70% of the UK’s working population “chronically broke”

Economic insecurity has become the “new normal” in the UK with at least 70% of the UK’s working population “chronically broke”, according to a study by the thinktank the Royal Society of Arts.

Thriving, striving or just about surviving, the RSA/Populus survey of more than 2,000 workers, found that while about 30% of respondents said they lived comfortably, 40% said their finances were permanently precarious. The remaining 30% said they were not managing to get by. Continue reading

£280bn Global Arms Sales in 2016

Global sales of weapons and military services have risen for the first time in five years, helped in part by an increase in sales by British companies.

Weapons – many of which are fuelling deadly conflicts in the Middle East – are now being bought and sold at the highest level since 2010, with sales up more than a third (38 per cent) since 2002.

Military kit worth $374.8bn (£280bn) was sold in 2016 by the industry’s top 100 companies, an annual review by the Stockholm International Peace Research Institute (Sipri) found.

The findings came as UK firm BAE Systems signed a $6.7bn deal with Qatar to buy 24 Typhoon fighter jets.

British arms sales rose 2 per cent last year and now amount to almost 10 per cent of global sales, researchers found.

Germany’s arms sales jumped 6.6 per cent while South Korean companies notched up 20 per cent more sales than a year earlier. …

Sales by Lockheed Martin – the world’s largest arms producer – rose by 10.7 per cent in 2016, the report found, linked to the sale of F-35 combat aircraft. Continue reading

Destruction Of Black Wealth During The Obama Presidency

Between 2007 and 2016, the average wealth of the bottom 99% decreased by $4,500. This decline was particularly
concentrated among the housing wealth of AfricanAmericans. Outside of home equity, black wealth recovered its 2007 level by 2016. But average black home equity was still $16,700 less. Meanwhile, over the same period, the average wealth of the top 1% increased by $4.9 million. Much of this decline in wealth, we argue, was the direct result of policies enacted by President Obama. His housing policies, particularly regarding foreclosures, were a disastrous failure that led to millions of families losing their homes, with black families suffering especially harsh losses. What’s more, Obama had power—money, legislative tools, and legal leverage—that could have very sharply ameliorated the foreclosure crisis, if not largely prevented it. He chose not to use them.

In the following essay, we shall examine the circumstances that led to the housing bubble, and its eventual collapse in Part I. In Part II, we shall take a close statistical look at the decline in black housing wealth. And in Part III, we shall outline an approach that would have halted the foreclosure crisis, had President Obama chosen to pursue it.

http://peoplespolicyproject.org/wp-content/uploads/2017/12/Foreclosed.pdf

The Forbes 400 have more wealth than the GDP of the UK

In the United States, the 400 richest individuals now own more wealth than the bottom 64 percent of the population and the three richest own more wealth than the bottom 50 percent, while pervasive poverty means one in five households have zero or negative net worth.

Those are just several of the striking findings of Billionaire Bonanza 2017, a new report (pdf) published Wednesday by the Institute for Policy Studies (IPS) that explores in detail the speed with which the U.S. is becoming “a hereditary aristocracy of wealth and power.” …

“The wealthiest 25 individuals in the United States today own $1 trillion in combined assets,” the report notes. “These 25, a group equivalent to the active roster of a major league baseball team, hold more wealth than the bottom 56 percent of the U.S. population combined, 178 million people.”
Continue reading

Interactive Map: European weapons and Refugees

Valuable resource from Centre Delàs:

Interactive map « European weapons and refugees »

The purpose of this interactive map is to highlight the link between European arms export and flows of refugees and internally displaced persons, in order to determine whether there is any direct or indirect responsibility of EU Member States for situations of insecurity and violence that drive millions of people to flee their homes every year.

A second objective of this tool is to stress their (ir)responsibility in European arms export authorization or realization as well as their inadequate compliance of the existing legislation, established by the Common Position 2008/944/CFSP of December 8, 2008, which sets up 22 weapons categories including ammunition, light weapons, aircraft and warships, military transport vehicles and all types of military technology for military purposes. On the basis of the criteria set out in the Common Position, the relationship between the European legislation on arms export and situations of insecurity leading to movements of refugees and displaced persons can be established.

http://www.centredelas.org/en/database/arms-trade/interactive-map-arms-trade-and-refugees