In the shadow of the Davos summit of global elites taking place this week, a new report from Oxfam International details how skyrocketing inequality during two years of the global Covid-19 pandemic surged to a point where a new billionaire was created in the world nearly every day while over one million people are now being pushed into poverty at almost the same daily rate in 2022.
The new report — titled “Profiting From Pain” — is the latest accounting of how the pandemic has only deepened grotesque discrepancies between the haves and have-nots of the world, showing that while 573 new billionaires were created since the pandemic began, approximately one billionaire every 30 hours, an estimated 263 million are expected to “crash into extreme poverty” this year — a rate of one million people every 33 hours.
— source truthout.org | May 23, 2022