Last updated October 6, 2020
About nine months after word of a new, scary and highly contagious disease began buzzing across social media, the president of the United States was hospitalized with coronavirus and a quarter-million American deaths are on the horizon. Also, there’s an election right around the corner. With COVID-19 now glued to the ballot for both parties, it would be an understatement to say that a lot is at stake on Nov. 3. Here are the numbers on the economic fallout from the virus’ wrath.
Wealth of America’s Billionaires: $637 Billion Increase
About nine months after word of a new, scary and highly contagious disease began buzzing across social media, the president of the United States was hospitalized with coronavirus and a quarter-million American deaths are on the horizon. Also, there’s an election right around the corner. With COVID-19 now glued to the ballot for both parties, it would be an understatement to say that a lot is at stake on Nov. 3. Here are the numbers on the economic fallout from the virus’ wrath.
It seems that for America’s three-comma club, the economy is always good. According to Business Insider, the TARP program gave 90% of federal relief dollars to banks and corporations and just 10% to homeowners during the Great Recession a dozen years ago. That same pattern emerged again during the COVID-19 crisis, only this time, big, publicly-traded corporations were allowed to gobble up hundreds of millions of dollars in funds meant to keep small businesses afloat. Also like the Great Recession, when the stock market bounced back, the rich were flush with cash to take advantage of the rebound while 40 million Americans were out of work and 40% didn’t have enough cash to cover a $400 emergency.
Sad. Bezos has a reason to be so smug. Why doesn't he do more people? Why doesn't he do what's right? Why doesn't he do ANYTHING but become more wealthy? I don't understand people and greed. What a weird focus. What a weird way to spend your life. Your money doesn't love you. It's so selfish. It's one of those things I simply can't wrap my head around. Would I be the same way, if I had a substantial amount of money? Or is there something psychologically wrong with them?
ReplyDeleteuptonking - I guess we'll never know.
ReplyDeleteWhat can we do as an individual? I feel so powerless against all this corruption.
ReplyDeleteHow much is enough? For these guys, no amount is enough.
ReplyDeleteThough, Bezos is spending a lot on environmental issues, and he spends on the WAPO to help defeat the Dumpster and his gang, so I have a tendency to cut him a little slack. Very little, but some.
Luke - I hear ya! Could be why I'm so full of anxiety lately.
ReplyDeletewhkattk - He could give away half of what he's worth and still have enough to squeak by.