DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Millionaires shrug off the downturn; Richer than before financial crisis

**Hujkmlopes** · 06-23-2011, 12:23 AM

Poor rich folks, they need more stimulus, otherwise they won't put that spiraling pile of wealth into any tip jars for the working class. We need to shut down parks, schools, health programs and unemployment checks immediately so we can cut their taxes so they don't lose any sleep over whether they'll be able to give summer homes to each of their kids and grandkids.

Financial Times: http://www.ft.com/cms/s/0/94859e42-9...#axzz1Q3OL9Oah

Millionaires across the world are now richer than they were before the financial crisis, the latest sign that the wealthy have weathered the downturn far better than other groups.

Global wealth among individuals with $1m of investable assets or more rose to $42,700bn in 2010, up from $40,700bn in 2007, according to the Merrill Lynch Cap Gemini World Wealth Report.

...

Strong stock markets last year were a key driver of the gains, with global equities rising 18 per cent on average, according to the report.

“The performance in many markets helped to contribute to the growth in wealth in 2010,” the report stated. “Equity and other asset classes rose in value, though not at the exuberant pace of 2009’s bounce-back.”

The countries with the most millionaires in the world remain the US, Japan and Germany respectively, with China and the UK in fourth and fifth place respectively. China now has 535,000 millionaires, according to the report, only about a sixth of those in the US.

06-23-2011, 12:23 AM	#1
Hujkmlopes Join Date Oct 2005 Posts 431 Senior Member	Millionaires shrug off the downturn; Richer than before financial crisis Poor rich folks, they need more stimulus, otherwise they won't put that spiraling pile of wealth into any tip jars for the working class. We need to shut down parks, schools, health programs and unemployment checks immediately so we can cut their taxes so they don't lose any sleep over whether they'll be able to give summer homes to each of their kids and grandkids. Financial Times: http://www.ft.com/cms/s/0/94859e42-9...#axzz1Q3OL9Oah Millionaires across the world are now richer than they were before the financial crisis, the latest sign that the wealthy have weathered the downturn far better than other groups. Global wealth among individuals with $1m of investable assets or more rose to $42,700bn in 2010, up from $40,700bn in 2007, according to the Merrill Lynch Cap Gemini World Wealth Report. ... Strong stock markets last year were a key driver of the gains, with global equities rising 18 per cent on average, according to the report. “The performance in many markets helped to contribute to the growth in wealth in 2010,” the report stated. “Equity and other asset classes rose in value, though not at the exuberant pace of 2009’s bounce-back.” The countries with the most millionaires in the world remain the US, Japan and Germany respectively, with China and the UK in fourth and fifth place respectively. China now has 535,000 millionaires, according to the report, only about a sixth of those in the US.
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