HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Editorials & Other Articles (Forum) » 'Heads we win, tails you ...

Mon Apr 27, 2020, 04:50 AM

'Heads we win, tails you lose': how America's rich have turned pandemic into profit

From The Guardian:

As 26 million Americans lose their jobs, the billionaire class has added $308bn to its wealth

Never let a good crisis go to waste: as the coronavirus pandemic sweeps the world, America’s 1% have taken profitable advantage of the old saying.

Some of the richest people in the US have been at the front of the queue as the government has handed out trillions of dollars to prop up an economy it shuttered amid the coronavirus pandemic. At the same time, the billionaire class has added $308bn to its wealth in four weeks - even as a record 26 million people lost their jobs.

According to a new report from the Institute for Policy Studies, a progressive thinktank, between 18 March and 22 April the wealth of America’s plutocrats grew 10.5%. After the last recession, it took over two years for total billionaire wealth to get back to the levels they enjoyed in 2007.

Full story: https://www.theguardian.com/world/2020/apr/26/heads-we-win-tails-you-lose-how-americas-rich-have-turned-pandemic-into-profit



4 replies, 1717 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 4 replies Author Time Post
Reply 'Heads we win, tails you lose': how America's rich have turned pandemic into profit (Original post)
arenean Apr 2020 OP
gab13by13 Apr 2020 #1
SammyWinstonJack Apr 2020 #2
US4u2 Apr 2020 #3
magicarpet Apr 2020 #4

Response to arenean (Original post)

Mon Apr 27, 2020, 06:23 AM

1. Sounds like Naomi Klein's The Shock Doctrine,

or a Bernie Sander's speech.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to arenean (Original post)

Mon Apr 27, 2020, 06:40 AM

2. Disgusting.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to arenean (Original post)

Mon Apr 27, 2020, 06:44 AM

3. To quote Tom Hanks in that movie,

 

"There's no crying in baseball!"

Reply to this post

Back to top Alert abuse Link here Permalink


Response to arenean (Original post)

Mon Apr 27, 2020, 08:53 AM

4. The highly refined arts of societal and economic engineering.....

The billionaire class is WIN, Win, win,...

While the underclasses is LOSE, Lose, lose.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread