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Billionaires made $3.9 trillion during the pandemic, while workers lost $3.7 trillion

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5 US dollar banknotes

Five US dollar banknotes. Photo: geralt (Pixabay).


The economic impact of Covid-19 on regular folk across the globe is as devastating as the physical toll it has taken, but we can’t just blame the super rich(er) for our woes – the true villains are much closer to home.

In a simple comparison, two headlines seem to say it all about the economic impact of the Covid-19 crisis: the first, from Business Insider, reads “Billionaires made $3.9 trillion during the pandemic” while the second, from The Guardian, shouts “Covid-19 has cost global workers $3.7 trillion in lost earnings.”

A classic case of robbing Peter to pay Paul, it would appear at first glance but of course, the world doesn’t work that way and the two ideas behind the headlines are not directly related, no matter what your bicycle-riding, woolly-sweater wearing, craft-beer-quaffing socialist pals might say.

Full story: rt.com

RT


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