Making billions v making ends meet: how the pandemic has split the US economy in two
Dominic Rushe at The Guardian:
The total wealth of US billionaires has soared $685bn since the middle of March to a combined $3.65tn. Rock-bottom interest rates have triggered a home sales boom for some as those with the money reconsider their priorities in the work-from-home era. With nowhere to go, those Americans who can are saving at record rates.
But only one in four Americans can work from home. Meanwhile roughly 30 million people are unemployed in the US, about 20% of the workforce. Almost 30 million Americans recently reported that they have not had enough to eat at some point in the previous seven days, according to the Census Bureau.