Them & Us

Them and us fishes, image Suzanne Beishon (Click to enlarge)

Davos special!

Yes, it's that time of year again! The annual World Economic Forum will see the planet's billionaire bosses and political lackeys gather to hobnob at the Swiss ski resort that sounds like a Doctor Who villain. So what's the state of play in 2019?

Them

The world's 26 richest billionaires own as much as the poorest half of humanity, says Oxfam. The earlier figure of eight billionaires was revised up last year, following new data from Credit Suisse. But the preposterous concentration of wealth is still ever greater - in 2017 it was 43 billionaires; in 2016, 61. And you could now fit them all in a stretch hummer
Wall Street has posted over $100 billion in profits for the first time. The US's six biggest banks netted $111 billion in 2018, says Bloomberg - even before reporting their fourth-quarter results
But the chief execs are worried! 30% expect slower economic growth this year, six times more than in 2018, says a PwC survey
And house prices in the wealthiest areas have fallen by up to 25% in the last 12 months, caused by (the working-class revolt which was) the Leave vote, says Your Move. It couldn't happen to nicer people

Take the wealth off the 1%, photo Paul Mattsson (Click to enlarge)

Us

Meanwhile, the planet's 3.8 billion poorest actually suffered an 11% wealth reduction last year - compared to the billionaires' 12% increase, or $2.5 billion a day, says Oxfam
175,000 retail workers in Britain could lose their jobs this year if unions don't combat the closure of 23,000 shops predicted by Altus Group
Surprise, surprise. Two-fifths of ex-council homes bought under Thatcher's flagship housing policy, 'right to buy', are no longer the dwellings of owner-occupiers. They are cash-cow rentals for private landlords, according to FoI data
The Spice Girls' gender justice t-shirts are produced in a Bangladesh factory where abused and harassed women workers earn just 35p an hour. Tory-turned-Blairite Ginger Spice has a net worth of $40 million, says Time. Union organising and socialist change, not super-rich celebs, are the path to women's liberation

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Finance appeal

The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.

The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.

The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.

The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.

Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.

We therefore urgently appeal to all our viewers to click here to donate to our Fighting Fund.