Wednesday, January 21, 2015
Who Owns the North Pole - Part 82
How The Rich Get Richer
The world's richest people, about 1 per cent of the population, have accumulated so much money that they now have about 48 per cent of the world's assets. The remaining 52 per cent is not distributed equally amongst the average-income earning citizens, according to Oxfam, almost all the remaining 52 per cent are in the pockets of the richest people in the world , which is just about 20 per cent of the population.
This means of course that 80 per cent of the population own only 5.5 per cent of the wealth. Their average wealth is only $3.8851 (Dh 14,000) per adult, which is 1/700 th. of the average wealth of the 1 per cent. These statistics leads to this conclusion. 'Winnie Byanyima, executive director of Oxfam International , says the scale of global inequality is quite simply staggering and despite calls for eradicating poverty, the gap between the rich and the poor just keeps getting wider each year.'
A recent Oxfam research paper revealed how the super rich invest their money. According to it a large number of the richest billionaires like Warren Buffett, George Soros or Michael Bloomberg have all invested in financial and insurance sectors. They have seen their wealth grow by 15 per cent in a single year, from $1 trillion to $1.6 trillion.
Other billionaires like Ludwig Merckle from Germany and Dillip Shanghvi from India invested in healthcare and pharmaceuticals and witnessed their fortunes grow by 47 per cent. Merckle saw his wealth grow in one year by 21 per cent, from $7.1 billion in 2013 to $8.6 billion last year.
Not only do these billionaires invest in lucrative deals they also have to protect their investment so they spend large fortunes influencing government officials to pass the necessary legislation to protect their investments. Last year the finance sector spent more than $400 million on lobbying in the US alone and according to Oxfam spent $150 million on EU institutions.
It is difficult to convey the immense wealth enjoyed by these billionaires but here are a few figures that might convey how crazy capitalism has become in modern times. Warren Buffett: Source of Wealth: Berkshire Hathaway Wealth in 2014 :$58.2 billion increase in wealth between 2013 & 2014: 9%.
Michael Bloomberg: Source of Wealth Bloomberg LP Wealth in 2014, $33 million Increase in wealth between 2013 &2014: 22% George Soros: Source of Wealth : Hedge funds Wealth in 2014 : $23 billion Increase in wealth between 2013 & 2014: 20%. Amidst these dizzying figures one simple concept should not be lost however. It is simply that all wealth is produced by the working class. The owning class produce nothing. They live of the exploitation of the working class. It is the surplus value that the workers produce that allows these capitalist parasites to live in ease and luxury. RD
(Main source gulfnews. com, 20 January)
Sacrifice For Others
Why Socialism
Tuesday, January 20, 2015
In-work poverty
Lower Prospects
The forecast for global economic growth for this year and next has been lowered by the International Monetary Fund (IMF). 'The IMF now expects growth of 3.5% this year, compared with the previous estimate of 3.8% which it made in October. The growth forecast for 2016 has also been cut, to 3.7%. The downgrade to the forecasts comes despite one major boost for the global economy - the sharp fall in oil prices, which is positive for most countries. The IMF expects that to be more than offset by negative factors, notably weaker investment.' (BBC News, 20 January) Lower forecasts don't look good for workers' prospects. RD
Below The Minimum
Preserve Capitalism Or Conserve the Planet
Monday, January 19, 2015
Forgetting About Planet Earth
The Rich Get Richer
Legal Action
Socialism cannot wait
Sunday, January 18, 2015
$95,000 For A White Truffle!
Recently released figures by Oxfam clearly show the inequalities in society. Eighty-five of the world's billionaires collectively have as much money as the 3.5 billion poorest people. Between March 2013 and march 2014, those eighty -five had their wealth increased by $668 million – that's $1.8 million a day just for the increase! Russian mining 'tycoon', Vladimir Potanin spent $95,000 on a 1.8 kg white truffle – he's worth $13.9 billion so can afford it. It would take Bill Gates two hundred and eighteen years to spend all of his money if he spent a million dollars a day, not taking into account interest on what would be left each day. It would take ninety three years for a South African platinum miner to earn the average CEO's annual average bonus. Sound crazy? You bet. We must get rid of such stupidity. John Ayers.
A Desperate Plight
Capitalism must go
Saturday, January 17, 2015
Neither the Saltire or Union Jack but the Red Flag (video)
British Threat
More Platitudes
Whisleblowers Beware
For a social revolution
Friday, January 16, 2015
Having to beg for a morsel
Belgian Intervention
Money Money Money
Mere Doggerel
More Prejudice
Capitalism Must End
Thursday, January 15, 2015
Capitalism Is Unpredictable
Anti Semitism
Housing Shortage
Looking Forward
Wednesday, January 14, 2015
Health Threat
Terminally Ill Left To Die
Coalition Split
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