Brazil’s 124 billionaires own 12.3% of GDP and half the population lives on 130 dollars per month

Tuesday, September 10th 2013 - 01:11 UTC

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The 124 richest people in Brazil hold assets totalling 544 billion Reais equivalent to 238.6bn dollars or 12.3% of the country’s GDP, which is considered one of the most unequal in the world. The 124 are included in Forbes magazine latest publication that brings together all those Brazilians with fortunes over a billion Reais (approx 438 million dollars). Read full article

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Anglotino
What an inane title.

Wealth is an asset. GDP is a measure of production.

Very simplistic and inaccurate comparison/measure.
Sep 10th, 2013 - 01:25 am - Link - Report abuse 0
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Stevie
Well, Anglotino, taking into account that any countries well-being is measured in GDP to debt rate, the comparison is not that far off.
I think we discussed this little feature in another thread...
Sep 10th, 2013 - 04:26 am - Link - Report abuse 0
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GeoffWard2
I think that the GDP figures take a much understated estimate of the black economy. The vast majority of ordinary 'working class' Brasilians that I meet declare only a small fraction of their income - if they declare anything at all!
The true middle class have an increasing proportion of their taxes diverted to non-productive support of the 'favela-poor'. The Bolsa Familia is a recipe for a dependency culture of hand-outs and reduced aspiration. It can bring people out of the official poverty zone, but it does so artificially.
Much better, I think, for BNDES to support and stimulate the milliopns of small enterprises, bring them into the formal economy, increase the global tax-take through generating increased earned and declared income amongst the enterprising 'working class'.
Sep 10th, 2013 - 05:08 am - Link - Report abuse 0
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Captain Poppy
Stevie....a first. I've always said the same thing. Measuring a balance sheet to an income statement does not reconcile.... Wealth to GDP or Debt to GDP...apples and oranges.
Sep 10th, 2013 - 05:34 am - Link - Report abuse 0
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Stevie
Well Poppy, that's just what the developed countries does, measure GDP to debt rate in order to present a healthy economy...
Sep 10th, 2013 - 06:31 am - Link - Report abuse 0
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Anglotino
Yeah yeah Stevie

Debt this debt that rah rah rah! *yawn

I didn't say anything about well-being. And a country's well-being is measured by dozens of measures and not just one like you seem to simplistically think.

I seem to remember that you totally ignored one little feature on that other thread..... competitiveness. Seems Argentina, Uruguay and Venezuela don't do that well.

PS: whatever you do, don't look at Venezuela's debt... we are all Chavez PMSL
Sep 10th, 2013 - 06:39 am - Link - Report abuse 0
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Stevie
Yes Anglolatino, the same countries that controls the IMF, the WB and the rating agencies are the most competitive ones. Who would have imagined...

Here, have a couple of shoulder pats from me as well...
Sep 10th, 2013 - 06:43 am - Link - Report abuse 0
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Brasileiro
It is forbidden to get rich! Essa oportunidade é dada somente aos EUA e Europa. It makes me laugh! hahahahaha
Sep 10th, 2013 - 06:44 am - Link - Report abuse 0
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