Oxfam’s report is usually released prior to the World Economic Forum annual meeting in Davos, Switzerland – but the gathering of the world’s richest and most powerful has been postponed again this year due to the pandemic.
Last week, WEF released their Global Risks Report 2022, warning that the lopsided economic recovery from the coronavirus, much of which has relied on the roll-out of vaccinations, has deepened divisions within and between nations. They noted that it is sure to cause additional tensions, resentments and further complicate nations’ responses to climate change, economic disparities and social instabilities.
Oxfam, a UK founded confederation of 21 independent charitable organizations focusing on the alleviation of global poverty, are telling us that the 10 richest men in the world have seen their global wealth double to $1.5 trillion since the start of the global pandemic following a surge in share and property prices that has widened the gap between rich and poor.
The net worth of the world's top 10 billionaires (based on Forbes Billionaires List):
- Elon Musk $294.2bn up 1,016%
- Jeff Bezos $202.6bn up 67%
- Bernard Arnault & family $187.7bn up 130%
- Bill Gates $137.4bn up 31%
- Larry Ellison $125.7bn up 99%
- Larry Page $122.8bn up 125%
- Sergey Brin $118.3bn up 125%
- Mark Zuckerberg $117.7bn up 101%
- Steve Ballmer $104.4bn up 85%
- Warren Buffett $101.5bn up 40%
Urging governments to impose a one-off 99% wealth tax on Covid-19 windfall gains, the charity said World Bank figures showed163 million more people had been driven below the poverty line while the super-rich were benefiting from the stimulus provided by governments around the world to mitigate the impact of the virus.
Oxfam already project that by 2030, 3.3 billion people will be living on less than $5.50 per day.
The said report warns “We enter 2022 with unprecedented concern”, arguing that the current global state of extreme inequality is a form of “economic violence” against the world’s poorest people and nations.
The report points out that since 1995, the world’s top one-percenters have captured nearly 20 times more of global wealth than the bottom 50 percent. And the pandemic has only made things much worse.
Wealth inequality does not just harm people. It hurts the planet as well. Twenty of the richest billionaires are estimated to be emitting as much as 8,000 times more carbon than the billion poorest people, according to Oxfam.
They were without Mohamed Salah and Sadio Mane who are playing at the African Cup of Nations and their lack of potency in attack was evident as they struggled to open up a determined Brentford defence.
The home side finally broke through in the forty-fourth minute when a corner from Trent Alexander-Arnold bounced to the back post and was nodded home by Fabinho. In the sixty-ninth minute, Oxlade-Chamberlain stooped at the back post to head in a wonderful cross from left back Andy Robertson. And then substitute Takumi Minamino wrapped up the win, tapping home after Brentford’s attempt to play out from the back was intercepted by Roberto Firmino who set up the Japanese forward for a simple finish eight minutes later.
The Reds are eleven points behind the Citizens – indeed, they should know that they have a mountain to climb if they intend to oust the table toppers. Admittedly, it will take a spectacular and sudden disintegration in Manchester City's form – they have dropped just 10 points so far this season – and a near flawless run-in from Liverpool to reverse the teams' standings by May.
No matter, I BELIEVE!
It will be foolhardy to write Liverpool off – there is still a lot to play for before you can consider Liverpool's challenge is over. All it needs is for the Reds to stay on City's tail for a little while longer, then their game at Etihad Stadium at the start of April could become huge. For that to happen, though, there really is no room for error anymore.
Every game feels like it is a must-win for Jürgen Klopp now and definitely, the pressure is on – but if there’s any team that can pull it off, it’s Liverpool!
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