At a recent IMF event on recovering nations from the coronavirus pandemic, UN Secretary-General António Guterres said that the COVID-19 coronavirus plunged over 100 million people into poverty, with over 4 billion people with little or no social support. Hardly anyone would deny that the coronavirus pandemic is having a disastrous impact on the world, […]
Posts Tagged ‘wealth’
GLOBAL TAX: At UN Meeting, the Vatican calls for redistribution of Wealth to Overcome ‘Economic Inequality’
Vatican foreign minister Archbishop Paul Gallagher has called for increased redistribution as a necessary means of overcoming economic inequality, the Catholic News Service reported Wednesday. Yesterday, the big headline was ‘World Leader Reach Landmark Deal On Global Tax Rate’, and everyone got all excited at this latest New World Order update. But NTEB told you back in […]
The US Is Officially A Banana Republic: The Top 1% Now Own More Wealth Than The Entire Middle Class
In some ways, we sympathize with Neel Kashkari’s fake “concern” about the unprecedented wealth inequality that has emerged in the US in recent years and which has resulted in a slow, methodical and relentless destruction of the US middle class … or rather make that precedented because there was another time when the top 0.1% had amassed as […]
NYT runs interference for billionaires who don’t want their wealth taxed
Image Credit: Getty Images; Mike Blake/Reuters According to a White House analysis (9/23/21), the country’s 400 wealthiest families have an effective tax rate of just over 8%. At the New York Times (9/23/21), reporter Jim Tankersley was quick to cast doubt on the figure. According to Tankersley’s framing, the analysis “seeks to show a gap […]
UAE’s wealth fund seeks to invest in Turkey, report says
Investment funds in Abu Dhabi are looking for investment avenues in Turkey, Bloomberg reports. According to the report, the negotiation meetings between the funds from the United Arab Emirates and companies in Turkey have been ongoing for months. Abu Dhabi Investment Authority (ADIA), the emirate’s biggest wealth fund, is among the organisations that want to […]
Scheer Intelligence: Prisons Enable America’s Obscene Wealth
Above photo: Eddie Conway. J.M. Giordano/City Paper. On this week’s “Scheer Intelligence,” prisoner-turned-journalist Eddie Conway talks about how the immorally cheap labor of those caught in the prison industrial complex is the shame of the U.S. economy. The story of Marshall “Eddie” Conway, a military veteran and former Black Panther who was imprisoned for 43 […]
The Data Shows The Fed Is Behind The Surging Wealth Gap
The data shows the Fed is behind the surging wealth gap. Such is despite protestations “Quantitative Easing” and “Zero Interest Rate Policy” do not affect the financial markets. Such was noted previously by Minneapolis Fed President Neel Kashkari: “QE conspiracists can say this is all about balance sheet growth. Someone explain how swapping one short-term risk-free instrument (reserves) for […]
COVID ‘Billionaire Boom’ Has Seen Aggregate Wealth More Than Double To $13 Trillion
(Zero Hedge) America’s billionaire class is now the second most “bloated” in the world after…Sweden? If that sounds strange, it’s just one example of how the global explosion in wealth is impacting the world in unexpected ways. This is according to research by FT contributing editor Ruchir Sharma, who has been tracking the global rise […]
Zuckerberg uses “climate change” as a shield to cover for his obscene wealth
Iowa Climate Science Education Is ?climate change? just the handy branding for the uber rich to hide behind? Mark Zuckerberg, the Facebook chief who deletes people to save The Earth, is also apparently working on owning an island by suing the hapless native Hawaiians who were in the way. His holiday house on Kauai Island […]
How The Federal Reserve Is Increasing Wealth Inequality
Above photo: Wenjia Tang for ProPublica. The Fed’s low-interest-rate policies have stabilized the economy and turbocharged the stock market. But those who don’t own lots of stocks haven’t benefited anywhere near as much as those who do. Ever since the COVID-19 pandemic struck, the Federal Reserve has gotten plenty of kudos for moves that have […]
Global Billionaires’ Wealth Increase By $4 Trillion During The Pandemic
As the S&P 500 and DJIA soared to new closing records on Monday even as New York State is reportedly on track to adopt a groundbreaking state wealth tax (the latest effort by Gov. Andrew Cuomo to distract from the twin scandals over sexual harassment of female aides and his office’s efforts to cover up […]
Bernie Sanders: Amazon CEO Bezos’ Power, Wealth ‘a Serious Problem’
Sunday on MSNBC’s “The Mehdi Hasan Show,” Sen. Bernie Sanders (I-VT) warned of the “serious problem” posed by Amazon CEO Jeff Bezos, who is one of the richest men in the world. Host Mehdi Hasan asked Sanders, “How much do you think representative democracy in this country is threatened by the power of a single […]
Gulf sovereign wealth funds eye Israel, but need time to make their first moves
News and Partnerships Life and Culture Columnists and Opinion Haaretz Heb and TheMarker Haaretz.com, the online English edition of Haaretz Newspaper in Israel, gives you breaking news, analyses and opinions about Israel, the Middle East and the Jewish World. © Haaretz Daily Newspaper Ltd. All Rights Reserved Source Views: 0
Maya Wealth Inequality Was Linked to Despotism, Claims Belize Study
A new study of hundreds of Maya habitations in Belize has revealed a massive wealth gap developed in the Classic Maya period. While it may not come as a surprise to discover that Maya society was authoritarian, through analysis of the remains of ancient houses, this research has concluded that societies with inequality of wealth […]
The House of Borgia: Family Of Great Renown, Wealth And Corruption
The House of Borgia was a noble family that rose to prominence during the 15 th and 16 th centuries. Originally from Spain, the family established itself in Italy, where they played an important role in the country’s affairs. On the one hand, they were great patrons of the arts, and contributed substantially to the Italian Renaissance. […]
World’s Ten Richest Men See Wealth Increase by Half a Trillion Dollars Since COVID Lockdowns
The world’s ten richest men, including Bill Gates and Jeff Bezos, have increased their wealth by half a trillion dollars since the COVID lockdowns began. A recent report by Oxfam reveals that huge numbers of the population have been plunged into poverty and have seen “the worst jobs crisis in over 90 years with hundreds […]
World’s Ten Richest People See Wealth Increase By Half A Trillion Dollars Since Beginning of COVID
By Arjun Walia A recent report by Oxfam shows that “the world’s ten richest men have seen their combined wealth increase by half a trillion dollars since the pandemic began.” On the other hand, the majority of people have been ushered into “the worst jobs crisis in over 90 years with hundreds of millions of […]
‘Why Not China?’ Protests Greet New Zealand Sovereign Wealth Fund’s Decision to Divest From Israeli Banks
A branch of Israel’s Bank Leumi. Photo: Reuters / Nir Elias / File. New Zealand’s sovereign wealth fund divested from five Israeli banks on Wednesday, citing their alleged funding of Israeli settlements in the West Bank as the reason, and drawing sharp criticism for focusing on the Jewish state while ignoring the world’s major abusers […]