The top 1% of households own 43% of global wealth, 10% owns 81%, while the bottom 50% have just 1%

The top 1% of households globally own 43% of all personal wealth while the bottom 50% have only 1%. The 1% are all millionaires in net wealth (after debt) and there are 52m of them. Within this 1%, there are 175,000 ultra-wealthy people with over $50m in net wealth – that’s a miniscule number of people (less than 0.1%) owning 25% of the world’s wealth!

The top 1% of households own 43% of global wealth, 10% owns 81%, while the bottom 50% have just 1%

Biden’s foreign policy: the return of American exceptionalism

Biden’s foreign policy: the return of American exceptionalism

Karim Sadjadpour, a foreign policy expert at the Carnegie Endowment for International Peace, said: “Tony and Jake still believe in the idea of American exceptionalism.”

However, Mr Sadjadpour, who knows both Mr Blinken and Mr Sullivan, said they would instinctually veer away from military adventurism in favour of diplomacy and de-escalation. He added they shared Mr Biden’s belief that America “must lead by the power of its example not only the example of its power”.

Martin Indyk, a former US ambassador now at the Council on Foreign Relations, said the duo had learned to be “very wary of regime change” and would steer away from overthrowing governments.

I’ll believe it, when I see it!

Times Editorial Lets Slip Joe Biden’s Latin America Policy: More Obama-Style Coups

Times Editorial Lets Slip Joe Biden’s Latin America Policy: More Obama-Style Coups

What the authors are referring to is a continent-wide campaign to unseat progressive leaders that ended in the jailing of Brazilian president Lula da Silva, the impeachment of his successor Dilma Rousseff, and the rise of the far-right authoritarian Jair Bolsonaro. The so-called Operation Car Wash (“Lava Jato” in Portuguese) was ostensibly an attempt to root out corruption at all levels of society. Yet leaked documents and recordings have shown that, from the beginning, it was a naked powerplay attempt by Brazil’s rich elite to retake control of society from the progressive Workers’ Party administrations through legal means.

NYT: Biden’s Plans for Latin America: End ‘Bully Dictating Policy’

Mr. Biden’s advisers say they would seek to revive the anti-corruption campaign that set off political earthquakes across the Americas starting in 2014, but largely stalled in recent years.

Related:

How the United States killed Brazil’s Democracy. Again.

The rise of the traditionalists: how a mystical doctrine is reshaping the right

The rise of the traditionalists: how a mystical doctrine is reshaping the right

It is hard to envision any broad political implementation of traditionalism, for its radicalism puts it at odds with most mainstream ideologies – not just liberalism, but nationalism too. In its original form, traditionalism regards the nation-state as a product of modernity – a more confined space for the eradication of hierarchy and the imposition of homogeneity. The nationalism advocated by traditionalists such as Dugin and Bannon is thus a sort of intermediary stage between hierarchical society and the levelling of the world through international communism or democracy.

Perhaps then, for Bannon, Olavo and in particular Dugin, nationalism is a two-way street rather than an end in itself. Their calls for the strengthening of borders and even for more egalitarian orders within them (Dugin frequently advocates “social justice”, while Bannon, in theory, supports progressive tax policies) may be initial steps in an effort to reverse time. First, establish a horizontal difference by destroying internationalism and crafting a world of islands. Then, reinstate vertical difference with a theocratic hierarchy by sacralising the otherwise modernist and secular institution of the nation-state. For the influential acolytes of traditionalism, nationalism would thus be merely the opening salvo of a crusade to re-segment and re-mystify the world.

Cheaper Than Remdesivir: Russia to Supply Anti-COVID Avifavir to 17 Countries

Avifavir, the world’s first favipiravir-based drug to be approved for the treatment of COVID-19, will now be delivered to Saudi Arabia, Brazil, Bulgaria, Serbia, Argentina, Chile, Colombia, Ecuador, El Salvador, Honduras, Kuwait, Panama, Paraguay, Slovakia, South Africa, the UAE and Uruguay.

Cheaper Than Remdesivir: Russia to Supply Anti-COVID Avifavir to 17 Countries