Rich richer, poor poorer

Fat cat bankers, cartoon

US corporate profits are soaring in the midst of the deepest economic slump since the Great Depression, on the basis of a ruthless policy of using mass unemployment to slash wages and heighten the exploitation of American workers: here.

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 trillion in 2014, while the total number of billionaires has grown by 11 percent: here.

Tens of thousands of distressed homeowners line up for assistance in Los Angeles: here.

USA: Firefighters were told to stand down as a family’s home burned because they had not paid a fee for fire protection: here.

A matter of days after losing everything they owned, including their home, their pets — everything — and all because of a delinquent $75 fee, Gene Cranick and his family were excoriated and teased by multimillionaire celebrity televangelist Glenn Beck: here.

Cash-Strapped States Resurrect “Debtors’ Prisons“: here.

Asian-Americans Out Of Work Longer: here.

A new study reports increasing social polarization among German youth and registers growing opposition by young people to capitalism: here.

10 thoughts on “Rich richer, poor poorer

  1. Greece strikes again over cuts

    Greece: Trade unions announced yesterday that civil servants will go on strike on Friday.

    The 24-hour walkout is in protest at government austerity measures.

    Tax offices, town halls and schools will all close, with hospitals operating with emergency staff only.

    Air traffic controllers are participating with a four-hour work stoppage which will ground all flights.


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