>“Without immediate radical action, we could be witnessing the most profound collapse of humanity into extreme poverty and suffering in memory,” said Oxfam International executive director Gabriela Bucher. “This terrifying prospect is made more sickening by the fact that trillions of dollars have been captured by a tiny group of powerful men who have no interest in interrupting this trajectory.”<p>Someone else being a trillionaire doesn't imply or even logically follow that someone else must be in poverty. Economics is not net-zero sum game. For someone to become a trillionaire they in fact worked with countless others and enriched them as well.<p>>The brief notes that a wave of governments is nearing a debt default and being forced to slash public spending to pay creditors and import food and fuel.<p>Which is going to happen it seems. <a href="https://tradingeconomics.com/country-list/government-debt-to-gdp" rel="nofollow">https://tradingeconomics.com/country-list/government-debt-to...</a><p>Venezuela, Japan, Sudan, Greece, Lebanon, Cape Verde, Libya... you don't want to be living there for either obvious reasons or upcoming reasons.<p>>. The world’s poorest countries are due to pay $43 billion in debt repayments in 2022, which could otherwise cover the costs of their food imports. Global food prices hit an all-time high in February, surpassing the peak crisis of 2011. Oil and gas giants are reporting record-breaking profits, with similar trends expected to play out in the food and beverage sector.<p>The payment on debt will always require the answer to what could have been done otherwise with those debt payments? The proposal is simply buying food. Not a bad solution is it? Who wouldn't agree with that? The problem often with crippling debt is that you end up never escaping it. Not without lots of pain, the problem with delaying the pain is that it becomes worse.<p>>Oxfam is calling for urgent action to tackle the extreme inequality crisis threatening to undermine the progress made in tackling poverty during the last quarter of a century:<p>All of their proposals are absolutely terrible. Realistically these will do harm.<p>How about we fix the problem? Debt. How about we balance the budget? We require by constitutional requirement for our politicians to stop filling their pockets and balance the budget?<p>Problem solved: <a href="https://en.wikipedia.org/wiki/Balanced_budget_amendment" rel="nofollow">https://en.wikipedia.org/wiki/Balanced_budget_amendment</a>