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How money makes a difference

Last updated on: November 12, 2010 11:04 IST

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While one half of the world's population is amassing wealth, the other half lives in penury.

While the rich go on to buy yachts and aircraft, the poor still struggle hard to eke out a living.

Despite the economic boom, the rich-poor divide is only rising across the globe.

Here's a look at the stark reality of the rich and poor!

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Image: Visitors tour a motor yacht for sale at the United States Powerboat Show in Annapolis, Maryland.
Photographs: Molly Riley/Reuters.
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At least 20 passers-by gave the woman banknotes during a 20-minute span.

In 2007, when the world was on the brink of financial crisis, US income inequality hit its highest mark since 1928, just before the Great Depression.

Economists are only beginning to study the parallels between the 1920s and the most recent decade to try to understand why both periods ended in financial disaster.

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Image: A panhandler begs for money on Fifth Avenue in New York.
Photographs: Finbarr O'Reilly/Reuters.
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Rolex watches are more of a status symbol and are listed among the most valuable global brands.

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Image: Women walk past a window display of luxury goods maker Rolex in Paris' Place Vendome.
Photographs: Charles Platiau/Reuters.
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Two-year-old Angel Guevara's family is being evicted from their aprtment in Los Angeles.

The tenants were paying rent, but had their trash services cut off and are now being evicted after the owner failed to pay the mortgage.


Image: Angel Guevara.
Photographs: Lucy Nicholson/Reuters
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The United States Sailboat Show attracts boating enthusiasts from around the world to the waterfront of historic Annapolis, Maryland.

A premier sailing showcase, this exhibition is the place to buy and sell some of the most expensive sail and power boats.

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Image: A bartender pours martinis on a yacht at the United States Sailboat Show in Annapolis, Maryland.
Photographs: Molly Riley/Reuters.
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The unemployment rate has risen to 9.6 per cent in the United States. Around 54,000 jobs were lost in August.

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Image: Harvey, a homeless man, begs for money along 14th Street in Washington.
Photographs: Stelios Varias/Reuters.
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How money makes a difference

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The fur with a sticker price of $26,400 is meant for private collection at a luxury goods show in Beijing.

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Image: A visitor looks at the fur of a polar bear.
Photographs: Jason Lee/Reuters.
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How money makes a difference

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The recession is not yet over for the common people in the US.

One in eight people now rely on food donations from charity organisations.

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Image: Homeless men sleep in a park while people wait in line to purchase pizza in Washington.
Photographs: Molly Riley/Reuters.
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Despite the recession, Russia saw the most opulent millionaire fair.

A diamond-studded saucepan, with a whopping price tag of $209,000 drew lot of attention. Russia has been hosting the millionaire's fair since 2005.

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Image: A man smokes a cigar during the opening night of the Millionaire Fair in Moscow.
Photographs: Thomas Peter/Reuters.
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Sacramento's tent city has seen an increase in population as unemployment numbers rise steadily.


Image: A campsite at a homeless tent city in Sacramento, California.
Photographs: Max Whittaker/Reuters.
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