Poor Will Take Over Decade to Recover From Lockdowns; Rich Thrive Under “Rigged Economic System”

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Planet Free Will: In what is no secret to any regular reader of this blog, the COVID-19 pandemic and the lockdowns it justified has – in the words of World Health Organization special envoy David Nabarro – made the poor a lot poorer. All the while billionaires have managed to cash in on their political connectivity and unbalanced exposure to inflating asset markets.

DID YOU KNOW: The top 10% owns 87% of all stocks?

To break it down further:

•Top 1% owns 52%

•Top 90-99% owns 35%

•50-99% owns 12%

•Bottom 50% owns .7%

In iteration of this, a report titled “Mega-rich recoup COVID-losses in record-time yet billions will live in poverty for at least a decade” released by Oxfam on Monday reveals that the COVID-19 pandemic (we like to blame the lockdowns here …) and its economic ripple effects is negatively affecting just about every country globally at once.

In particular, it is going to strike hard at the lower rung of the economic ladder, with – as the title suggest – the report claiming that “it could take more than a decade for the world’s poorest to recover from the economic impacts of the pandemic.”

Oxfam points to a “rigged economic system” enabling a super-rich elite to amass wealth in the middle of the worst recession since the Great Depression while billions of people are struggling to make ends meet. Read More …

Opinion: A clear parallel to the ending of the prophecy found in Revelation 6:5-6

When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.”

In the coming global hyperinflation, only the super rich (1%) will be able to afford the luxury of oil and wine. And it is the super rich today who have not only recovered from the Covid lockdown but have seen their wealth rise 40%

U.S. Billionaire Wealth Rises 40%, Up $1.1 Trillion, Since March 2020

As we have continued to document, Central Bank “responses” to the Covid pandemic have done little for lower and middle class Americans and continue to disproportionately enrich the already wealthy. 

Further evidence of how the Fed’s flawed policies work, in action, came from the Institute for Policy studies and Americans For Tax Fairness, who yesterday issued a press release noting that 10 months into the Covid crisis, America’s billionaires have seen their wealth rise 40%, or $1.1 trillion. read more

.What began as a solution to the 2008-9 financial crisis, massive money printing (quantitative easing), is now the de facto method for solving every financial crisis.

So what does QE do? It pumps trillions into banks and institutions who buy assets like stocks and bonds that make interest rates go down and stocks and bonds go UP UP UP.

Guess who owns the most of that stuff?

See “The 1% and Revelation: “Do Not Harm the Oil and Wine” here

 

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