World News

57332 readers

1060 users here now

A community for discussing events around the World

Rules:

Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed.
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF OCTOBER 19 2025
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.

Lemmy World Partners

News !news@lemmy.world

Politics !politics@lemmy.world

World Politics !globalpolitics@lemmy.world

Recommendations

How to spot Misinformation and Propaganda

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

Consider including the article’s mediabiasfactcheck.com/ link

founded 3 years ago

MODERATORS

NewsAutoMod@lemmy.world

Tenthrow@lemmy.world

little_cow@lemmy.world

lemmyAtom@lemmy.world

jordanlund@lemmy.world

Australia’s median wealth falls almost 7% since 2020 despite the rich getting richer, report says (www.theguardian.com)

submitted 1 month ago by Valuy@lemmy.zip to c/world@lemmy.world

9 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] eleijeep@piefed.social 26 points 1 month ago (2 children)

The word "despite" in the headline betrays a complete lack of understanding of basic statistics and economics on the part of the author.

[–] Buffalox@lemmy.world 13 points 1 month ago (1 children)

Nonono hold on you misunderstand, now we just have to wait for the trickle down. 🤣 🤥

[–] trewq@lemmy.world 2 points 4 weeks ago (1 children)

Wait long long for the imaginary trickle down to happen

[–] jubilationtcornpone@sh.itjust.works 2 points 4 weeks ago (1 children)

Oh, it's very real. It's also warm and yellow.

[–] phutatorius@lemmy.zip 1 points 4 weeks ago

Horses and sparrows.

[–] fizzle@quokk.au 4 points 4 weeks ago (1 children)

I think the author understands it's just a shit headline.

But this masked a nearly 7% contraction in the median wealth of Australian adults over the period, suggesting expanding wealth has favoured those at the top.

I don't understand how they're counting / defining "millionaires", is it by annual income or net wealth.

Middle Australia’s wealth is going backwards while the richest claim an ever-greater share of the pile, according to new research that shows more than 25,000 people across the country became millionaires last year.

A number this low suggests they're talking about the number of people who earn $1m in a year.

However, later in the article they count "median wealth" by net assets, as if the number of millionaires is contextual.

Millions of Australian's would "become millionaires" each year in terms of net assets.

[–] Kactus@piefed.world 1 points 4 weeks ago (1 children)

If you are counting housing as assets, but you are forgetting mortgages as debts. Net millionaire would still be rare. What was the one that came out last month, there were 600 odd billionaires with more wealth than the bottom 2 million households. My banks house they let me live in has gone up in value

[–] fizzle@quokk.au 1 points 4 weeks ago

Nah, I'm not forgetting mortgages. Anyone over 50 who bought a house in a major city in their 20s likely has a million in net assets

Don't forget super