Billionaires are taking over the world: How 5 richest men doubled wealth while 5 billion got poorer
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- Опубліковано 16 жов 2024
- The world's richest 1% own 43% of global financial assets, and the wealth of the top five billionaires has doubled since 2020, while 60% of humanity got poorer, according to a report by Oxfam, published to coincide with the World Economic Forum meeting of capitalist oligarchs and Western government officials in Davos, Switzerland. Ben Norton analyzes the findings.
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Thank you Ben. Independent journalists with journalistic integrity are the heroes of our time.
Percieved reality... u r here too...
I have doubts about Tesla... battery has very small peak work life... come visit me in Dresden...
You can also follow Ralph Nader radio hour... I like some of the episodes there...
Hear Hear Ben... this information should be shouted across the planet, especially to those who are in willful denial that this is even going on!!!
Here I am at almost 80 years old, a poor person in a rich country. The world is not more equal. The world is WAY LESS equal than ever, and the reason is that you cannot have a growing number of billionaires without also having a growing number of poor people. And I am, so far, a very fortunate old, poor person, because I still have fairly good health. If you are an extremely wealthy person reading this, I challenge you to do something that will make a difference in this situation in the world.
Rich ROB humanity. You can't have rich and wealthy society. If rich exist, society will be feudal always.
God bless you and I truly mean that in every sense of the word.
You are richer than you think..
Our greatest wealth in this world is our health and our families.
if you don't grow food....you helped cause this mess.
you forced slaves to support your life, and did not care to find out the truth about your comfort.
apologies for not playing the "politeness game" that colonizers insist upon.
@@donHooliganyes because everyone has the time and means and awareness to grow their own food ?? Normal people are not the problem and never will be. Blaming other normal people is what the billionaires want you to do, it's what the superstructures of bourgeois liberalism have been created to support
@@gkfntmvprtm i'm trying to break the addiction to money....which would make billionaires as poor as you and i....and make the planet healthier, day by day.
it's not the fault of every creature on the planet that we have been lazy self-obsessed gluttons all our lives.
US is 5% of the world population...and uses 1/4 of the resources used...creates more than half of the garbage! (again...5% makes over 50% of the trash!)
Correction: Elon is *NOT* the "founder" of Tesla, he bought the company.
I hate it when people say that. Eberhard and Tarpenning are the founders, not elon.
@@David-vf5rf He won a lawsuit and can now "legally" be called a founder. He's a real shitbag.
@@David-vf5rfa billionaire lying, color me shocked. . . Nooot!
Elon IS the founder of a strip club on Mars!
Actually we can say he "weaseled" his way into Tesla...
He is one of the best independent journalists of our times. He speaks truth to power.
That is economic singularity. All of the world's wealth in a few hands.
If we actually eat bugs, we don't need them anymore.
Don't worry, it's soon to trickle down...
@@Armed.and.Hammered😂
And many of them are rich enough to influence foreign government now, this is how we get unelected leaders. These clowns are bribing many foreign governments to do their bidding
Man I remember watching you in the past. I cant remember what news organization. Glad I found you again. keep working and speaking the truth. No imperialism. No Zionism. No Fascism. Imperialism and Colonialism never died, it evolved into capitalism.
Michael Hudson points out that capitalism is just another version of feudalism.
Reaganomics and Thatcherism have worked out perfectly for the wealthiest.
Corporate Totalitarianism
What eludes the average citizen is that taxation on great wealth is not a tax on the entire fortune, it is not taxation on the earning in any given year, but it is a tax on the profits after deductions. And great wealth hires lawyers that whittle the obligation to zero or even a tax refund provided to them by "owned" legislators. All the largest corporations zero-out on tax obligations.
Excellent work young man, every person on this planet should hear this. 🎉
I will never lost contact with your presentations
This isn't some aberration. This is the system working as intended. The contradictions of capitalism made manifest.
True, but "Centralization of debt the hands of the state, by means of a national bank with state capital and an exclusive monopoly" is exactly what Marx wanted and what we have now. By controlling debt, you get to pick winners and losers. Marx thought that the ruling class, being smarter than the serfs would do a better job with resource allocation.
@@sdrc92126 Marx's ten measures in the Communist Manifesto referred to measures that would be taken under proletarian rule, which we do not have. Under our current system, the U.S' dollar hegemony is used as a tool of imperialism (the final stage of capitalism as said by Lenin) via the IMF and World Bank that is basically U.S-run.
@@soul_survive Same thing. We've mostly implemented all of his 10 measures.
@@soul_surviveAnd BIS is in control, not the IMF
@@sdrc92126 As a rule of thumb, the Communist Manifesto isn't the core of Marx's works, it's basically a pamphlet detailing ideas that would be compounded upon later. I find it better to read the three volumes of Capital and Marx's Critique of the Gotha Programme. So yeah
“Western modernisation was fraught with crimes such as war, the slave trade, colonisation & plunder, which inflicted untold misery on many countries. Having long suffered from aggression, bullying & humiliation by Western powers, we Chinese are keenly aware of the value of peace & will never follow the well-worn path of the West. The biggest problem with Western modernisation is that it is capital centred rather than people centred & seeks to maximise capital gains rather than serve the interests of the vast majority of people.” Xi Jinping
Said recently as part of the BRICS expansion. Proof is in the fact that China has lifted 900 million people out of poverty in the last 40 years. Its foreign policy is built on cooperation rather than intimidation.
Thank you for this info ben!
30:19I don't agree with "fixing" the current system. It should be abolished all together.
Because abolishing old hierarchies has panned out so well in the past...
Reform is the only real tenable solution given the near incomprehensible complexity of the world. Thinking otherwise is just as blind and ideological as the neolibs telling you things can't be otherwise.
Very precise summary to give us an overview on how the economic and financial system Is deepening inequality. Thank you!!
Another excellent piece of work Ben. You are providing a brilliant service.
Thanks for bringing this out Ben ✌🏻☮️🌟
@Ben Norton, such an excellent and relevant report! Thank you very much 🙏🏽
Anybody wishing to read a great book on the subject, “Technofeudalism” by Yanis Varoufakis does an excellent job of describing the transformation of capitalism into its current state of central bank subsidised necromancy
“Western modernisation was fraught with crimes such as war, the slave trade, colonisation & plunder, which inflicted untold misery on many countries. Having long suffered from aggression, bullying & humiliation by Western powers, we Chinese are keenly aware of the value of peace & will never follow the well-worn path of the West. The biggest problem with Western modernisation is that it is capital centred rather than people centred & seeks to maximise capital gains rather than serve the interests of the vast majority of people.” Xi Jinping
Thanks, Ben. 😢
No one is going to save us.
Carl Sagan and the Pale blue dot is all we have. He knew. 😢
The vast chasm between Carl Sagan's wise observations compared to pronouncements of contemporary politicians requires an intellectual leap that is beyond most of our global "leaders". Wisdom is no longer revered. Instead, wealth and power is worshipped. To the detriment of everything.
Late stage capitalism.
When people talk about democracy or capitalism they talk about ideal situation where nobody will be dishonest or corrupt.
They ignore the inherent tendency of capitalism to produce monopoly.
Bernie was afraid of the "F" word, too.
Reference to dishonesty and corruption (human nature) is a weak critique of capitalism and democracy. A structural, systemic critique is required.
It's the libertarian fantasy conservatives have always indulged in - getting rid of all economic regulations because everyone will allegedly have good intentions and be skillful enough to manage everything without said regulations.
@@stuartwray6175 Start with my comment above.
Appreciate all you do comrade!
Ben's video are always informative, filled with facts and figures. Thank you for sharing!
Elon Musk didn't found Tesla btw but otherwise a totally awesome presentation, thanks Ben!!!
Excellent discussion Ben. 🇿🇦🍷
Excellent research and report , thank you
And half of the billionaires seem like plants from the various world governments.. given their economic positions by steady kush government deals throughout their careers.. with suspect “entrepreneurial” beginnings.
It’s ridiculous to be so greedy when they are going to die just like everyone else. They act like they are going to use that money in the next life.
The wealth is inherited by their kids. Creating capitalist dynasties like in feudal times
Read _The Age of Spiritual Machines_ by Ray Kurzweil. They believe that they will be immortal in a few years thanks to technology. I think Harari talks about this also.
@@sdrc92126 thanks, I’ll take a look at that out of curiosity. But as far as what is known today in science that technology does not exist. So for now they will still bite the dust like the rest of us.
@@sdrc92126 Very good comment. I was thinking the same thing. These arrogant fools are so deluded, they actually DO believe they will live forever.
Please read the “holy books” of a certain group which dominates western capitalism.
More wisdom from Senor Ben
Thanks for the videos vouching for the people.
Interesting topic, thanks Ben Norton. Innovation and technology is a great thing if money is distributed humanity and mankind, instead of richest getting richer and poor getting poorer
When a man became too powerful for the king to tolerate, that man was removed.
When someone is kicking you while you are down, you better get up and fight.
I'm not sure how Oxfam qualifies as an "anti-poverty organisation". It's a mainstream charity.
The content of this report makes a lot of sense though.
@@afunguynamedkawhi7959 Yes but that has zero relevance to my comment.
Oxfam does some good work but it is not an "anti poverty organisation". As all its report recommendations show, it is at best a reformist social democratic organisation in terms of its orientation: it can see ways to make capitalism fairer, but does not as an organisation seek to transcend capitalism, property relations, corporate control or state domination.
@@billkosses3808if your goal is to reduce poverty, is that not “anti-poverty”?
@@billkosses3808 Like you said, they are a charity. Oxfam is a liberal anti-poverty charity organization(meaning they think they can work within the capitalist system to reduce poverty). You may argue their effectiveness and disagree with their methods(nobody would blame you), but they are still an anti-poverty organization. However ineffective.
@@coverupper1354 Why not call it an "anti inequality and injustice organisation" then?
I assume you're just being liberal contrarian for the sake of it here, and as a watcher of the channel already understand the nature of capitalism. Which Oxfam is not against.
Thanks for making this amazing video with all the proofs Mr. Ben Norton. ❤
Great reporting Ben as always! Thank you
The answer is to abandon the ability to amass wealth
It’s hoarding. Already a mental illness.
Thank you very much for your work on these reports.
This is a lot of information, nice!
a lot of people with a lot of money ,a lot of time ,a lot of power and a lot of really stupid ideas
YES!! YES!! This is what Ive been watching happpen to my province in slow motion...
Excellent video Ben...
This is very true thank you so much ❤❤
Excellent analyses and reporting, Ben.
Their fortune gained few hundred percent while the rest suffers, you know it's a graft...I am still waiting for the pitchfork.
Thank you Ben, for exposing some of the greedy faces of the usual suspects, who are responsible for so much extreme suffering all over the world.
Great report good work thanks for sharing
Thanks for sharing and surfacing the truth. 👏👍
The world is not equal that's for sure!
goodwork
The future looks bleak for the generations to come. How depressing. Where is humanity going to? Backwards towards slavery full steam ahead. ☹
“Western modernisation was fraught with crimes such as war, the slave trade, colonisation & plunder, which inflicted untold misery on many countries. Having long suffered from aggression, bullying & humiliation by Western powers, we Chinese are keenly aware of the value of peace & will never follow the well-worn path of the West. The biggest problem with Western modernisation is that it is capital centred rather than people centred & seeks to maximise capital gains rather than serve the interests of the vast majority of people.” Xi Jinping
@@Jay...777 Agree with you 100%.
In the west we never hear the words io Chinese & Russian leaders. Both countries have websites that have English translations of what has been said. Putin has recently admitted what a fool he was believing the lies of the west - such as the Minsk agreement. One reason there will be no negotiation with the west in the Ukraine war without a comprehensive pull-back of NATO powers. I wonder if Ukraine will even exist in a years time.@@elliconstantatou3223
Well,done Ben
9:24 Musk is not the *Founder* of Tesla
Great work Ben
Freedman statement about globalization is not true. Thx for explaining this to us
Excellent commentary thanks for exposing the corruption of the system that is imprisoning humanity.
Ben you are now in the midst of a lot more of paid propagandists but no worries as whatever you delivers are informative and we are awared of your hard work. It takes a lot of time & energy to sieve through a lot to produce whatever you have to produce in all your videos, tq.
Your narration reminds me of Blackrock in their latest monetary gain in taking up the assets of Ukraine in the 'stock-market' openly sold by the current head of Ukraine!
It is them against us, make no mistake about it, and never delude yourself to think this can change. It can only be ended
"In this world...the strong take everything." - One Million B.C. (1966)...
Exactly the hard facts we need to know and not a trace of Ego. Norton is a Living treasure, just like Hudson. Another of this ilk is Sean Foo and the Syriana Report fellow who's name escapes me. Follow these men and Dima (Military Summary) and you are pretty well informed before the Ego driven pundits say a word. Huge respect sir.
✊🏽 Ben doing Great Work of spreading the Truth 🥳
Every little bit helps 🤩 Thank you 🙏🏽
Apparently there is half a quadrillion dollars of wealth in the world. Despite most people living at or below subsistence. And the planet is dying. Inequality is the factor that matters for the economy and the environment.
This is why China's model of dual emphases on both increasing the size of the cake and dividing the cake well is so compelling. China seeks the dynamism of the market, but also does not place capital at the center of the governing philosophy, but keep a human and society centered philosophy.
Twenty down votes as I type, guess DAVOS has tuned in.
Thank you Ben
Another excellent video.
Hi,
Can you PLEASE tell me how did you make your name BEN NORTON appear and disappear in the introduction of the video? What is it called when making a video? I truly would appreciate it. Thank you, sir.
Time to Seize the Means of Production!
"There's class warfare all right.But it's my class, the rich class, that's making war, and we're winning." Warren Buffett
This is the big picture.
Yanis Varoufakis explains very well this rise of inequality as a structural change to capitalism which he calls techno feudalism. Ben citing OXFAM describes the astronomical rise in the wealth of our new techno lords.
When they flattened it, they also tilted it, now things tend to roll their way!
Thank you.
Great Video
Muchas gracias Ben Norton por la pura y triste REALIDAD😔💪🏼✊🏼✌🏼(criminales🤬).
No Brasil isso é fato
"Germany lost the second world war....Fascism won." --George Carlin
Fascism was a manifestation of Imperialism. WWII reconfigured Imperialism; it didn't die.
yessir,@@stuartwray6175!
after WWII, The Reich built military bases all around the world.
A great explanation Ben. Thank you. But until there is MUCH more awareness of these things? Time, which is NOT on our side, lets billions more be spent keeping these things secret. And to crush indie media. As I watch you now, and no one else (but a few) is invited to look. To cloak the censorship. 😢
Viva la libertad carajo!!! 🇦🇷
That Bill Gates said that he has more trouble spending his fortune "well" than he had getting it.
If that is not the proof that personal income should be limited ( if you have minimum loan, why not also a maximum personal wealth?)
While I agree with the policy proposals at the end of the video, they are absolutely impossible under capitalism, especially in the US. The falling rate of profit shows that corporations need to extract profits in every way they possibly can, through usury rents, land rents, price gouging, etc, lest these companies lose money, power, and market share, and thus not be able to pay back their shareholders. Trying to get the capitalist class to regular itself, is an exercise in futility. The only answer is socialist revolution. There can be no real change under capitalism.
“Western modernisation was fraught with crimes such as war, the slave trade, colonisation & plunder, which inflicted untold misery on many countries. Having long suffered from aggression, bullying & humiliation by Western powers, we Chinese are keenly aware of the value of peace & will never follow the well-worn path of the West. The biggest problem with Western modernisation is that it is capital centred rather than people centred & seeks to maximise capital gains rather than serve the interests of the vast majority of people.” Xi Jinping
5 murderers
Thanks
Amazing research .Thorough and very informative.Thanks for sharing
Stuff that "women don't get paid equally". Women spend 80% of household income. There is a huge money transfer from men to women.
Unless women spend 80% of household income on themselves alone, then the household income has not been “transferred” to women. They are at best unpaid couriers, delivering items needed by the household from the shop to the door.
Global rates of reproduction are dropping because it's a better deal for women to earn 70-80% of what a man makes for the same job, than it is for them to avoid career development and become financially dependent on a man. As a woman, I don't want a man to turn me into a vulnerable house worker, cook, maid and child caretaker, all in exchange for no career development, no personal wealth, and no recourse for death or separation. Women the world over are tired of being house slaves, so they choose less pay for career development so a man doesn't turn them into a debtor. The way capitalists treat their employees is how men have historically treated their wives - treating their labor as a worthless contribution, and threatening eviction and destitution lest they labor for little in return. Women will keep depopulating the earth and men will keep being single and celibate until they learn that being a housewife has always been a form of labor exploitation.
Ben! I love your videos! But I have to correct you!!! Bernard is not just luxury goods- he acquired Sephora in 1997 which is interesting bc currently there’s a big fad of young girls glorifying Sephora … idk if this has contributed some to his Neo con purse
Sephora sells high end perfume & I think make-up, those are luxury goods...... and girls glorify Sephora because they sell smell good and girls love things that smell good, it's nothing sinister.
The problem the US has, and it exists in some form elsewhere too, is that billionaires don't pay their taxes. They pay their huge salaries in shares in their own company, which they are not required to pay tax on until the sell them. The way US tax law is framed, they are not required to sell those shares for ten years. So how do they live day to day, how do they afford their lifestyles? They get a very low interest loan from a bank, they can get such low interest rates because they have those shares as collateral.
The reality is, they are parasites.
Actually, Elon just provided capital after Martin Eberhard & Marc Tarpenning incorporated it.
Tesla, that is.
What about the Rothschild's family, JP Morgan, King Charles III, Monsanto, Rockefellers? 🧐
30:30 no, they should be public cuz they're HUMAN NECESSITIES.
Thanks!
People should never let anyone to get to rich and powerfull and thats go also corporates.
The largest transfer of wealth occurred during their financial pandemic.
How do they measure wealth?
Ben can you name the 5 of them ?
Respect!
We need a Mr.Robot.
is thomas friedman related to milton friedman
Nobody earns 50 billion dollars. Or 10, or 30. This much much wealth is extracted from other people.
Or printed ! !! 😮😊
Picking March 2020 as your starting point is looking for a reactionbas that was the lowest point in the market. I think you all have to understand thisbis capitalism
Tesla has no dividend and buy backs
Amazon has no dividend and buy backs
Berkshire Hathaway has no dividend and buy backs currently. LVMH is practically the same. The top 5 multi billionaires use wealth to compound more wealth. You either know how to or you dont.. but not in any criminal or shady way. And inflation actually helps the numbers move faster... make your own money and get over it
Can’t beat em? Join em.
these 5 richest people could liquidate a part of their wealth then deposit one million dollars into each and every bank account of every person on the planet. How long would it take for the money they disperse to end up back in their accounts??