Richest 1% own more than 88% - Simon Dixon discusses on Davos Report
In this edition of The Debate, Press TV has conducted an interview with Simon Dixon, the author of "Bank to the Future", from London, and the columnist of The Hill, Brent Budowsky, from Washington, to discuss Oxfam's report on the financial inequality across the world.
Dixon believes that the current gap between the rich and the poor is the direct result of “quantitative easing” policy adopted by central banks in different parts of the world to serve the interests of large corporations and big banks.
The quantitative easing policy has actually taken tax payers’ money, government assets, and enormous forms of wealth and put them into the hands of large corporations and banks, Dixon says, adding that it provides wealthy people in the world with easy access to cheap credit.
“The system is fixed. The game is rigged. It is in favor of the big banks, in favor of Wall Street firms, in favor of the super-wealthy and against the poor and against average folks in the middle class and workers,” Brent Budowsky says.
He also appreciates the approach of the US presidential candidate Bernie Sanders towards the issue of economic inequality, adding that people in the US and Europe should force their governments, whether through elections or forming social movements such as Occupy Wall Street, to change the current financial systems voluntarily and build a just and equal economy.