World’s five richest men double their money as poorest get poorer

https://www.theguardian.com/inequality/2024/jan/15/worlds-five-richest-men-double-their-money-as-poorest-get-poorer

Profit is king, the poor are only livestock to create wealth for the wealthy, mindless uneducated drones to serve their betters / masters.  Right wing billionaire bought a president and with that came all new courts aided by a willing republican congress.  All to destroy any assistance for the lesser incomes / poor / workers and keep all power in the hands of the most wealthy people.   In their minds they are the only real people, the public is not people like the wealthy are, they are a lessor people, a sub human class who should be kept desperate for any job at any low wage in any dangerous working conditions offered simply to survive.  And to accomplish this the right keeps their people busy hating minority groups like immigrants, gays, trans, and even non-Christian groups.   Hugs.  Scottie

Side note:  I had my spine epidurals yesterday, in the L4s5, both sides.   Very painful.   This morning I have my allergy shots, which last week left in a full-blown allergic reaction.   The doctor was not happy when I saw him and talked to him about it.   I suspect the nurses will grill me on it and lower my doses.  Which means I will have to stay on once a week longer.   Hugs.  Scottie 


Oxfam predicts first trillionaire within a decade, with gap between rich and poor likely to increase

Demonstrators hold a homemade sign saying Tax the Rich in downtown Davos, Switzerland, on January 14.

Demonstrators in Davos on Sunday. A wealth tax of 1% to 2% on wealth above £10m could bring in £22bn a year for the UK. Photograph: Denis Balibouse/Reuters

The world’s five richest men have more than doubled their fortunes to $869bn (£681.5bn) since 2020, while the world’s poorest 60% – almost 5 billion people – have lost money.

The details come in a report by Oxfam as the world’s richest people gather from Monday in Davos, Switzerland, for the annual World Economic Forum meeting of political leaders, corporate executives and the super-rich.

 

The yawning gap between rich and poor is likely to increase, the report says, and will lead to the world crowning its first trillionaire within a decade. At the same time, it warns, if current trends continue, world poverty will not be eradicated for another 229 years.

Highlighting a dramatic increase in inequality since the Covid pandemic, Oxfam said the world’s billionaires were $3.3tn (£2.6tn) richer than in 2020, and their wealth had grown three times faster than the rate of inflation.

The report, Inequality Inc., finds that seven out of 10 of the world’s biggest corporations have a billionaire as CEO or principal shareholder, despite stagnation in living standards for millions of workers around the world.

Head and shoulders of Elon Musk, mouth slightly agape, looking sideways, with a blue lanyard and a black suit with white shirt.
Will Elon Musk be the world’s first trillionaire? Photograph: Reuters

Compiled using data from the research company Wealth X and Forbes, it says the combined wealth of the top five richest people in the world – Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison and Mark Zuckerberg – have increased by $464bn, or 114%. Over the same period, the total wealth of the poorest 4.77 billion people – making up 60% of the world population – has declined by 0.2% in real terms.

“People worldwide are working harder and longer hours, often for poverty wages in precarious and unsafe jobs,” the report says. “Across 52 countries, average real wages of nearly 800 million workers have fallen. These workers have lost a combined $1.5tn over the last two years, equivalent to 25 days of lost wages for each worker.”

Mirroring the fortunes of the super rich, it also says business profits have risen sharply despite pressure on households amid the cost of living crisis. It finds 148 of the world’s biggest corporations together raked in $1.8tn in total net profits in the year to June 2023, a 52% jump compared with average net profits in 2018-21.

Calling for a wealth tax to redress the balance between workers and super-rich company bosses and owners, the report says such a levy on British millionaires and billionaires could bring in £22bn for the exchequer each year, if applied at a rate of between 1% to 2% on net wealth above £10m.

Julia Davies, an investor and founding member of Patriotic Millionaires UK, a nonpartisan group of British millionaires campaigning for a wealth tax, said levies on wealth were “minuscule” compared with taxation on income from work.

“Just imagine what £22bn a year invested in public services and infrastructure could pay for; improving the lives of every one of us who live in the UK and providing our elderly, young and vulnerable with the care and support they need and deserve,” she said.

Oxfam said the most recent Gini index – which measures inequality – found that global income inequality was now comparable with that of South Africa, the country with the highest inequality in the world.

The world’s richest 1% own 59% of all global financial assets – including stocks, shares and bonds, plus stakes in privately held business. In the UK, the richest 1% own 36.5% of all financial assets, with a value of £1.8tn.

Aleema Shivji, Oxfam’s interim chief executive, said: “These extremes cannot be accepted as the new norm, the world can’t afford another decade of division. Extreme poverty in the poorest countries is still higher than it was pre-pandemic, yet a small number of super-rich men are racing to become the world’s first trillionaire within the next 10 years.

“This ever-widening gulf between the rich and the rest isn’t accidental, nor is it inevitable. Governments worldwide are making deliberate political choices that enable and encourage this distorted concentration of wealth, while hundreds of millions of people live in poverty. A fairer economy is possible, one that works for us all. What’s needed are concerted policies that deliver fairer taxation and support for everyone, not just the privileged.”

2024: ALL HELL’S BREAKING LOOSE! | Christopher Titus | Armageddon Update

10 Facts About “Illegals” A Guide For Racist Idiots

The Experiment

Once Public Schools are Largely Dead, Here’s What Happens Next…

https://hartmannreport.com/p/once-public-schools-are-largely-dead-ec4

Please notice the three factors that drive republicans, racism, money, religion.  In that order.  Hugs.  Scottie


Republicans will then begin lobbying to “reduce spending” by cutting the amount allocated for the vouchers, locking the emerging two-tier status of publicly funded education into place…

US Oil Production Has Broken Records Under Biden

Let’s shout this from the rooftops.  This is for the fox / right wing media watching jerks that think gas prices are up because we don’t pump enough oil out of the ground, ruining the environment.  They shout under tRump the US was energy independent.  They are showing how clearly they don’t understand the oil to gas production.  The US has always pumped the most oil.  What we don’t do is refine most of it to the kinds of fuel we need most here, because as I understand it, the refineries are set up for a different type of oil.   The oil from the US is mostly not the right kind to make the fuels we use.  Also oil is sold on a worldwide market and oil companies can make more money selling it over seas than here.  We need more refineries to refine the oil into the fuels we need here, but again that cuts into the profit margin of the oil / gas companies.   And in the US, profit is king.  The Saudis pump the kind of oil we need, it is imported.  They can screw with us to keep us doing what they want by restricting the amount they pump / sell.  The right wing people are too uninformed to know that they are bowing to the Saudi government every time they scream at and blame Biden for gas prices.  And compared to a lot of advanced countries, the US has relatively cheap gas.   Oh and closing the Keystone 2 pipeline before it could operate did not cause a fuel price increase / shortage.  The pipeline was never used.  Plus the oil that would run in it was destined to be sent out of the country.   Hugs.  Scottie


December 31, 2023

The Washington Post reports:

You won’t hear President Biden talking about it much, but a key record has been broken during his watch: The United States is producing more oil than any country ever has. The flow of huge amounts of crude from American producers is playing a big role in keeping prices down at the pump, diminishing the geopolitical power of OPEC, and taming inflation.

The average price of a gallon of regular gasoline nationwide has dropped to close to $3, and analysts project it could stay that way leading up to the presidential election, potentially assuaging the economic anxieties of swing state voters who will be crucial to Biden’s hopes of a second term.

But it is not something the president publicly boasts about. The politics of oil are particularly tricky for Democrats, whose chances for victory in the 2024 elections could hinge on whether young, climate-conscious voters come out in big numbers.

Read the full article.

 

 

At almost the end of the piece:

 

A short-term boost in domestic oil production and a corresponding decline in gas prices could have a long-term benefit for environmentalists — helping prevent the return to power of Trump and other deniers of climate change, said Josh Freed, the director of climate and energy at the center-left think tank Third Way.

“The fastest way to end all of American climate action is to see oil prices dramatically rise and have Republicans get elected to office,” he said, commending Biden’s handling of the issue.
 
 

Too fucking old, my ass.

And he’s just getting started.

Biden 2024!

 
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It’s not like Trump is much younger, either. But people have drunk the Fox News kool-aid on this, and (of course) the Dems haven’t done enough to counter that messaging.

I’m looking forward to seeing Dark Brandon this year, pulling out ALL the stops and hitting the Do Nothing House…. hard!!!!

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I hope so. I just pray that his people are fighters.

The world cannot afford another four years of the orange asshole.

I so wish Dems knew how to do even the smallest bit of framing and messaging.

Buy some swag! I’m tired of being the ONLY car w/ a Biden sticker on it.

joebiden.com

I have kept my Biden sticker on the rear bumper of my Ford focus since 2020.

And there it will stay.

What a sticky widget. Oof. He’s done more for EV, solar and wind infrastructure than any other administration. And yet, this situation. I’m honestly incredibly impressed at the administration’s ability to thread the needle, ya know?

While I 100% agree we need to get off carbon usage, if it solidifies a Biden win, I’m all for it.

In 1974 gas was $0.59 a gallon

$0.59 in 1974 is worth $3.79 today in buying power.

 

Can Lucky Ducky Find a Home?

This is a great cartoon.  Please go to the link above and read it, and understand that is how the wealthy really think of the rest of us, and our having anything.   Hugs.  Scottie

What *Really* happens to used Electric Car Batteries? – (you might be surprised)

Thanks again to Ten Bears for a wonderful video.   In case you are not aware, Ten Bears posts daily lists of links to a diverse collection of stuff.  His site is well worth a daily visit but you may end up with a lot more stuff to watch or read.   Hugs.  Scottie

How are Lithium Batteries Recycled? Today we find out. Whether its Electric Car batteries, cell phone batteries, or tool batteries the process is all the same. HUGE thanks to Li-Cycle for giving us a tour: https://www.li-cycle.com/ if you’re looking to recycle your old cell phone or battery, you can find a drop off location here: https://www.call2recycle.org/locator/ and Call2Recycle will handle the rest. Lets get those old electronics and batteries turned into NEW technology!

The Roads to What Started the Civil War

Ukraine Aid Helps US States

But republicans on Putin’s payroll or his blackmail list they don’t care, it is not making their master happy.   His will be done in all things.   See one DJT or as we know him TFG, among other names.   Hugs.   Scottie