Saturday, January 18, 2020

Bad times are a-comin

The head of the International Monetary Fund, Kristalina Georgieva, said the inequality gap had increased within countries.

She singled out the UK for particular criticism, saying “In the UK, for example, the top 10% now control nearly as much wealth as the bottom 50%. This situation is mirrored across much of the OECD, where income and wealth inequality have reached, or are near, record highs.”

She added: “In some ways, this troubling trend is reminiscent of the early part of the 20th century – when the twin forces of technology and integration led to the first gilded age, the roaring 20s, and, ultimately, financial disaster.

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