News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
A secretive group met behind closed doors in New York this week. What they decided may lead to higher drug prices for you and hundreds of millions around the world. Representatives from the United States and 11 other Pacific Rim countries convened to decide the future of their trade relations in the so-called Trans-Pacific Partnership (T.P.P.). Powerful companies appear to have been given influence over the proceedings, even as full access is withheld from many government officials from the partnership countries. Among the topics negotiators have considered are some of the most contentious T.P.P. provisions — those relating to intellectual property rights. These rules could help big pharmaceutical companies maintain or increase their monopoly profits on brand-name drugs [and] block cheaper generic drugs from the market. Big Pharma’s profits would rise, at the expense of the health of patients and the budgets of consumers and governments. Of course, pharmaceutical companies claim they need to charge high prices to fund their research and development. This just isn’t so. For one thing, drug companies spend more on marketing and advertising than on new ideas. Overly restrictive intellectual property rights actually slow new discoveries. As it is, most of the important innovations come out of our universities and research centers, like the National Institutes of Health, funded by government and foundations.
Note: Read what a former editor-in-chief of the New England Journal of Health has to say about the egregious profiteering of Big Pharma. Watch an excellent, two-minute video by former U.S. Secretary of Labor Robert Reich on the TPP titled "The Worst Trade Deal You've Never Heard of," or read leaked draft texts of the Trans-Pacific Partnership for yourself.
The trade rules of the proposed Trans-Pacific Partnership ... would cover nearly 40 percent of the world economy. Access to the text of the proposed deal is highly restricted. At last month’s World Economic Forum in Switzerland, U.S. Trade Representative Michael Froman defended the ... refusal to release the full text of the proposed trade pact. “It is incomprehensible to me that leaders of major corporate interests who stand to gain enormous financial benefits from this agreement are actively involved in the writing of the TPP, while at the same time, the elected officials of this country, representing the American people, have little or no knowledge of what’s in it,” wrote Sen. Bernie Sanders, independent-Vt., in a letter to Froman last month. Congressional lawmakers are permitted to view the text of the agreement only in the U.S. trade representative’s office, without their own staff members or experts present. They are not allowed to take copies of the agreement back to Capitol Hill for deeper, independent evaluation. Despite those restrictions, specific details of the agreement’s text have surfaced from unauthorized leaks. One of the leaks showed the U.S. proposing to empower corporations to attempt to overturn domestic regulations, while ... another leaked provision would help the pharmaceutical industry inflate the price of medicines.
Note: For more, watch an excellent, two-minute video by former U.S. Secretary of Labor Robert Reich on the TPP titled "The Worst Trade Deal You've Never Heard of," or read leaked draft texts of the Trans-Pacific Partnership for yourself.
What President Obama called for in his State of the Union: completion and adoption of the Trans-Pacific Partnership free-trade agreement, or TPP, for the Asia-Pacific region. The president [and other TPP supporters] make two major arguments. One is that the trade pact would create lots of new jobs and raise American incomes and living standards. The other is that it would strengthen U.S. alliances in Asia while curbing Chinese influence. Over the last 35 years, the U.S. has ... concluded many free-trade agreements. In advance of each, U.S. leaders promised the deals would create high-paying jobs, reduce the trade deficit, increase GDP and raise living standards. None of these [promises] came true. In fact, the U.S. non-oil trade deficit continued to grow, millions of jobs were offshored and mean household income has hardly risen since 2000. And economists overwhelmingly agree that rising U.S. income inequality is being driven in part by international trade. The ever-closer linking of the U.S. economy to those of the TPP countries over the last 35 years has not ... deterred U.S. trade partners and allies from developing ever closer ties with China. The TPP is not going to bring together nations such as Mexico, Peru, Chile, New Zealand, Australia, Singapore, Malaysia and Brunei to gang up against China. That is just not going to happen. Thus the TPP fails on both economic and political grounds.
Note: Read an excellent Washington Post article showing how the claim of 65,000 jobs created with the TPP is a blatant lie and manipulation. Then watch an excellent, two-minute video by former U.S. Secretary of Labor Robert Reich on the TPP titled "The Worst Trade Deal You've Never Heard of," or read leaked draft texts of the Trans-Pacific Partnership for yourself.
Felicio de Costa ... arrives at the front door and holds his hand against it to gain entry. Inside he does the same thing to get into the office space he rents [at Epicenter, a new hi-tech office development in Sweden]. He can also wave his hand to operate the photocopier. That's all because he has a tiny RFID (radio-frequency identification) chip, about the size of a grain of rice, implanted in his hand. On the day of the building's official opening, the developer's chief executive was, himself, chipped live on stage. The whole process is being organised by a Swedish bio-hacking group. While some of the people around the building were looking forward to being chipped, others were distinctly dubious. An older woman ... saw little point in being chipped just to get through a door. But [Epicenter official] Hannes Sjoblad says he and the Swedish Biohacking Group have another objective - preparing us all for the day when others want to chip us. "We want to be able to understand this technology before big corporates and big government come to us and say everyone should get chipped - the tax authority chip, the Google or Facebook chip." Then, he says, we'll all be able to question the way the technology is implemented from a position of much greater knowledge.
Margaret Thatcher was adamant officials should not publicly name Sir Peter Hayman, a senior diplomat connected to a paedophile scandal, even after she had been fully briefed on his activities. The file [of formerly secret papers], compiled between October 1980 and March 1981, is made up of memos and background notes put together for Thatcher, then prime minister. In a three-page document from 17 March 1981 ... officials explain why Hayman was not prosecuted when, three years previously, police discovered he was a member of the Paedophile Information Exchange group. The memo ends: “It is the policy of the law officers that persons who have been investigated by the police but not prosecuted should not be named in the House [of Commons]”. Thatcher amends this paragraph to cross out “in the House”, indicating that she did not believe Hayman should be named anywhere. Thatcher’s insistence on not naming Hayman appeared always unlikely to succeed. [Peter Hayman] had come to the attention of police in 1978 when ... Police raided his flat in west London and found 14 years’ of journal entries detailing his fantasies, many involving children. The director of public prosecutions decided that Hayman and his co-correspondents should not be charged. The magazine Private Eye ran a story detailing what had happened and naming him. The file shows that prior to the Private Eye article, in October 1980, Thatcher and her officials had no idea that police had even investigated Hayman.
Note: Watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government. For more along these lines, see concise summaries of deeply revealing sex abuse scandal news articles from reliable major media sources.
First came the allegations late last year that Britain's Prince Andrew and a prominent American lawyer took part in a wealthy sex offender's abuse of teenage girls. Defense attorney Alan Dershowitz ... represented the highly connected Jeffrey Epstein and was himself named in the latest court filings. Jane Doe No. 3 and three others who say Epstein victimized them want a federal judge to ... throw out the part of Epstein's plea deal that guaranteed that neither he nor any co-conspirators would [remain anonymous or] face federal charges. They contend their rights as victims were trampled by the then-secret agreement. Now a 31-year-old wife and mother, Jane Doe No. 3 insists her motives are to hold the elite accountable, [and to] "help expose the problem of sex trafficking." She first met Epstein in 1999 ... at age 15. What followed was a three-year whirlwind of paid sex abuse, international travel and encounters with many of Epstein's powerful friends. "I was trained to be everything a man wanted me to be," she said in her affidavit. "They said they loved that I was very compliant and knew how to keep my mouth shut." Although she was paid for her services and was given luxurious accommodations by Epstein, Jane Doe No. 3 said, it was also clear she could get into "big trouble" if she tried to leave or refuse his sexual advances and requirements to provide sex to others. "He let me know that he knew many people in high places," she said. "Speaking about himself, he said, 'I can get away' with things. I was very scared, particularly since I was a teenager."
Note: Jane Doe #3 has not kept her identity secret, and continues use her real name in court to expose the FBI cover up of this elite sex trafficking ring, but one of her attorneys requested that the AP not use her name in the above article. For more, watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government, or read deeply revealing sex abuse scandal news articles from reliable major media sources.
A still-classified section of the investigation by congressional intelligence committees into the Sept. 11, 2001, attacks has taken on an almost mythic quality over the past 13 years. Now new claims by Zacarias Moussaoui, a convicted former member of Al Qaeda, that he had high-level contact with officials of the Saudi government in the prelude to Sept. 11 have brought renewed attention to the inquiry’s withheld findings. Representative Stephen F. Lynch, Democrat of Massachusetts [has authored] a bipartisan resolution encouraging President Obama to declassify the section. Mr. Lynch and his allies have been joined by former Senator Bob Graham of Florida, who as chairman of the Senate Intelligence Committee was a leader of the inquiry. He has called for the release of the report’s [28 page] Part 4, which dealt with Saudi Arabia, since President George W. Bush ordered it classified when the rest of the report was released in December 2002. Mr. Graham has repeatedly said it shows that Saudi Arabia was complicit in the Sept. 11 attacks. “The 28 pages primarily relate to who financed 9/11, and they point a very strong finger at Saudi Arabia as being the principal financier,” Mr. Graham said last month as he pressed for the pages to be made public. Proponents of releasing Part 4, titled “Finding, Discussion and Narrative Regarding Certain National Security Matters,” have suggested that the Bush and Obama administrations have held it back for fear of alienating an influential military and economic partner rather than for any national security consideration.
Note: Several prominent current and former US politicians are working to expose the Saudi government money behind terrorism by declassifying this material. Moussaoui's new claims suggest that they are on the right track. For more along these lines, read concise summaries of deeply revealing 9/11 investigation news from reliable major media sources.
Dean Baquet, the executive editor of the New York Times, believes his newspaper – in company with the US mainstream media – failed their audiences after 9/11. He told the German news magazine Der Spiegel that he agreed with the criticism originally made by an NYT reporter, James Risen, Baquet said: “The mainstream press was not aggressive enough after 9/11, was not aggressive enough in asking questions about a decision to go to war in Iraq, was not aggressive enough in asking the hard questions about the war on terror. I accept that for the Los Angeles Times and the New York Times”. Baquet, in charge of the NYT since May 2014, was previously editor-in-chief of the LA Times. In his wide-ranging interview with Der Spiegel, Baquet also spoke about the NSA whistleblower Edward Snowden having chosen to tell his story to the Guardian. He said he regards the Guardian as “a new competitor [for the NYT] in the digital age.” He said: “Does it make me nervous that they compete with us and in fact beat us on the Snowden story? Yes. "It hurt a lot. It meant two things. Morally, it meant that somebody with a big story to tell didn’t think we were the place to go, and that’s painful. And then it also meant that we got beaten on what was arguably the biggest national security story in many, many years.
Note: When asked about the New York Times' refusal to report on military drone base locations in the interview referenced above, Baquet recalls, "A high-ranking CIA official called me up and made the case to leave out where the drone base was. It was Saudi Arabia. I accepted it. And I was wrong." For more along these lines, see these concise summaries of deeply revealing articles about mass media manipulation.
The middle class can't be saved unless Wall Street is tamed. Yet most presidential aspirants don't want to talk about taming the Street because Wall Street is one of their largest sources of campaign money. Six years ago ... the financial collapse crippled the middle class and poor, consuming the savings of millions of average Americans and causing 23 million to lose their jobs, 9.3 million to lose their health insurance and some 1 million to lose their homes. A repeat performance is not unlikely. Wall Street's biggest banks are much larger now than they were then. Five of them hold about 45 percent of America's banking assets. In 2000, they held 25 percent. Meanwhile, the Street's lobbyists have gotten Congress to repeal a provision of Dodd-Frank curbing excessive speculation by the big banks. The language was drafted by Citigroup and personally pushed by Jamie Dimon, CEO of JPMorgan Chase. It's nice that presidential aspirants are talking about rebuilding America's middle class. But to be credible, the candidates have to [propose] to limit the size of the biggest Wall Street banks, to resurrect the Glass-Steagall Act (which used to separate investment banking from commercial banking), to define insider trading the way most other countries do (using information any reasonable person would know is unavailable to most investors), and to close the revolving door between the Street and the U.S. Treasury. It also means not depending on the Street to finance their campaigns.
As many as 31 pesticides with a value running into billions of pounds could have been banned because of potential health risks, if a blocked EU paper on hormone-mimicking chemicals had been acted upon. The science paper, seen by the Guardian, recommends ways of identifying and categorising the endocrine-disrupting chemicals (EDCs) that scientists link to a rise in foetal abnormalities, genital mutations, infertility, and adverse health effects ranging from cancer to IQ loss. Commission sources say that the paper was buried by top EU officials under pressure from big chemical firms which use EDCs in toiletries, plastics and cosmetics, despite an annual health cost that studies peg at hundreds of millions of euros. The unpublished EU paper ... was supposed to have enabled EU bans of hazardous substances to take place last year. Under pressure from major chemical industry players, such as Bayer and BASF, the criteria were blocked. In their place, less stringent options emerged. Last month, 11 MEPs complained in a cross-party letter to the health and food safety commissioner, Vytenis Andriukaitis, about the EU’s failure to honour its mandate and adopt the EDC criteria. This was supposed to have happened by the end of 2013. In place of the proposed identification of hormone-mimicking compounds, the EU’s current roadmap favours industry-supported options for potency-based measurements of EDCs. These would set thresholds, below which exposure to low-potency EDCs would be deemed safe.
Note: One key study estimates that as few as zero endocrine-disrupting pesticides will be withdrawn from the EU market as a result of this profit-driven manipulation of policy. For more along these lines, see concise summaries of deeply revealing articles about corporate and government corruption from reliable major media sources.
Two Ohio men wrongly accused of murder experienced freedom for the first time in nearly four decades on Friday morning, but said they don’t harbor bitterness over their unjust imprisonment. A Cleveland judge on Wednesday had dropped all charges against Ricky Jackson, 57, and Wiley Bridgeman, 60, allowing for the pair’s release. Jackson was 19 when he was convicted along with Bridgeman and Bridgeman’s brother, Ronnie, in the 1975 shooting death and robbery of Harold Franks, a Cleveland-area money order salesman. Testimony from a 12-year-old witness helped point to Jackson as the triggerman and led a jury to convict. The witness, Edward Vernon, now 53, recanted his testimony last year, saying he was coerced by detectives, according to Cuyahoga County court documents. Vernon wrote in a 2013 affidavit that he never saw the murder take place, but he was told by detectives that if he didn’t testify against Jackson, his parents would be arrested. The Ohio Innocence Project, which took up the case, said Jackson had been the longest-held U.S. prisoner to be exonerated. Jackson was originally sentenced to death, but that sentence was vacated because of a paperwork error. The Bridgeman brothers remained on death row until Ohio declared the death penalty unconstitutional in 1978. “One of them came within 20 days of execution before Ohio ruled the death penalty unconstitutional” said Mark Godsey, director of the Ohio Innocence Project.
Note: Watch an inspiring five-minute video of this beautiful man who was originally sentenced to death based largely on the testimony of a 12 year old, who it turns out was coerced by police to blame him. And how many have been wrongly executed that we will never know about? For more along these lines, see concise summaries of deeply revealing civil liberties articles from reliable major media sources.
Terror suspects held by the CIA were interrogated on the British owned island of Diego Garcia despite the repeated denials of London and Washington that any such incidents took place, a senior American official said today. Lawrence Wilkerson, who was the chief aide to former US Secretary of State Colin Powell, said the remote UK-administered military base in the Indian Ocean was used as a back-up location for “nefarious activities”, such as the questioning of prisoners in the wake of the 9/11 attacks. In an interview with the Vice News website, Mr Wilkerson said that Diego Garcia did not host a permanent CIA prison but was used as a back-up location to conduct interrogations. Mr Wilkerson, 70, who served as chief of staff to Mr Powell throughout the Iraq war, said he had not learnt of the CIA’s alleged use of Diego Garcia until after he stepped down in 2005. He said that on the basis of his own experience while serving on the island in the 1980s and information from his sources, he believed it to be unlikely that any interrogations could have happened without the knowledge of British liaison staff who are in command of the base. The former Prime Minister Tony Blair and Foreign Secretary Jack Straw have previously denied any use of the coral atoll for rendition. It was reported last year by Al Jazeera that the Senate Intelligence Committee report, which provided an account of torture by the CIA, would confirm Diego Garcia was used for rendition “with the full co-operation of the UK”. When the document was published the locations of black sites had been redacted.
Note: Diego Garcia has been known to be a center for the CIA's nefarious activities for years. This newspaper article shows how the torture was sometimes done on military "prison ships" near the island to keep it hidden from the people there.
Sometimes people laugh when Zac Bookman tells them what his company, OpenGov does. Not out of mockery. Out of disbelief that a website — or, really, anything — can make it easier to track how the government spends trillions of dollars of their tax money. Users [of OpenGov] can easily share what they find with friends — or push back on government officials to question their spending. Still, Bookman hears doubters. Cynicism runs deep, especially when it involves government becoming more transparent. Bookman ... understands their skepticism. People have lost faith in government officials to improve their lives. “People don’t think of (government) as an industry, but it is,” said Bookman, whom Ronnie Lott nominated for the first Chronicle and St. Mary’s College Visionary of the Year award. “Our software allows you to see where the money goes.” $7 trillion in public dollars ... flows through federal, state and local government entities, from big cities to mosquito abatement districts. Much of it is hidden in plain sight, virtually inaccessible to the public because of user-unfriendly tech interfaces. But now more than 250 government organizations are using [OpenGov], including the city of Los Angeles. There is a bipartisan appeal to this sort of transparency. Conservatives like it because it helps to highlight where to cut government fat, while liberals buy into it because this sort of tool can quantify the value of government services. OpenGov is attempting to ... make this very complex data usable by people who are not financial experts.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Thousands of Croats will see their debts written-off on Monday as part of an attempt to boost the economy by helping households to regain access to basic facilities including bank accounts. The scheme, which has been dubbed "fresh start", will see the debts of around 60,000 citizens erased by banks, telecoms and utilities operators as part of a deal with the government. Around 2.1bn kuna (Ł20m) worth of bad debts are expected to be written off by creditors who have signed up to the scheme. None will be refunded for their losses. Qualifying households must have debts lower than 35,000 kuna (Ł3,500), and their monthly income should not be higher than 1,250 kuna. Croats who own property or have any savings will not benefit from the deal. "Some 60,000 citizens ... will be given a chance for a new start without a burden of debt," said Milanka Opacic, Croatia's deputy prime minister. The program will give 20pc of the 317,000 Croatians whose accounts were frozen in July last year due to bad debts access to their accounts again. "This is the first time that any (Croatian) government tries to solve this difficult problem and we are proud of it," Prime Minister Zoran Milanovic told a cabinet session. The deal will be noted in Greece, where the new Syriza government is trying to renegotiate the terms of its multi billion euro bail-out.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The Vatican will offer homeless people in Rome not only showers but also haircuts and shaves when new facilities open next month, the head of Pope Francis' charity office said. The Vatican announced last year that it would provide shower facilities in St Peter's Square for homeless people. Bishop Konrad Krajewski told the Italian Catholic newspaper Avvenire on Thursday that it would also offer haircuts and shaves when the services start on Feb. 16 in an area under the colonnade of the square. Krajewski, whose official title is the pope's almoner, said barbers and hairdressers would volunteer their services on Mondays, the day their shops are traditionally closed in Italy. They had already donated chairs, hair-cutting instruments, and mirrors, the newspaper's website said. Krajewski came up with the idea of building showers in St. Peter's Square last year after a homeless person told him that while it was relatively easy to find places to eat at Rome charities, it was difficult to find places to wash. He immediately received the pope's backing for the shower project and then expanded it to include haircuts and shaves.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
In the United States, there is one state, and only one state, where every single resident and business receives electricity from a community-owned institution rather than a for-profit corporation. Nebraska ... has embraced the complete socialization of energy distribution. The Nebraska Power Association proudly proclaims, “Our electric prices do not include a profit. That means Nebraska’s utilities can focus exclusively on keeping electric rates low and customer service high. Our customers, not big investors in New York and Chicago, own Nebraska’s utilities.” Nebraska has a long history of publicly owned power systems. However, in the post-World War I era, large corporate electric holding companies backed by Wall Street banks entered the market and began taking over. Tired of abusive corporate practices, in 1930 residents and advocates of publicly owned utilities took a revenue bond financing proposal straight to the voters, bypassing the corporate-influenced legislature which had previously failed to pass similar legislation. It was approved overwhelmingly. By 1949, Nebraska had solidified its status as the first and only all-public power state. Nebraska’s nearly 100-year-old experience with a completely public and community-owned electricity system demonstrates that ... the principles of subsidiarity and local control can, in fact, be preserved through a networked mix of publicly owned institutions at various scales without sacrificing efficiency or service quality.
At least 50 U.S. law enforcement agencies have secretly equipped their officers with radar devices that allow them to effectively peer through the walls of houses to see whether anyone is inside. Those agencies, including the FBI and the U.S. Marshals Service, began deploying the radar systems more than two years ago with little notice to the courts and no public disclosure of when or how they would be used. The technology raises legal and privacy issues because the U.S. Supreme Court has said officers generally cannot use high-tech sensors to tell them about the inside of a person's house without first obtaining a search warrant. The radars work like finely tuned motion detectors, using radio waves to zero in on movements as slight as human breathing from a distance of more than 50 feet. They can detect whether anyone is inside of a house, where they are and whether they are moving. The device the Marshals Service and others are using [was] first designed for use in Iraq and Afghanistan. They represent the latest example of battlefield technology finding its way home to civilian policing and bringing complex legal questions with it. Those concerns are especially thorny when it comes to technology that lets the police determine what's happening inside someone's home.
Note: This technology is not new. Working as interpreter in Washington, DC, WantToKnow.info founder Fred Burks witnessed this technology being used by the police there in the late 1980s. For more along these lines, see this deeply revealing summarized NPR report about The Pentagon's massive Program 1033 to widely distribute military hardware to domestic police forces.
Libyan government papers pieced together by [a] team of London lawyers show [that] Tony Blair wrote to Colonel Muammar Gaddafi to thank him for the “excellent cooperation” between the two countries’ counter-terrorism agencies. The letter, written in 2007, followed a period in which the dictator’s intelligence officers were permitted to operate in the UK, approaching and intimidating Libyan refugees. Addressed “Dear Mu’ammar” and signed “Best wishes yours ever, Tony”, the letter was among hundreds of pages of documents recovered from Libyan government offices following the 2011 revolution. Six Libyan men, the widow of a seventh, and five British citizens of Libyan and Somali origin are bringing claims against the British government on the basis of the recovered documents, alleging false imprisonment, blackmail, misfeasance in public office and conspiracy to assault. The recovered documents show that MI5 and MI6 submitted more than 1,600 questions to be put to two opposition leaders after they had been kidnapped with British assistance and flown to one of Gaddafi’s prisons. Both men say they suffered appalling torture. On Thursday an attempt by government lawyers to have the case struck out without admitting liability failed when the high court ruled the allegations “are of real potential public concern” and should be heard and dealt with by the courts.
Note: British intelligence agencies have been trying to silence the lawyers filing this lawsuit, and got caught illegally spying on them. For more along these lines, see concise summaries of deeply revealing news articles about corruption in intelligence agencies and government.
The political network overseen by the conservative billionaires Charles G. and David H. Koch plans to spend close to $900 million on the 2016 campaign, an unparalleled effort by coordinated outside groups to shape a presidential election that is already on track to be the most expensive in history. The spending goal ... would allow their political organization to operate at the same financial scale as the Democratic and Republican Parties. It would require a significant financial commitment from the Kochs and roughly 300 other donors they have recruited ... to influence legislation and campaigns across the country, leveraging Republican control of Congress and the party’s dominance of state capitols to push for deregulation, tax cuts and smaller government. The [increased budget] reflects the rising ambition and expanded reach of the Koch operation. In 2012, the Kochs’ network spent just under $400 million, an astonishing sum at the time. The $889 million spending goal for 2016 would put it on track to spend nearly as much as the campaigns of each party’s presidential nominee. The Kochs are longtime opponents of campaign disclosure laws. Their network is constructed chiefly of nonprofit groups that are not required to reveal donors.
Note: For more along these lines, see concise summaries of deeply revealing elections news articles from reliable major media sources.
The billionaires and corporate oligarchs meeting in Davos this week are getting worried about inequality. The architects of the crisis-ridden international economic order are starting to see the dangers ... of the widest global economic gulf in human history. The scale of the crisis has been laid out for them by the charity Oxfam. On current trends, the richest 1% will have pocketed more than the other 99% put together next year. The 0.1% have been doing even better, quadrupling their share of US income since the 1980s. In most of the world, labour’s share of national income has fallen continuously and wages have stagnated under this regime of privatisation, deregulation and low taxes on the rich. At the same time finance has sucked wealth from the public realm into the hands of a small minority, even as it has laid waste the rest of the economy. Now the evidence has piled up that not only is such appropriation of wealth a moral and social outrage, but it is fuelling social and climate conflict, wars, mass migration and political corruption, stunting health and life chances, increasing poverty, and widening gender and ethnic divides. Escalating inequality has also been a crucial factor in the economic crisis of the past seven years, squeezing demand and fuelling the credit boom. The thinking person’s Davos oligarch realises that allowing things to carry on as they are is dangerous. What they won’t accept is any change in the balance of social power.
Note: Oxfam's complete report "identifies the two powerful driving forces that have led to the rapid rise in inequality" as "market fundamentalism and the capture of politics by elites." For more along these lines, see concise summaries of deeply revealing news articles on income inequality and secret societies which manipulate global politics.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.