The world’s billionaires “did extremely well” during the coronavirus pandemic, growing their already-huge fortunes to a record high of $10.2tn (£7.8tn).
A report by Swiss bank UBS found that billionaires increased their wealth by more than a quarter (27.5%) at the height of the crisis from April to July, just as millions of people around the world lost their jobs or were struggling to get by on government schemes.
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The report found that billionaires had mostly benefited from betting on the recovery of global stock markets when they were at their nadir during the global lockdowns in March and April. UBS said billionaires’ wealth had hit “a new high, surpassing the previous peak of $8.9tn reached at the end of 2017”. The number of billionaires has also hit a new high of 2,189, up from 2,158 in 2017.
However, whilst all this has been going on where are we told to look? Oh yes that’s right. Some things beginning with ‘M’.
Marxism, Muslims and Migrants.
It is up to us to not to be distracted. It is up to us not to read the corporate billionaire media that intentionally distracts us. Then our lives can be worth remembering.
PS Social media seems to have a high level of tolerance for racists… but cannot wait to silence the decent. It may be time to find another medium.
Douglas James
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