For every $10 worth of wealth created last year, the world's richest 1
percent grabbed $8, according to a new report from Oxfam International.
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
The report also estimated the bottom 50 percent of the world's population saw no increase in wealth.
Note Insure-Digest: This disparity problem could easily be given some relief through the reduction of military budgets around the world, and funneling these funds to less fortunate countries. Looking at the Military Industry world-wide - the US spends $ 611.2 billion per year on their military complex. This is double the amount of what China and Russia are spending together. Another remarkable fact is that the autocratic Kingdom of Saudi Arabia's military budget of $ 89.9 billion is more than that of Russia, which is $65.6 billion. And really, if we think about it,what has all that global military hardware brought us? Even more human misery and disparity.
Read more: The 1% grabbed 82% of all wealth created in 2017 | SBJ
"The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system," said Winnie Byanyima, executive director of Oxfam International.
The report also estimated the bottom 50 percent of the world's population saw no increase in wealth.
Note Insure-Digest: This disparity problem could easily be given some relief through the reduction of military budgets around the world, and funneling these funds to less fortunate countries. Looking at the Military Industry world-wide - the US spends $ 611.2 billion per year on their military complex. This is double the amount of what China and Russia are spending together. Another remarkable fact is that the autocratic Kingdom of Saudi Arabia's military budget of $ 89.9 billion is more than that of Russia, which is $65.6 billion. And really, if we think about it,what has all that global military hardware brought us? Even more human misery and disparity.
Read more: The 1% grabbed 82% of all wealth created in 2017 | SBJ
