The Phaserl


Child Poverty Jumps by 2.6 Million As Global Billionaires Double

from Zen Gardner:

Two headlines came across my screen today, which taken together pretty much sum up the effects of policy decisions made by Central Bankers and politicians since the financial crisis. The financial oligarchs got bailed out, and the rich got richer due to decisions made by “leaders” around the globe. As such, the entire planet has now been transformed into a neo-feudal tinderbox. Myself and countless others warned all the way back to 2008 that this is what would happen, and here you have it.

Let’s first examine the results from Oxfam’s report on the billionaire growth spurt. I hope all 1,645 of you have sent thank you notes to the patron saint of oligarchy: Ben Bernanke. From NBC:

The super-rich club has become less exclusive, with the amount of billionaires doubling since the financial crisis, according to a report from global charity Oxfam. There were 1,645 billionaires globally as of March 2014, according to Forbes data cited in the Oxfam report, up from 793 in March 2009.

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