar bill to look like that?

    They either have mad Photoshopping skills or they actually took the time to fold the dollar bill around a small Star of David over and over again.

    In contrast, the bottom half of the world adult population owned barely 1% of global wealth.

    crayonshinobi, I bet they don’t want us to mind that as well.

  8. thrillhouse says:

    “The study’s authors defined net worth as the value of people’s physical and financial assets, less debts.

    …many people in high-income countries have negative net worth and — somewhat paradoxically — are among the poorest people in the world in terms of household wealth.”

    Debt is not a tool, thats just how they sold it to you. Ignoring the debt means that you’re only lying to yourself about the real situation.

  9. dandykins says:

    Nice choice in graphics. Because of course we all know that the report results must be from the vast Jewish conspiracy to rule the world’s paper currency.

    I’m betting on the Florida grapefruit cartel, myself.

  10. The_Truth says:

    Wait, so putting diamonds on my teeth is not an investment?

    Crap

  11. pestie says:

    I suspect the bill in the photo is just a (rather impressive) example of dollar bill origami. A friend and I learned a few simple dollar-bill origami tricks when we were going to a local strip club regularly. Ahh, the good ol’ days…

  12. Ben Popken says:

    The dollar bill is made by origami. I picked it because it was a cool depiction of money.

  13. The dollar bill is made by origami.

    Dude, someone folded that shit. :)

    Debt is not a tool, thats just how they sold it to you. Ignoring the debt means that you’re only lying to yourself about the real situation.

    I get the feeling that in your free time you stalk debt down dark alleys and decapitate it with a katana edged in silver and handle made from white oak and salt the earth you bury the debt’s ashes in. (Don’t get mad, you also wear an awesome coat.)