This Covid Pandemic Has Had Some Winners And Some Losers

[Hymie]

$3.7tn – Decrease in earnings of world’s workers during 2020 due to coronavirus crisis, according to research by the International Labour Organisation

$3.9tn – Increase in wealth of world’s billionaires during first ten months of coronavirus crisis, according to research by Oxfam

(from the same page in Private Eye as my last post)

[Zacs-Master]

Meaningless unless you can say how much the world’s billionaires wealth would have increased in normal times. It’s actually good that some businesses are thriving. The worst scenario is one where all businesses start to fail. But I guess you’re understanding of the world economy doesn’t stretch that far.

[Hymie]

Of course, I’m in the group of losers – as are most ABers

[Zacs-Master]

That’s a glass half empty approach. Their wealth creation is a sign of flourishing businesses and generally large numbers of people still being employed. If you have any sort of pension, you need some sector of industry to perform otherwise they’ll become worthless.

[jno]

not really meaningless, ZM: the point of the statistics is how neatly they balance. The rich are, literally, getting richer as the poor get poorer.

My guess would be that the process is not unusual but the amount of money is.

We can see why right here. Mr Tesco is allowed to stay open while Mr Debenham has to close down (for good, as it happens), but Mr Tesco has to pay tax while Mr Amazon does not. (I'm obviously putting this in the very broadest terms.)

[Zacs-Master]

Any other Private Eye stories you’d like to use to shoot your self in the foot with?

[Zacs-Master]

Mr Debenhams was the architect of his own downfall. Why have they gone under whereas ASOS and other on line retailers are thriving? I’ll tell you, because they failed to adapt early enough.

[Zacs-Master]

We all need food short term, we don’t need new clothes (other than to purchase to satisfy our retail therapy needs).

[bobbinwales]

How do they show its due to virus.

[Zacs-Master]

With some it will be obvious, bobbin. This explains:
https://www.justbusiness.com/reports/businesses-thriving-during-the-pandemic

[royfromaus]

jno
not really meaningless, ZM: the point of the statistics is how neatly they balance. The rich are, literally, getting richer as the poor get poorer.
________________________
Who in Britain are the poor who are getting poorer?
Even in my lifetime I have witnessed how the poor have a much better standard of life as they once did.

[bobbinwales]

Thanks. Get that Zacs but how do they match it to each billionaire when there are no accounts for 2020 yet, must just be estimates. Am sure they could come up with any figures they want

[royfromaus]

Hymie
Of course, I’m in the group of losers – as are most ABers
__________________________

Are they?
Most ABers appear to be pensioners...how have they lost financially?
My kids grandparent have taken to giving my kids random wads of cash because they don't know what to do with it.

[bobbinwales]

Clearly there are winners and losers but these figures seem made up to me

[New Judge]

//Of course, I’m in the group of losers – as are most ABers//

It's only a guess but I think you'll find most AB-ers are not.

People with money tend to look after it and accumulate more. People without it tend to spend what they have and wait for some more to come in. It was always thus and always will be so. You could draw in all the money in the world and distribute it equally among the population. Within a week a large number of the population will be broke, a good number will be comfortably off and remain so, and a very few will have accumulated far more than they can ever need to spend. Way of the world and not worth losing any sleep over.

[Paigntonian]

Ridiculous statistic, if can call it that. No conditional causation.

[Paigntonian]

During the Covid crisis my cacti have failed to bloom. At the same time three Italian politicians have named blue as their least favorite colour.

[emmie]

im better off now i have got to pension age, my working life wasn't half fraught, and led to many problems, now i don't need to do that anymore, thank goodness.

[Prudie]

Well better people than me have already said it but I'm sure the vast majority of ABers are the same if not better off financially during the pandemic. Why would they be?

[Prudie]

^ rather 'wouldn't'

[bednobs]

agreed - i think the majority of ABers are on benefits and have not seen a drop in their income, but have seen a drop in their spending