except the mass majority of the bottom three billion live where governments do respect property rights. private wealth only exists where that is true, otherwise all wealth would be concentrated in the hands of politicians as it is in many places; well that and their very select friends most of which they installed over state resources.

I mean poverty is poverty even in America.

50% of Americans can't come.up with 500 bucks in case of emergency.

If you have a checking account you probably have more liquid assets than the bottom 3 billion.

Exactly. I'm apparently in the top 0.5% and it always feels like money is tight. Anyone who must work for a living is in a sense poor.

3 billion combined? Because that's what the parent comment was implying. Your point hardly seems like a fair comparison.

The bottom 3 billion probably has zero net worth: no property, no assets. So my point was a fair comparison.

"In 2013 we estimate that 3.2 billion individuals – more than two thirds of adults in the world – have wealth below 10 000 dollars."[1] In total they also estimate that those 3.2 billion individuals have a combined wealth of 7.3 trillion dollars.

So, unless you're implying that everyone who has "a checking account" has more than 7.3 trillion dollars, sorry, it's just not the same.

I'm not denying that there is extreme inequality between poor in America and poor in Africa or India.

But let's not make false comparisons between having a banking account and being in the top 30 wealthiest individuals. Having a banking account is not the same as having 7 trillion dollars in wealth.

[1] https://publications.credit-suisse.com/tasks/render/file/?fi... (year 2013, page 21)

Yeah but you can still be living in the same relative poverty as they are.