'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
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