‘world’s richest 1% get 82% of the wealth,’

(THIS ARTICLE IS COURTESY OF CNBC)

 

Inequality gap widens as ‘world’s richest 1% get 82% of the wealth,’ Oxfam says

  • Approximately 82 percent of the money generated last year went to the richest 1 percent of the global population, the report said, while the poorest half saw no increase at all
  • Last year, Oxfam said billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over
  • The report is timely as the global political and business elite gather in snow-clad Davos for the World Economic Forum’s annual meeting this week

Superyachts and other smaller luxury vessels sit moored in the Port de Fontvieille in Monaco, on Monday, May 18, 2015.

Andrey Rudakov | Bloomberg | Getty Images
Superyachts and other smaller luxury vessels sit moored in the Port de Fontvieille in Monaco, on Monday, May 18, 2015.

Just 42 people own the same amount of wealth as the poorest 50 percent worldwide, a new study by global charity Oxfam claimed.

In a report published Monday, Oxfam called for action to tackle the growing gap between the super-rich and the rest of the world. Approximately 82 percent of the money generated last year went to the richest 1 percent of the global population, the report said, while the poorest half saw no increase at all.

The report is timely as the global political and business elite gathers in snow-clad Davos for the World Economic Forum‘s annual meeting this week, which aims to promote responsive and responsible leadership.

‘Increasingly concentrated’

Oxfam said its figures, which some observers have criticized, showed economic rewards were “increasingly concentrated” at the top. The charity cited tax evasion, the erosion of worker’s rights, cost-cutting and businesses’ influence on policy decisions as reasons for the widening inequality gap.

The charity also found the wealth of billionaires had increased by 13 percent a year on average in the decade from 2006 to 2015. Last year, billionaires would have seen an uptick of $762 billion — enough to end extreme poverty seven times over. It also claimed nine out of 10 of the world’s 2,043 billionaires were men.

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David Ryder | Getty Images

Booming global stock markets were seen as the main driver for a surge in wealth among those holding financial assets last year. The founder of AmazonJeff Bezos, saw his wealth balloon by $6 billion in the first 10 days of 2017 — leading to a flood of headlines marking him as “the richest man of all time.”

‘Something is very wrong’

Mark Goldring, chief executive of Oxfam GB, said the statistics signal “something is very wrong with the global economy.”

“The concentration of extreme wealth at the top is not a sign of a thriving economy but a symptom of a system that is failing the millions of hard-working people on poverty wages who make our clothes and grow our food,” he added.

Oxfam has published similar reports over the past five years. At the start of 2017, Oxfam said eight billionaires from around the globe had as much money as the 3.6 billion people who make up the poorest half of the world’s population. Improved data has seen last year’s figure revised to 61, but the charity said the trend of widening inequality was still evident.

The report, “Reward Work, Not Health,” is based on data from Forbes and the annual Credit Suisse Global Wealth datebook, which has detailed the distribution of global wealth since 2000.

Check out the world leaders and celebrities that are going to Davos this year

Larry Busacca | Getty Images Entertainment | Getty Images

The survey assesses a person’s wealth based on the value of an individual’s assets — mainly property and land — minus any debts they may hold. The data excludes wages and income to determine what he or she is perceived to own. This methodology has attracted criticism in the past, as a student with high debt levels and a high future earning potential would classify as poor under the current criteria.

Nonetheless, Oxfam said even if the wealth of the poorest half of the population was recalculated to remove the people in net debt, their combined wealth would still be equal to 128 billionaires.

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US Air Force official: Missile targeting Saudis was Iranian

(THIS ARTICLE IS COURTESY OF CNBC NEWS)

 

US Air Force official: Missile targeting Saudis was Iranian

  • Iran manufactured the ballistic missile fired by Yemen’s Shiite rebels toward the Saudi capital, says the top U.S. Air Force official in the Mideast.
  • Saudi Arabia long has accused Iran of giving weapons to the Shiite rebels and their allies, though Tehran has just as long denied supplying them.
  • “There have been Iranian markings on those missiles,” Harrigian told journalists. “To me, that connects the dots to Iran.”

A still image taken from a video distributed by Yemen's pro-Houthi Al Masirah television station on November 5, 2017, shows what it says was the launch by Houthi forces of a ballistic missile aimed at Riyadh's King Khaled Airport on Saturday.

Houthi Military Media Unit | Reuters
A still image taken from a video distributed by Yemen’s pro-Houthi Al Masirah television station on November 5, 2017, shows what it says was the launch by Houthi forces of a ballistic missile aimed at Riyadh’s King Khaled Airport on Saturday.

Iran manufactured the ballistic missile fired by Yemen’s Shiite rebels toward the Saudi capital and remnants of it bore “Iranian markings,” the top U.S. Air Force official in the Mideast said Friday, backing the kingdom’s earlier allegations.

The comments by Lt. Gen. Jeffrey L. Harrigian, who oversees the Air Force’s Central Command in Qatar, further internationalizes the yearslong conflict in Yemen — the Arab world’s poorest country.

Saudi Arabia long has accused Iran of giving weapons to the Shiite rebels known as Houthis and their allies, though Tehran has just as long denied supplying them.

“There have been Iranian markings on those missiles,” Harrigian told journalists at a news conference in Dubai ahead of the Dubai Air Show. “To me, that connects the dots to Iran.”

There was no immediate reaction from Tehran.

Saudi Arabia says it shot down the missile Nov. 4 near Riyadh’s international airport, the deepest yet to reach into the kingdom. Saudi Arabia’s Foreign Ministry later said investigators examining the remains of the rocket found evidence proving “the role of Iranian regime in manufacturing them.” It did not elaborate, though it also mentioned it found similar evidence after a July 22 missile launch. French President Emmanuel Macron similarly this week described the missile as “obviously” Iranian.

Nikki Haley, the U.S. ambassador to the United Nations, said in a statement Tuesday that the July launch involved an Iranian Qiam-1, a liquid-fueled, short-range Scud missile variant. Iran used a Qiam-1 in combat for the first time in June when it targeted Islamic State group militants in Syria over twin militant attacks in Tehran.

Harrigian declined to offer any specifics on what type of missile U.S. officials believed it was, nor did he show any images of the debris. He also didn’t explain how Iran evaded the blockade by the Saudi-led coalition, which intensified after the missile targeting Riyadh.

“How they got it there is probably something that will continue to be investigated over time,” the lieutenant general said. “What has been demonstrated and shown based on the findings of that missile is that it had Iranian markings on it. That in itself provides evidence of where it came from.”

The Houthis have described using Burkan-2 or “Volcano” Scud variants in their recent attacks, including the one Nov. 4. Those finless missiles are reminiscent of the Qiam, wrote Jeremy Binnie of Jane’s Defense Weekly in a February analysis.

“The Burkan-2 is likely to heighten suspicions that Iran is helping Yemen’s rebel forces to develop their ballistic missile capabilities,” Binnie wrote.

Adding to that suspicion is the fact that Yemen’s missile forces previously never had experience in disassembling and rebuilding the weapons, said Michael Knights, a fellow at The Washington Institute For Near East Policy who previously worked in Yemen.

It is “not a stretch to believe that Tehran is supporting the Houthi missile program with technical advice and specialized components,” Knights wrote in an analysis Thursday. “After all, the Houthis have rapidly fielded three major new missile systems in less than two years while under wartime conditions and international blockade.”

The U.S. already is involved in the war in Yemen and has launched drone strikes targeting the local branch of al-Qaida, though it stopped offering targeting information under the Obama administration over concerns about civilian casualties. That prohibition continues today, though the Air Force continues to refuel warplanes in the Yemen theater and offers support in managing airspace over the country, Harrigian said. The Saudi-led coalition also uses American-made bombs and ordinance in its attacks.

Yemen long has had ballistic missiles, dating back to the 1970s when Yemen was split between the socialist South Yemen and North Yemen. After unification in 1990 and a later civil war, Yemen largely moved its ballistic missile stockpile to a mountain base in Sanaa, the capital. It also purchased more from North Korea.

When the Houthis seized Sanaa in September 2014, their allied fighters also held control of the ballistic missiles. The Yemeni military was widely believed to possess around 300 Scud missiles at the time, though exact figures remain unknown.

The Saudi-led coalition entered the war in March 2015 on the side of Yemen’s internationally recognized government. It then attacked the ballistic missile base in April 2015, touching off massive explosions that killed several dozen people. Saudi Arabia implied at the time that the Scud arsenal in Yemen had been seriously degraded, if not entirely destroyed, as a result of the airstrikes.

It soon would become clear that wasn’t the case. In June 2015, the rebels fired their first ballistic missile into Saudi Arabia near the southwestern city of Khamis Mushait. In the time since, Yemen’s rebels have fired over 70 ballistic missiles into Saudi Arabia, according to the Washington-based Center for Strategic and International Studies’ missile defense project.

For its part, Iran long has denied offering any arms to Yemen, though it has backed the Houthis and highlighted the high civilian casualties from the Saudi-led coalition’s campaign of airstrikes.

But others in Iran have been coy about the ballistic missiles in Yemen. Mehdi Taeb, an influential hard-line cleric who is a brother to the intelligence chief of the hard-line Revolutionary Guard, said in April that Iran tried three times to send missiles to Yemen. The Guard, answerable only to Supreme Leader Ayatollah Ali Khamenei, oversees Iran’s missile program.

“We did it one time via an airplane, one time via a Navy boat and one time with a ship,” Taeb said in an online video.

The cleric said ultimately the administration of Iranian President Hassan Rouhani ordered the transfers stopped over negotiations on the nuclear deal with world powers, without offering a specific time for the attempted shipments.

“They said come back because the Americans said, ‘If you send missiles to Yemen, we will end the negotiations,'” Taeb said.

STEPHEN HAWKING AI WARNING: ARTIFICIAL INTELLIGENCE COULD DESTROY CIVILIZATION

(THIS ARTICLE IS COURTESY OF NEWSWEEK)

(JUST YESTERDAY NOV. 6th, I WROTE AN ARTICLE TITLED ‘THE UNNEEDED POOR WILL BE EXTERMINATED’, THINGS I POINTED OUT IN THAT ARTICLE DO AGREE WITH WHAT MR. HAWKING IS SAYING HERE IN THIS ARTICLE TODAY, PLEASE CONSIDER READING YESTERDAYS ARTICLE ALSO, THANK YOU.)

STEPHEN HAWKING AI WARNING: ARTIFICIAL INTELLIGENCE COULD DESTROY CIVILIZATION

World-renowned physicist Stephen Hawking has warned that artificial intelligence (AI) has the potential to destroy civilization and could be the worst thing that has ever happened to humanity.

Speaking at a technology conference in Lisbon, Portugal, Hawking told attendees that mankind had to find a way to control computers, CNBC reports.

“Computers can, in theory, emulate human intelligence, and exceed it,” he said. “Success in creating effective AI, could be the biggest event in the history of our civilization. Or the worst. We just don’t know. So we cannot know if we will be infinitely helped by AI, or ignored by it and side-lined, or conceivably destroyed by it.”

stephen hawking Earth extinction colonizeStephen Hawking sits onstage during an announcement of the Breakthrough Starshot initiative with investor Yuri Milner in New York City, on April 12, 2016. Hawking, the English physicist, warns humanity needs to become a multiplanetary species to ensure its survival.REUTERS/LUCAS JACKSON

Hawking said that while AI has the potential to transform society—it could be used to eradicate poverty and disease, for example—it also comes with huge risks.

Society, he said, must be prepared for that eventuality. “AI could be the worst event in the history of our civilization. It brings dangers, like powerful autonomous weapons, or new ways for the few to oppress the many. It could bring great disruption to our economy,” he said.

This is not the first time Hawking has warned about the dangers of AI. In a recent interview with Wired, the University of Cambridge Professor said AI could one day reach a level where it outperforms humans and becomes a “new form of life.”

artificial intelligence Artificial intelligence GLAS-8/FLICKR

“I fear that AI may replace humans altogether,” he told the magazine. “If people design computer viruses, someone will design AI that improves and replicates itself. This will be a new form of life that outperforms humans.”

Even if AI does not take over the world, either by destroying or enslaving mankind, Hawking still believes human beings are doomed. Over recent years, he has become increasingly vocal about the need to leave Earth in search of a new planet.

In May, he said humans have around 100 years to leave Earth in order to survive as a species. “I strongly believe we should start seeking alternative planets for possible habitation,” he said during a speech at the Royal Society in London, U.K. “We are running out of space on Earth and we need to break through the technological limitations preventing us from living elsewhere in the universe.”

The following month at the Starmus Festival in Norway, which celebrates science and art, Hawking told his audience that the current threats to Earth are “too big and too numerous” for him to be positive about the future.

“Our physical resources are being drained at an alarming rate. We have given our planet the disastrous gift of climate change. Rising temperatures, reduction of the polar ice caps, deforestation and decimation of animal species. We can be an ignorant, unthinking lot.

“We are running out of space and the only places to go to are other worlds. It is time to explore other solar systems. Spreading out may be the only thing that saves us from ourselves. I am convinced that humans need to leave Earth.”

The U.S. Just Dropped The ‘Mother Of All Bombs’ In Afghanistan. But What Is That?

(THIS ARTICLE IS COURTESY OF TIME)

The U.S. Just Dropped the ‘Mother of All Bombs’ in Afghanistan. But What Is That?

Apr 13, 2017

The United States on Thursday dropped “the mother of all bombs,” the largest non-nuclear bomb it has ever used in combat, on an ISIS tunnel and cave complex in eastern Afghanistan.

The bomb, officially called the GBU-43/B Massive Ordnance Air Blast (MOAB), was dropped from a MC-130 aircraft in the Achin district of Nangarhar province, Pentagon spokesman Adam Stump said, according to the Associated Press. The target was near Afghanistan’s border with Pakistan.

President Donald Trump said Thursday the bombing was a “very successful mission,” according to Reuters, and he touted the mission as evidence of a stronger foreign policy under his administration. It was not immediately clear how much damage the bomb did, how many militants were killed, or whether any civilians were killed.

Here’s what you need to know:

What is the bomb?

The GBU-43 is a GPS-guided weapon that weighs an enormous 21,600 pounds, according to an article from the Eglin Air Force Base. Each one costs $16 million, according to military information website Deagel.

During testing in the early 2000s, it created a mushroom cloud that could be seen from 20 miles away, according to the Air Force story.

Why was it developed?

The MOAB was designed in 2002 as a replacement for the BLU-82 Daisy Cutter, according to the Air Force article. Its purpose was initially to put pressure on former Iraqi dictator Saddam Hussein.

“The goal is to have the pressure be so great that Saddam Hussein cooperates,” said then-Defense Secretary Donald Rumsfeld in a 2003 interview, according to the Air Force article. “Short of that — an unwillingness to cooperate — the goal is to have the capabilities of the coalition so clear and so obvious that there is an enormous disincentive for the Iraqi military to fight against the coalition.”

Has it been used before?

The bomb was sent to the Middle East in 2003, but it had never been used before this week.

How many does the U.S. have?

The U.S. military says it has 20 MOAB bombs and has spent about $314 million producing them, according to CNBC.

What kind of destruction does it cause?

While not all details from Thursday’s blast have been made public, the bomb is very powerful. “What it does is basically suck out all of the oxygen and lights the air on fire,” Bill Roggio, of the Foundation for Defense of Democracies, told Air Force Times. “It’s a way to get into areas where conventional bombs can’t reach.”

While it was initially intended to deter U.S. opponents, this week’s strike marks a change to using the weapon as an active tool in fighting ISIS. The use of the MOAB in the Nangarhar province indicates the U.S. still considers ISIS a threat in the area.

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