Wednesday, May 12, 2021

“It’s only going to get worse.”

 The rich are now nearly 40% richer than before the coronavirus crisis. Meanwhile, food prices rise, and more and more people go hungry.

Food prices are climbing globally, driving millions into hunger

In Nigeria, food inflation rose to 22.95% in March

In Indonesia, tofu is now 30% more expensive than it was last year. 

In Lebanon, where nearly half the population lives in poverty, food is about five times as expensive as it was in 2019. 

In Russia, food prices rose 7.7% over the last year

In the UK, the pandemic has increased food insecurity; as many as 10% of people now use food banks.

 In 2012, Goldman Sachs made about $400m (£251m) from food speculation; around the same time, tens of millions of people were pushed into poverty because of food prices. 

 Billionaires collectively gained $1.1tn in 2020. Yet large numbers of the world don’t know how they are going to put food on the table while the don’t seem to know what to do with all their cash.  Jeff Bezos is reported to be buying a $500m superyacht

While food prices continue to rocket billionaires are building rockets.

Bank balances or food banks?

No comments: