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US billionaires have become $565 billion richer during the pandemic

first_imgExperts say,  wealth inequality  is likely to get even worse because of this crisis.The acceleration of wealth for the richest Americans is being driven by the remarkable recovery of the stock market, which has skyrocketed in large part because of unprecedented action from the Federal Reserve. For most Americans, these past few months have been financially difficult, however, billionaires have become richer since March 18, according to a report published Thursday by the Institute for Policy Studies, a progressive think tank.While 43 million Americans were filing for unemployment, making the rate of unemployment rise to its highest since the Great Depression, the total wealth for billionaires was also rising.Billionaire wealth now stands at $3.5 trillion, up 19% from the low point near the beginning of the pandemic, the report said. Amazon boss Jeff Bezos alone is worth $36.2 billion more than he was on March 18. Billionaires get richer, and lower-income workers, especially in travel and service-sector jobs, got hit the hardest by the pandemic .last_img read more

Jeter and the Tigers outrun the Greyhounds

first_imgBeaver Falls (24-2) blew out Monessen (23-3), 46-27, to win the Class AA championship Saturday night at Palumbo Center.The victory did not come as easily as the final score would suggest. Beaver Falls struggled throughout the first half with foul trouble.Beaver Falls’ 6-foot-8 senior center Shelden Jeter, a Division I prospect, received two quick fouls in the first quarter and coach Doug Biega sat him on the bench. With Jeter on the bench, the referees’ allowed Monessen to camp out in the paint like a group from Occupy Pittsburgh.Monessen was able to keep the game close and was only down by 2 points at halftime, 20-18.In the second half the Greyhounds’ GPS System went down and they couldn’t find their route to the basket.Coach Biega rarely has his team play zone defense, but with his squad in foul trouble, he scraped the man-to-man defense and the zone caught Monessen by surprise.The Tigers held to Greyhounds to only 9 points in the second half and Jeter scored 19 points and ripped down 11 rebounds and Beaver Falls cruised to victory.“Half of the mission is accomplished,” said Jeter. “We have another half to finish. We want to win a PIAA championship.” JALEN MADISON, left, of Monessen and JOE WYNN of Beaver Falls battle for a loose ball in the WPIAL Class AA championship game. (Courier Photos/William McBride) last_img read more