[Rickenbacker]

If most people are renting or pay mortgages on their properties, if most people are in debt, if most people have to take out loans to buy things, if few people actually own any land, then who does everything belong to?

Is it the people who own all the private banks?

If inflation hikes and people can't pay off their debts then do the banks reclaim everything? Is that a sensible idea? Do we still have land barons only with more comfortable serfs?

Also, what is the definition of 'land'? If you own three floors half way up a 40 storey building is that land?

(Probably been discussed before, but a quick search didnt turn up anything.)

[Jack]

Here's something - though a bit dated.

Wealth Distribution

As you'll notice, the top 5% owns more than 2/3 of the wealth - which would, at the least, include securities, bank accounts, land, and real estate. Some will be small business owners, others will be senior executives, some will be physicians...

[Rickenbacker]

With trends for wealth inequality increasing, I guess that means the bottom 80% are our future serfs. There was a guy who got assassinated, some politician whose name I forget, who said something like:

$this->bbcode_second_pass_quote('', '(')sic)'If we had a barbeque, and one man took enough food for nine people, then those nine would damn well make him come back and put most of it back on the table!'

[cube]

$this->bbcode_second_pass_quote('Rickenbacker', '.').........

But I forget, 'wealth is too important to be left to the poor'.

...........

[joewp]

In answer to "Who owns everything (or anything)?" I'd say the answer has to be those that can defend the thing from attackers, or successfuly attack and win posession. As exhibit one, I present the recent US Supreme Court decision that allows government to take an individual's private property and give it to corporations or other wealthy entities for the profit of that entity AND the government. Somehow, that is now the definition of "public use".

Screw the people in those houses in New London. They don't count cause they worked all their lives to make the corporations rich. Hell, the whole peak oil thing boils down to corporations and bankers gathering wealth from the common man at an increasing rate, greased by oil.

[I_Like_Plants]

This is the kind of thing that brought on the French Revolution, we'd better all read up on it, extra points for getting in some Victor Hugo.

[shakespear1]

It is not the "banks" that will own everything. Itis the people that OWN the banks

By using just the term banks we ascribe the actions to a "thing", THE BANK.

It is not a THING, it is someone. Someone built the structure and method of operation of this thing and reaps the benefits.

This transfer of responsibility to "things" is widely practiced throughout the ages.

[Claudia]

$this->bbcode_second_pass_quote('', 'I')f most people are renting or pay mortgages on their properties, if most people are in debt, if most people have to take out loans to buy things, if few people actually own any land, then who does everything belong to?

Is it the people who own all the private banks?

[Leanan]

$this->bbcode_second_pass_quote('', 'A')lso, what is the definition of 'land'? If you own three floors half way up a 40 storey building is that land?

[CARVER]

$this->bbcode_second_pass_quote('joewp', 'I')n answer to "Who owns everything (or anything)?" I'd say the answer has to be those that can defend the thing from attackers, or successfuly attack and win posession ...

[shakespear1]

The only middle class that I see sticking up for itself is in France and Germany. The rest of the countries either don't get in the news or the middle class is simply taking it quietly or maybe they are doing OK.

I think at some point people will realize that the Global Economy is beneficial to a small % of society. In the end you need a job to be able to buy the things coming from China or Indonesia.

[CrudeAwakening]

$this->bbcode_second_pass_quote('Rickenbacker', 'I')f most people are renting or pay mortgages on their properties, if most people are in debt, if most people have to take out loans to buy things, if few people actually own any land, then who does everything belong to?

Is it the people who own all the private banks?

[Zentric]

Stopping along the roadways on the West Coast of the US, I'd always see historical plaques telling you how particular Mexican, Spanish, French or Russian generals or admirals, each were deeded huge tracts of land for heroism in battle, etc.

Gradually, over the following several hundred years, these tracts got parceled out into settlements or cities, where presumably the general or admiral's descendents stood to collect extraordinary sums of money from real estate developers. The proceeds from these sales then likely get diversified into other assets.

Family ownership of land, especially in a young country like the US, probably accounts for a large concentration of today's wealth.

[I_Like_Plants]

Shakespear1 this is why I'd be open to moving to France, but it turns out it takes an insane amount of money to do so.