“Behind every great fortune lies a great crime” ... French novelist Honoré de Balzac
No one disputes the fact that the global pandemic threw us all under the bus. Some of us got sick. Some of us lost loved ones. Others lost jobs. Others reaped the benefits. At Inequality.org, journalist Chuck Collins recently shared some statistics concerning the ever-increasing disparity between billionaires and average folks. In a nutshell, the rich not only got richer – they got a lot richer.
Pandemic profiteers like Musk and Bezos made out like bandits and the figures are jaw-dropping. At the start of the pandemic, Tesla CEO Elon Musk was worth about $25 billion dollars; two years into the pandemic his wealth had surged to $255 billion. When last checked – March 18, 2024 – Musk is at $188.5 billion. That’s more than a seven-fold increase in four years.
At the same time, Amazon founder Jeff Bezos’ wealth has soared from $113 billion to 192.8 billion – even after donating tens of billions to charity and paying out tens of billions more in a divorce settlement with his now ex-wife, MacKenzie Scott.
Speaking of Ms. Scott, she’s the only billionaire on the 2020 top 15 wealthiest Americans list to see a decline in her wealth decline from a net worth of $36 billion in 2020 to $35.4 billion due to her generous giving to charity. At least someone has their values in check.
In 2022 the U. S. Bureau of Labor Statistics summed up one study of COVID’s impact on those of us who were just trying to keep our heads above the water line:
The pandemic disrupted lower-paid, service-sector employment
most, disadvantaging women and lower income groups at least
temporarily, and this may have scarring effects...Higher-paid
workers tend to gain more from continuing opportunities to
telework. Less-advantaged students suffered greater educational
setbacks from school closures. School and daycare closures
disrupted the work of many parents, particularly mothers. We
conclude that the pandemic is likely to widen income inequality
over the long run, because the lasting changes in work patterns,
consumer demand, and production will benefit higher income
groups and erode opportunities for some less advantaged groups.
The U. S. Bureau of Labor Statistics got it right. Income inequality grew like cancer cells in the course of the pandemic. Collins’ data tells us that in March 2020 the U. S. harbored 614 billionaires worth $2.947 trillion. In March 2024 the number of billionaires had grown to 737 billionaires worth $5.529 trillion.
If not always illegal, this vast increase in billionaires' wealth has deadly consequences.
In 2022 Oxfam International published Inequality Kills, a report detailing how inequality “is contributing to the death of at least 21,000 people each day, or one person every four seconds. This is a conservative finding based on deaths globally from lack of access to healthcare, gender-based violence, hunger, and climate breakdown.”
Oxfam’s International Executive Director Gabriela Bucher made it quite clear just what led to that perilous state of affairs:
Central banks pumped trillions of dollars into financial markets
to save the economy, yet much of that has ended up lining the
pockets of billionaires riding a stock market boom. Vaccines
were meant to end this pandemic, yet rich governments allowed
pharma billionaires and monopolies to cut off the supply to
billions of people. The result is that every kind of inequality
imaginable risks rising. The predictability of it is sickening.
Fixing – or at least ameliorating – inequality is no easy task. The recommendations of the Peterson Institute for International Economics include: governments need to address inequality directly and specifically; taxes and spending programs must be progressive and benefit others than the wealthy; novel approaches must replace tired, by-the-book policy.
Whatever remedies one favors to deal with the obscene inequality of wealth here and elsewhere, the time to act is now. As Oxfam’s Bucher says: “The consequences of it kill.”
10 Best Songs About Trust and Distrust
The universal struggle to build trusting relationships is best reflected in music.
After love, trust is next on the list of music's most sung-about topics. Trust plays a crucial role in all types of relationships.
Here are 10 of the most memorable songs about trust (or a lack thereof).
1. "Trust in Me" by Etta James
Etta James' 1937 classic "Trust in Me" is about more than merely having faith in your partner, it's a plea for trust. James captures the strife of a relationship in which one partner appears to be more trustful and invested.
2. "The Times They Are A Changin'" by Bob Dylan
Between the Civil Rights Movement and the Vietnam War, the '60s were clearly a time of social unrest and mistrust. Bob Dylan's song is a call for change and an affirmation that change is possible.
3. "A Matter of Trust" by Billy Joel
Once you get past the butterflies, there's the challenge of keeping the relationship alive. Billy Joel tells us what it takes to make a relationship last: Trust in each other.
4. "That’s What Friends Are For" by Dionne Warwick
"That's What Friends Are For" was out three years before Dionne Warwick recorded this version featuring Gladys Knight, Elton John, and Stevie Wonder. Their version became a smash hit: a worthy success of four friends singing about dependable companionship.
5. "Let Me Leave" by Marc Broussard
Sometimes trusting someone is a bad idea, especially when they haven't given you one good reason to. If you're lucky enough to get a heads-up like Marc Broussard's "Let Me Leave," then you'd better take it.
6. "Lean On" by Major Lazer & DJ Snake Ft. MO
Named the 2015 song of the year, with more than 1 billion streams on Spotify, "Lean On" is a mashup of EDM and indie vocals from music collective Major Lazer, DJ Snake and Swedish singer MO. Arguably the song of the summer, "Lean On" makes the point that all we need is someone to lean on.
7. "Fortress" by Coleman Hell
Toronto-based artist Coleman Hell's "Fortress" features the same folktronica and EDM elements as his other EP. With its catchy, upbeat sound, it's easy to forget the song is about how hard it is to get someone to trust you enough to let you in.
8. "Take Care" by Drake ft. Rihanna
Whenever trust is broken, there's always someone else there to pick up the pieces. Drake's 2012 hit "Take Care" explores the aftermath of trying to take care of someone whose heart has been broken. The song approaches trust from all angles: giving it, gaining it, and losing it.
9. "Trust Nobody" by D4
Backstabbing, faking, lying—there's a point where the only person you can trust is yourself. D4, the New Zealand rock band from the late '90s, figures that getting what you need could be a one-man effort.
10. "Trust" by Justin Bieber
Talk about a redemption tour. Justin Bieber's entire album Purpose is centered around the pop star's journey to redemption and regaining the trust he lost. "Trust" is about a couple renewing lost trust, but it really could be about any relationship.