COVID had widened the gap between world's richest and poorest

[milewilda]

The entire tourism industry has been affected by the pandemic. International air travel and land travel have been markedly reduced. Travel agencies suffered significant losses and many stopped their work during this time. Today's crisis will kill many food manufacturers and especially food manufacturers. So covid it was not the scariest adventure in our life, unfortunately.

Yes, all sectors are affected by the pandemic and it is unavoidable,
both the state and business actors will experience a decrease in turnover and even losses,
but we must also be grateful that the pandemic is gradually recovering

But the tourism industry has taken the worst hit, and still not recovered back to before the pandemic. The tourism industry is where most of the low class make their money in developing countries. The case of Sri Lanka is the best example of this. Laos is also soon to become the next victim. The tourism industry helps to bring in foreign money which increases their foreign reserve. Low foreign reserve, you can't buy the most commodities and pay back foreign debts to borrow more. This could even turn the country into default (Sri Lanka) and hurt people from the low class further

Does the current covid situation becoming even more worst?

Seeing its parabolic pattern which it seems that we are on the end of this phase unless if there would be new variant.  

Edit: It does really have that shit new variant once again.
https://www.cnbc.com/2022/07/02/omicrons-bapoint5-variant-might-threaten-your-july-4-how-to-stay-safe.html

Dont know if these things are already real or not and they just keep on popping out like mushrooms.

[sovie]

Does the current covid situation becoming even more worst?

Seeing its parabolic pattern which it seems that we are on the end of this phase unless if there would be new variant.  

Edit: It does really have that shit new variant once again.
https://www.cnbc.com/2022/07/02/omicrons-bapoint5-variant-might-threaten-your-july-4-how-to-stay-safe.html

Dont know if these things are already real or not and they just keep on popping out like mushrooms.

Things are coming back to life again and we have seen the worst kind of inflation in the history.
Although the COVID is dying - but China is not yet taking the international flights and still closing their borders. I have seen a chineses struggling hard to get back to his home.

[Mometaskers]

snip.

I think the one industry where pretty much most were affected equally were cruising tours. They had to dismantle the cruise ships, unlike the airline industry. They'd be having a harder time recovering.

The entire tourism industry has been affected by the pandemic. International air travel and land travel have been markedly reduced. Travel agencies suffered significant losses and many stopped their work during this time. Today's crisis will kill many food manufacturers and especially food manufacturers. So covid it was not the scariest adventure in our life, unfortunately.

And this collapse of the tourism industry and the effect on food production is partly responsible for Sri Lanka's dramatic freefall. Only time will tell if other countries would follow this path.

[virasisog]

snip.

I think the one industry where pretty much most were affected equally was cruising tours. They had to dismantle the cruise ships, unlike the airline industry. They'd be having a harder time recovering.

The entire tourism industry has been affected by the pandemic. International air travel and land travel have been markedly reduced. Travel agencies suffered significant losses and many stopped their work during this time. Today's crisis will kill many food manufacturers and especially food manufacturers. So covid it was not the scariest adventure in our life, unfortunately.

And this collapse of the tourism industry and the effect on food production is partly responsible for Sri Lanka's dramatic freefall. Only time will tell if other countries would follow this path.

The collapse of the tourism industry in our country has added to the unemployment rate since lots of crews and airline employees have lost their jobs. It will take time for each country to recover because tourism has a huge impact on the economic situation of each country. It's a good thing that most countries went back to normal and are operating again. I hope that the covid situation will continue to get better.

[2stout]

It has and even the charts and reports show how the rich got significantly richer and the poors' situation didn't change or in quite a few cases got worse.  Furthering the gap even more now is inflation.

[Jemzx00]

It has and even the charts and reports show how the rich got significantly richer and the poors' situation didn't change or in quite a few cases got worse.  Furthering the gap even more now is inflation.

It's not really shocking to hear knowing that the most who got affected during COVID season are those who in the lower class or poor people. It's already hard for them to get a job much more losing one. Companies may have lost some of their businesses and profits but their employees lost jobs. Also, people who are rich has much more option to earn such as investments, connection, businesses and many more. However, Poor people mostly rely on their salary on their jobs to get by their day which has been taken away by the pandemic.

[RealMalatesta]

The entire tourism industry has been affected by the pandemic. International air travel and land travel have been markedly reduced. Travel agencies suffered significant losses and many stopped their work during this time. Today's crisis will kill many food manufacturers and especially food manufacturers. So covid it was not the scariest adventure in our life, unfortunately.

And this collapse of the tourism industry and the effect on food production is partly responsible for Sri Lanka's dramatic freefall. Only time will tell if other countries would follow this path.

All cruise ships all around the world is getting a bit of a trouble. I mean you can't just expect the world to get back to where it was suddenly. It's going to be harder for slow income places. Cruise ones have like a few cruise each year, mainly in one special season (summer) and then they make that money back, but they spend so much and gain so much all together.

When you cancel even one of that, you are going to be in big big trouble and finding money again to try to do it again is harder. Some tried it 3-4 times and failed because of pandemic period, which means that we are not going to end up seeing them recover easily, or maybe not even recover.

[bitgov]

All cruise ships all around the world is getting a bit of a trouble. I mean you can't just expect the world to get back to where it was suddenly. It's going to be harder for slow income places. Cruise ones have like a few cruise each year, mainly in one special season (summer) and then they make that money back, but they spend so much and gain so much all together.

When you cancel even one of that, you are going to be in big big trouble and finding money again to try to do it again is harder. Some tried it 3-4 times and failed because of pandemic period, which means that we are not going to end up seeing them recover easily, or maybe not even recover.

Covid has brought everyone on the same page - now almost everyone is worried about the fuel price be it rich or the poor
Everyone is on the same lines. In our country - believe it or not interest rate is 33% the highest in the history

[Vaskiy]

It has and even the charts and reports show how the rich got significantly richer and the poors' situation didn't change or in quite a few cases got worse.  Furthering the gap even more now is inflation.

It's not really shocking to hear knowing that the most who got affected during COVID season are those who in the lower class or poor people. It's already hard for them to get a job much more losing one. Companies may have lost some of their businesses and profits but their employees lost jobs. Also, people who are rich has much more option to earn such as investments, connection, businesses and many more. However, Poor people mostly rely on their salary on their jobs to get by their day which has been taken away by the pandemic.

During the lockdown the rich invested on tech industries that kept them engaged on online business availability for people who haven't used online services earlier. This brought good return on the investment in the short time period. During the same time period the poor people lost their jobs and were facing the hard days of life. Now only slowly getting recovered. This is how the rich and poor gap got widened. With time this will come back to normal.

[trendcoin]

Governments -in the current health crisis- have implemented monetary expansion policies to reduce the effects of the pandemic and stimulate the markets. Sometimes they did this by increasing their money emission, sometimes they did this by giving the money in their safes to people in need. But in both cases they expanded the money supply in the market. In this case, inflation was inevitable... In an inflationary environment, people who own commodities with limited supply become more wealthy. Because of this, Their purchasing power increases and the gap between them and the poor deepens.

[Synchronice]

And still, you guys believe that all the "mandatory" things were done in order to protect society from "infection" that's not even dangerous.
In capitalism, this pandemic made the rich richer and the poor - poorer. Those who had money opened the covid test laboratories, bought and sold face masks, and gained a lot of money! Poor and middle-class people just got weakened because of restrictions, with no possibility to move and work. Who set the restrictions? Rich people! Politicians aren't poor, they are rich and they have access to the budget of your country, their pockets are always filling, doesn't matter what happens.

[bitgov]

During the lockdown the rich invested on tech industries that kept them engaged on online business availability for people who haven't used online services earlier. This brought good return on the investment in the short time period. During the same time period the poor people lost their jobs and were facing the hard days of life. Now only slowly getting recovered. This is how the rich and poor gap got widened. With time this will come back to normal.

You are very right - rich people invested while the poor people struggled.
Many rich people invested in patrol and became more rich and people like us are always worried and keep an eye on the fuel gauge. What a life we live. 

[dunfida]

During the lockdown the rich invested on tech industries that kept them engaged on online business availability for people who haven't used online services earlier. This brought good return on the investment in the short time period. During the same time period the poor people lost their jobs and were facing the hard days of life. Now only slowly getting recovered. This is how the rich and poor gap got widened. With time this will come back to normal.

You are very right - rich people invested while the poor people struggled.
Many rich people invested in patrol and became more rich and people like us are always worried and keep an eye on the fuel gauge. What a life we live.  

Inequality is something that cant really be solved out and we are indeed living on a cruel world where rich becomes even more richer and poor becomes even more poorer.Why? Rich could easily take up some chances
whenever they do see opportunities on which poor people cant.In result? they are the ones who do make out money even more.This isnt only talking on covid situation even on just to those normal days.

Therefore, as an individual then it would really be just normal for us to mind our own business and our lives and try your best to free yourself from poverty or into the challenges of this life.
No matter what situation happens, the only ones who could help you is only yourself. 

[bitgov]

Therefore, as an individual then it would really be just normal for us to mind our own business and our lives and try your best to free yourself from poverty or into the challenges of this life.
No matter what situation happens, the only ones who could help you is only yourself.  

that is correct ... at the end you are your true friend.
No One can help yourself but you. In every walk of life - be it personal or professional.COVID has taught us many valuable lesson the most important of all is
Health is biggest wealth.
Jobs are temporary and a call away.
Family is your biggest support system

[virasisog]

Therefore, as an individual then it would really be just normal for us to mind our own business and our lives and try your best to free yourself from poverty or into the challenges of this life.
No matter what situation happens, the only ones who could help you is only yourself.  

that is correct ... in the end, you are your true friend.
No One can help yourself but you. In every walk of life - be it personal or professional.COVID has taught us many valuable lessons the most important of all is
Health is the biggest wealth.
Jobs are temporary and a call away.
Family is your biggest support system

We should put our focus on how to build ourselves so we could survive not just the pandemic but all the crises that might come in the future. We might not be as rich as others but at least we could sustain our family during times of difficulties just like the pandemic. We should take the pandemic as a lesson that we should always be financially and emotionally prepared for the possible problems ahead of us. Rich people take advantage of every situation so they take more money so we should also find ways how to live a sustainable life.

[minime0105]

It has and even the charts and reports show how the rich got significantly richer and the poors' situation didn't change or in quite a few cases got worse.  Furthering the gap even more now is inflation.

What is making rich people to get richer and the thing that is causing more people to continue getting poorer is ability of thinking and planning. Once who strategize yourself from inflation nothing will make you to be poor any longer because everything is being free from your own way of planning of yourself and your own way of getting free from people so therefore the richers will keep on getting rich because of their plans so inflation does not affect anybody because of it way of strategies

[Republikcoin.com]

What is making rich people to get richer and the thing that is causing more people to continue getting poorer is ability of thinking and planning. Once who strategize yourself from inflation nothing will make you to be poor any longer because everything is being free from your own way of planning of yourself and your own way of getting free from people so therefore the richers will keep on getting rich because of their plans so inflation does not affect anybody because of it way of strategies

I admit that everyone's way of thinking is different and everyone must have careful planning and a good strategy to deal with inflation on his own.
Here are some ways to deal with inflation in yourself that may still be used by everyone;

• 1. Reduce expenses
• 2. Diligently save valuable assets
• 3. Make an investment
• 4. Wisely in Budget Use and Consumption of Domestic Products
• 5. Doing Business Using Technology

I read that on the harmony.co.id site with a local language version so that it can be easier for me to understand it and I think those are some tips that can be applied to myself when there is inflation.

[kapalmabur]

It has and even the charts and reports show how the rich got significantly richer and the poors' situation didn't change or in quite a few cases got worse.  Furthering the gap even more now is inflation.

What is making rich people to get richer and the thing that is causing more people to continue getting poorer is ability of thinking and planning. Once who strategize yourself from inflation nothing will make you to be poor any longer because everything is being free from your own way of planning of yourself and your own way of getting free from people so therefore the richers will keep on getting rich because of their plans so inflation does not affect anybody because of it way of strategies

Actually it does not guarantee that the rich have a good plan and it should be tested when conditions are not good,
rich people who can manage their finances well I don't think they will fall into poverty

[Fortify]

During the first two years of the coronavirus pandemic, a new billionaire was minted every 30 hours, according to a new report by Oxfam International. The report, called “Profiting from Pain”, highlights how the pandemic rapidly widened the gap between the world’s richest and poorest - with 573 of the world’s richest people becoming billionaires during that time.

Meanwhile, the pandemic has created new pharmaceutical billionaires, profiting from the monopolies their companies hold over vaccines, treatments, tests, and personal protective equipment, the report said. “As billionaires gather in Davos, Switzerland, in person for the first time in over two years, they have a lot to celebrate. During the COVID-19 pandemic their mountain of wealth has reached unprecedented and dizzying heights. The pandemic – full of sorrow and disruption for most of humanity – has been one of the best times in recorded history for the billionaire class,” read the report.

Something that people living paycheck to paycheck might sometimes overlook is how the is inevitable if a billionaire has been able to withdraw their money by selling parts of their business off. They take the proceeds from the sale of their original company and from that point it is extremely difficult for them ever to lose that wealth again with just one simple step. If they put that money into purchasing shares of index funds, which diversify them across thousands of companies around the world, and receive the profits from those companies every 3 to 6 months - it supplies a substantial and even growing income to them year after year. Any spare capacity can go to buying more of those shares. Most people have a similar arrangement on a much smaller scale with pension funds, but will be lucky to earn a tiny fraction of what they do.

[Hamphser]

During the first two years of the coronavirus pandemic, a new billionaire was minted every 30 hours, according to a new report by Oxfam International. The report, called “Profiting from Pain”, highlights how the pandemic rapidly widened the gap between the world’s richest and poorest - with 573 of the world’s richest people becoming billionaires during that time.

Meanwhile, the pandemic has created new pharmaceutical billionaires, profiting from the monopolies their companies hold over vaccines, treatments, tests, and personal protective equipment, the report said. “As billionaires gather in Davos, Switzerland, in person for the first time in over two years, they have a lot to celebrate. During the COVID-19 pandemic their mountain of wealth has reached unprecedented and dizzying heights. The pandemic – full of sorrow and disruption for most of humanity – has been one of the best times in recorded history for the billionaire class,” read the report.

Something that people living paycheck to paycheck might sometimes overlook is how the is inevitable if a billionaire has been able to withdraw their money by selling parts of their business off. They take the proceeds from the sale of their original company and from that point it is extremely difficult for them ever to lose that wealth again with just one simple step. If they put that money into purchasing shares of index funds, which diversify them across thousands of companies around the world, and receive the profits from those companies every 3 to 6 months - it supplies a substantial and even growing income to them year after year. Any spare capacity can go to buying more of those shares. Most people have a similar arrangement on a much smaller scale with pension funds, but will be lucky to earn a tiny fraction of what they do.

Well thats the main difference and the reality when it comes to this manner on where those people who do have more funds or simply those millionaires or billionaires would always be having the advantage compared

to those who do have less but doesnt mean that we cant really able to do it on much lower scale but as expected where outcome and results would be entirely different.

This is why people should really be finding ways on how to diversify out their investment or finding more income for them to sustain even though not as big
with those big time people but at least we do able to earn which do make out at least some easing up the situation in terms of financial state.