There are more wealthy Chinese than Americans for the first time
London (CNN Business)For the first time, there are more rich Chinese than Americans in the top 10%. A new report from Credit Suisse (CS) shows that wealth in China is ticking up, and the country now accounts for 100 million of the richest 10% of people in the world.
There are 99 million Americans in the same category.The United States still has many more millionaires — 18.6 million, or 40% of the world’s total, versus 4.4 million in China. It’s also adding to the millionaire count at a faster clip. The report credits low interest rates and Republican tax cuts for the country’s 11th consecutive year of rising wealth.
The average American is also still much richer than their Chinese counterparts, with US wealth per adult at $432,365 compared with$58,544 in China.
But China holds claim to a growing piece of the pie, replacing Europe as the principal engine of global wealth growth. That’s in spite of the trade war that’s weighing on the nation’s economy.
“Trade conditions and debt levels are causing concern, but signs for the coming years are otherwise fairly positive,” Credit Suisse observed in its annual Global Wealth Report.
The report highlights the extent to which global wealth is concentrated at the verytop.The bottom 50% of adults account for less than 1% of total wealth, while the top 10% own 82%. The top 1% alone owns almost half of all global assets, according to Credit Suisse.
Has the 1% peaked?
The threshold to make it into the top 10%, globally, is roughly $109,400 in net assets. To be in the top 1%, you’d need just above $936,400.
Still, the picture of wealth inequality since the 2008 financial crisis is complicated. While artificially low interest rates and bond-buying programs from central banks led to a boom in asset prices, raising the share of the top 1% of wealth holders, inequality “continued to decline for those below” that segment, Credit Suisse notes. The share held by the bottom 90% now accounts for 18% of global wealth, up from 11% in 2000. Since 2016, the share held by the top 1% has broadly eased back, per the bank.
“While it is too early to say that wealth inequality is now in a downward phase, the prevailing evidence suggests that 2016 may have been the peak for the foreseeable future,” the report’s authors write.
Article via CNN
Nicki Minaj marries Kenneth Petty after a year of dating: The ‘Clyde to my Bonnie’
Nicki Minaj, 36, announced her marriage to Kenneth Petty, 41, on Instagram late Monday night following nearly a year of dating. She shared her martial bliss with a video of matching “Mr. and Mrs.” mugs and coordinating “Bride” and “Groom” baseball caps.
“10•21•19,” the rapper captioned the footage, appearing to refer to the lovebirds’ official wedding date. USA TODAY reached out to Minaj’s rep for comment.
She hasn’t shared any more details about tying the knot, but Minaj revealed in August that she would have a big wedding celebration following their low-key nuptials.
“I have to work on my album and I have a lot to focus on that I don’t want to do the big wedding now,” she said on Queen Radio in August. “We’ll do the big wedding later.”
She continued: “Before the 90 days is over, yes, I will be married. I’m very happy about that because my baby makes me so happy.”
Minaj and Petty start dating last year before becoming Instagram-official in December 2018. Their relationship made waves after Petty’s criminal history came to light.
Petty is a registered, Level 2 sex offender on New York State’s Sex Offender Registry. He was assessed as posing a medium risk of committing another offense.
According to the registry, in April 1995, Petty was convicted of attempted first-degree rape for a 1994 assault that occurred when both he and the victim were 16. It also notes that he used a knife or cutting instrument during the commission of the crime. He was sentenced to between 18 and 54 months in state prison. According to New York State Department of Corrections records, he served just under four years and was released in January of 1999.
The DOC website says that in 2006, Petty went back to prison for first-degree manslaughter and served nearly seven years before being released on parole in May 2013.
When an Instagram commenter noted that he would have been a teenager at the time of the attempted rape and speculated the victim “must’ve been a white girl,” Minaj reportedly offered clarification, stating, “He was 15, she was 16… in a relationship. But go awf Internet. y’all can’t run my life. Y’all can’t even run y’all own life. Thank you boo.”
Earlier this week, Minaj called Petty the “Clyde to my Bonnie.” She updated her Twitter account to read “Mrs. Petty.”
via: https://currently.att.yahoo.com/entertainment/nicki-minaj-marries-kenneth-petty-050658807.html
Photo Credit: yahoo.com
Colorado Mom Accused of Killing Daughter She Portrayed as Terminally Ill
A Colorado mother who sought donations to cover medical treatments for her daughter and promoted the girl’s “bucket list” of dreams to fulfill before she died has been indicted on a murder charge in the 7-year-old’s death that was previously believed to be from a terminal disease.
In a grand jury indictment revealed Monday, Kelly Renee Turner, 41, also known as Kelly Gant, was charged with 13 criminal counts that included child abuse, theft and charitable fraud in the death of Olivia Gant in 2017.
The indictment alleges Turner caused Olivia Gant’s 2017 death, not the multiple illnesses that the mother claimed the girl had and that prompted publicized ride-alongs with police and fire crews. The Make-A-Wish Foundation, which grants wishes to critically ill children, also paid about $11,000 for a “bat princess” costume party for her.
Turner was arrested Friday at a Denver-area hotel and held without bond, the Douglas County Sheriff’s Office said. It is not clear if she has an attorney who could speak on her behalf.
Olivia’s actual cause of death was not immediately clear. It was originally attributed to intestinal failure, according to the indictment issued Thursday and first reported Monday by KUSA-TV.
Her body was exhumed last year, and an autopsy found no physical evidence of that illness or other conditions that Turner claimed the girl suffered, including seizure disorder and a buildup of fluid in cavities deep within the brain. Olivia’s death is now listed as undetermined.
Investigators say Olivia had been using a feeding tube and was admitted in July 2017 to Children’s Hospital Colorado, where doctors said her nutrition was deficient.
One doctor told investigators that Turner wanted to withdraw all medical care and artificial feeding for her daughter because her quality of life was so bad. He said she insisted that he sign a “do not resuscitate” order for her daughter.
Doctors had said Olivia wouldn’t be able to survive on IV nutrition, and Turner was given the option of taking her home on hospice care, according to the indictment. Olivia died a few weeks later.
Several doctors who were interviewed said Olivia did not have a terminal condition. The girl started getting treatment at the hospital in 2013 after moving from Texas, where Turner’s husband stayed behind.
The investigation into Olivia’s death began after doctors at the hospital became suspicious last year after Turner brought in her older daughter because of “bone pain,” according to the indictment.
During an interview, investigators said Turner spontaneously brought up Munchausen syndrome by proxy, a psychological disorder in which parents or caregivers seek attention from the illness of their children or dependents and sometimes cause them injuries that require attention.
“That has never been my case, like at all, whatsoever,” she said in the interview.
During the investigation, authorities separated Turner from her older daughter to see if the girl would still report the same symptoms. The daughter has not had any additional medical problems or complaints of pain since October 2018, the indictment said.
It’s not immediately clear how old the girl is or whom she lives with now.
The daughters were ensured by Medicaid, and Turner is accused of fraudulently obtaining about $539,000 worth of care from the government-funded program.
Children’s Hospital Colorado issued a statement saying it declined to comment to avoid compromising the case.
Photo Credit: Douglas County Sheriff’s Office
Man hanged himself after suffering months-long toothache
A man hanged himself after suffering months of an agonizing toothache, his mother said in court.
Anthony Hoskins, 38, was found dead in his Southampton, England, flat on April 3.
He was on the waiting list to have his wisdom teeth removed – but downed painkillers and whiskey every night to help him sleep through the pain.
His mom, Shirley, said he’d “had enough of the pain” just weeks before he died, testifying in Winchester Coroner’s Court heard.
She said: “Anthony was just a normal man who got on with life.
“He enjoyed playing computer games and had no financial problems. His rent was always paid, along with other utilities and he would see me weekly.
“Anthony is at rest now and will not suffer any more pain. The really sad thing is that it cost me almost the same amount of money to pay for his death that it would have to have private dental treatment.”
A bank receipt found near his body revealed he was overdrawn by £3,000 ($3,890) and had begged his bosses for more overtime.
Officer Simon Collins said at the hearing cops forced entry into Hoskins’ one-bed flat after his worried mom said she had not heard for him for a few days.
Acting area coroner Samantha Marsh recorded a conclusion of suicide.
via: https://nypost.com/2019/10/21/man-hanged-himself-after-suffering-months-long-toothache/
Photo Credit: iStockphoto
Brothers accused of saving meth equipment, letting grandma die in fire
Two upstate New York brothers allegedly left their 82-year-old grandmother to die in a house fire — but salvaged their meth-making equipment, according to reports
Justin Gause, 21, and his 33-year-old brother, Jarrett, were indicted last week on second-degree murder charges for the May 14 death of Gladys Ann Willow at her Riverside home, according to The Star Gazette.
The brothers allegedly saved the drug paraphernalia from the blaze but left Willow inside the home, the Steuben County district attorney told WETM.
The duo then went to buy cigarettes without reporting the blaze, the prosecutor added.
Jarrett Gause was arrested last week after the grand jury indictments were unsealed. He remains in police custody.
Justin, who was initially the only sibling to be charged after the blaze, is out on bail.
via: https://nypost.com/2019/10/21/brothers-accused-of-saving-meth-equipment-letting-grandma-die-in-fire/
Photo Credit: nypost.com
Wendy Williams Says She Brought Her Son to a Strip Club and Taught Him How to ‘Make It Rain’
Wendy Williams imparted a very unique lesson to her 19-year-old son, Kevin Hunter Jr., recently.
On Monday’s episode of The Wendy Williams Show, the talk show host revealed that, while in Los Angeles, California, to receive her star on the Hollywood Walk of Fame last week, she took her son, whom she shares with estranged husband Kevin Hunter, and nephew, Travis, to a strip club — where she taught them how to “make it rain!”
“First of all, I didn’t think anything of this was going to be happening, Second of all, I think a guy is supposed to go with their father if they wanna go to a strip club,” she began. “He asked me, like, three months ago, ‘Mom, take me to a strip club.’ Are you outta your mind!?”
“But, when we were out in L.A., somehow the spirit hit me… ‘I got two kids and I’m in nursing school and I’m only doing this… Miss Wendy, please don’t judge me,'” she said, doing her best impression of a stripper speaking with her mid-dance at the club, adding her response, “I’m like, ‘I’m not judging you. Look, can you move over to my son?'”
However, when her son got a dance, Williams complained that he was just “dropping” the money on the exotic dancers, which she was not OK with.
“I’m like, ‘Girl, come back over here,'” she added as the audience laughed. “Do it again.” That’s when she pantomimed sliding dollar after dollar at the dancer in one continuous motion. “I’m like, ‘What’s wrong with you two!?'” she proclaimed. “You gotta make it rain!”
Following her ceremony on the Hollywood Walk of Fame on Thursday, the 55-year-old TV personality spoke with ET about what getting a star means to her after a decades-spanning career in the spotlight.
“It’s a combination of over 30 years of being a personality,” Williams told ET. “It’s not easy being on TV for 10 years, by yourself, live. This has been a really hectic year for me, but also a hectic career. You know, triumph over adversity. Stick to it, Wendy, you’ll show ’em. You’ll show ’em. And now, it’s my pleasure to show you.”
She also took a moment to discuss what the honor means to her only child, stating, “My son is here with me … he’s only 19, he’s only known me as Mom with the microphone, and then Mom in the headlines, and Mom saying out-of-order stuff,” she explained. “So, this star means everything. Because now he’s got something to look at and say, ‘My mom did it.'”
via: https://currently.att.yahoo.com/entertainment/wendy-williams-says-she-brought-221644372.html
Photo Credit: currently.att.yahoo.com
9-year-old boy arraigned on 5 murder charges in deadly mobile home blaze
A 9-year-old boy was arraigned Monday on charges of murdering five relatives in an Illinois mobile home fire, a report said.
Kyle Alwood appeared confused at times during the half-hour hearing and quietly cried at its conclusion, before being escorted out by his grandparents, who are caring for him, according to The Journal Star.
The child is facing five counts of first-degree murder for allegedly setting the April 6 blaze in Goodfield, Ill. that killed three kids and two adults – ranging in age from 1 to 69-years-old.
After the blaze broke out, the boy ran next door to the home of his maternal grandparents and shrieked “The house is on fire! Help!” the report said.
The boy’s 28-year-old mother Katrina Alwood, who survived the blaze, has backed her son.
“Everyone is looking at him like he’s some kind of monster, but that’s not who he is,” she told CBS News earlier this month. TOP ARTICLES2/5READ MORETMZ’s Van Lathan fired after newsroom spat withMichael Babcock
“People make mistakes, and that’s what this is. Yes, it was a horrible tragedy, but it’s still not something to throw his life away over.”
Kyle is due back in court on Nov. 22. Because of his age, he cannot be held in custody between hearings.
He will also avoid incarceration if convicted. He could, however, face probation, therapy and counseling, the report said.
Photo Credit: AP
2 teens urinated on someone and used racial slurs at a football game in New Jersey
LAWRENCE, N.J. — Two New Jersey teenagers face multiple charges after someone was urinated on and racial slurs were used at a high school football game, police said.
The incident occurred Friday night at the Lawrence High School football game, Lawrence Township Police said in a news release.
The teenagers, who live in Lawrence Township, are 17-year-old boys and face several counts of harassment, bias intimidation and lewdness in connection with the incident, police said.
Police did not give the race of the victim, and did not respond to requests Sunday asking for additional information. The two statements police issued Saturday did not say what racial slurs were allegedly used. Neither did the post on the department’s Twitter page.
The incident is still being investigated, police said.
In statements, the township’s mayor and school district said bias incidents don’t belong in their community.
“As I have said publicly before, hate has no home in Lawrence Township. As someone that has felt its sting, I know that bigotry exists and sadly will continue to exist but that doesn’t mean that I give up. Instead I look to find allies that will help me fight the cancer of bigotry,” Mayor Christopher Bobbitt said in a Facebook post.
A Facebook post from Lawrence Township Public Schools said: “We take these incidents seriously and we will continue to investigate until all of the facts are uncovered.”
“To echo Mayor Bobbitt, ‘hate has no home in Lawrence Township,’” the statement said.
Lawrence Township is northeast of Trenton, the state’s capital.
Photo Credit: Getty Images
Mother finds unknown woman in home about to bathe her 2-year-old
An Ohio woman faces a felony trespassing charge after she broke into a woman’s home and was about to bathe the woman’s child, police say.
Elizabeth Hixon, 22, was arrested last week after police say she entered the home of Areica Hill, 31, in Columbus through an unlocked door.
Hill told WCMH-TV she was horrified when she woke up Wednesday morning to find the woman in her home, about to give a bath to her 2-year-old son.
“I’ve never heard of anything like this,” Hill told the TV station.
According to a police report, Hill and her boyfriend heard a dog walking around with a chain leash dragging on the floor of their apartment. The couple then found a black and white dog and the woman in their home.
“I get up and I walk to my door, and the way my house is set up, I can look down the hall,” Hill told the TV station. “I see a white female lady, bent over the tub, with my 2-year-old in the tub.”
Hixon is scheduled to appear in court again Friday. A call to an attorney who represented her in another case was not immediately returned.
Hixon’s mother told WCMH-TV that her daughter did not have ill intentions.
via: https://currently.att.yahoo.com/news/mother-finds-unknown-woman-home-163052920.html
Photo Credit: Getty Images