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Chandra Muzaffar – Widening Economic and Social Inequalities, Billionaires Alongside the Global Impoverishment of the Human Family

It is not surprising that the Davos Forum held in the middle of January 2017 chose not to examine the obscene, grotesque, ever widening economic inequalities in the world brought to its attention  by Oxfam, the global aid and development confederation. Oxfam revealed on the 15th of January that “the richest eight tycoons on the planet are worth as much …

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8 men now own the same as the poorest half of the world: the Davos killer fact just got more deadly

It’s Davos this week, which means it’s time for Oxfam’s latest global ‘killer fact’ on extreme inequality. Since our first calculation in 2014, these have helped get inequality onto the agenda of the global leaders assembled in Switzerland. This year, the grabber of any headlines not devoted to the US presidential inauguration on Friday is that it’s worse than we …

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PAUL STREET – The Ruling Class’s Hatred of Trump is Different Than Yours

Much, maybe most, of the nation’s corporate, financial, and imperial establishment loathes Donald Trump. When’s the last time one of the corporate media’s presidential debate moderators actually argue with one of the two major party presidential contenders, as did the wealthy ABC News reporter Martha Raddatz (enraged by Trump’s lack of enthusiasm for a United States military confrontation with Russia in Syria) last Sunday?

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Eric Zuesse – America’s Subservience to Saud Family

The Saud royal family are by far the world’s largest buyers of US weapons. The King of Saudi Arabia is by far the world’s richest person, with a net worth well over a trillion dollars; and, when his (Aramco’s) 260 billion barrels of oil reserves were valued at $100 per barrel, his net worth was over $15 trillion. The King …

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Deirdre Fulton – As Europe’s One Percent Flourishes, Millions Sink into Poverty

On a continent that is home to some of the world’s richest people, most profitable businesses, and most valuable assets—including 342 billionaires—more than 120 million people are at risk of poverty, exemplifying the “unacceptable” levels of inequality sweeping Europe in 2015. That’s according to Oxfam, whose new report, A Europe for the Few, Not the Many (pdf), warns that the excessive …

Wealth

Wealth of world’s billionaires surges past $7 trillion

The combined net worth of the world’s billionaires has reached a new high in 2015 of $7.05 trillion, according to the latest compilation published by Forbes magazine on Monday. There are a record 1,826 billionaires, each with an average wealth of $3.8 billion. Relative to last year, the world’s billionaires have increased their combined wealth by more than 10 percent, from $6.4 …