Tag: poverty

Virus Could Push 150 Million People Into Extreme Poverty

The World Bank suggested upwards of 150 million people could be pushed into “extreme poverty” due to the virus pandemic, erasing nearly three years of progress in global poverty reductions. 

According to the report, for the first time in two decades, the virus pandemic, compounded by the effects of climate change, are slowing poverty reduction progress, resulting in an additional 88 million to 115 million people falling into extreme poverty this year, with total estimates of 150 million in 2021, depending on the economic recovery shape. 

The biennial Poverty and Shared Prosperity Report defines “extreme poverty” as living on less than $1.90 per day, which is likely to affect between 9.1%-9.4% of the world’s population this year. With the world’s poverty rate expected to rise this year, it would mean extreme poverty is at 2017’s 9.2% level, marking the first rise in the poverty rate in two decades. The rate was expected to drop to 7.5% by 2021 before the coronavirus pandemic.

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As World Plunges Into Poverty, Super Rich Top Unprecedented $10 Trillion Net Worth Thanks to COVID-19

Make no mistake, the government’s reaction to COVID-19 — shutting down business, forcing people to state home, all the while granting monopolies to massive chains like Amazon, Walmart, etc. — has decimated the middle class and pushed the already-struggling poor that much deeper into despair. But you won’t see the owners of those monopolies complaining as they have seen their wealth soar to unprecedented highs.

As the rest of the country struggles to pay their mortgages, has their businesses shut down, and descends into poverty, COVID-19 for the super rich has been a record setting windfall. Four of the most controversial billionaires on the planet, have seen their wealth increase by over a combined $100 billion in just the last 10 months.

Since the COVID-19 lockdowns began, Jeff Bezzos has seen his net worth shoot up by nearly $70 billion. Bill Gates, who has been embroiled in controversy and has somehow become the mainstream media’s go-to “expert” on COVID-19, has seen his net worth increase by nearly $10 billion. As his platform censors any information that challenges the establishment’s narrative on COVID-19, Mark Zuckerberg’s net worth increased by $20 billion. And, as his platform also censors information like Facebook, Larry page has seen his profits from Google add $5 billion to his net worth.

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San Francisco mayor announces city will pay some pregnant women $1,000 a month — but only if they’re black or Pacific Islander

The mayor of San Francisco wants to help pregnant women with the financial burden of having and caring for an infant — but only certain pregnant women.

White, Asian, and Hispanic expectant mothers need not concern themselves with applying for help from the city’s new program: It’s only for black and Pacific Islander women.

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