Like the CS CIO said thank the central banks for asset inflation
The total wealth in the world grew by 6% over the past 12 months to $280 trillion, marking the fastest wealth-creation since 2012, according to a new report from Credit Suisse. More than half of the $16.7 trillion in new wealth was in the U.S., which grew $8.5 trillion richer.
But that wealth around the world is increasingly concentrated among those at the top. The top 1% now own 50.1% of the world's wealth, up from 45.5% in 2001.
"So far, the Trump presidency has seen businesses flourish and employment grow, though the ongoing supportive role played by the Federal Reserve has undoubtedly played a part here as well, and wealth inequality remains a prominent issue," said Michael O'Sullivan, chief investment officer for International Wealth Management at Credit Suisse. "Looking ahead, however, high market valuations and property prices may curb the pace of growth in future years."
The world's millionaires are expected to do the best in the coming years. There are now 36 million millionaires in the world and their numbers are expected to grow to 44 million by 2022.
The U.S. still leads the world in millionaires, with 15.3 million people worth $1 million or more.
Japan ranks second with 2.7 million millionaires, while the U.K. ranks third with 2.2 million. China ranks fifth with 1.9 million millionaires, but its millionaire population is expected to hit 2.8 million by 2022.
"There is no question former President Trump bears moral responsibility. His supporters stormed the Capitol because of the unhinged falsehoods he shouted into the world’s largest megaphone," McConnell wrote. "His behavior during and after the chaos was also unconscionable, from attacking Vice President Mike Pence during the riot to praising the criminals after it ended."
Like the CS CIO said thank the central banks for asset inflation
Obviously, our oligarch overlords need more tax cuts.Richest 1% now owns half the world's wealth
It is a good thing Trump and the Republicans make these downtrodden plutocrats one of their top priorities. Go Trump!
Bill (11-16-2017), Phantasmal (11-17-2017)
=$4.26 trillion growth for the top 1% and $4.26 trillion growth for the lower.The total wealth in the world grew by 6% over the past 12 months to $280 trillion, marking the fastest wealth-creation since 2012, according to a new report from Credit Suisse. More than half of the $16.7 trillion in new wealth was in the U.S., which grew $8.5 trillion richer.
i'd love to change the world
but I don't know what to do
so I leave it up to you - Ten Years After
MAGA now and worry about income strata at leisure
Rune (11-18-2017)
Life is Golden (11-19-2017)
Ya know. Instead of spending so much time worrying about how much other people have ya could be working on ways to earn more yourself.
Life is Golden (11-19-2017)
Time to go back to the barter system and make everyone equal again
Can I point something out which ought to be glaringly obvious but isn't apparently. Most people take a lifetime to gain wealth, people under the age of 30 haven't had time to do that unless they inherited it..
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You mean they haven't taken the time to do it.
I was born into relative poverty. By the time I was 30 I had a net worth exceeding 7 figures. Not too bad for a mixed race kid that barely graduated high school and had his first kid at 18. All it takes is a drive to succeed and a good work ethic.
Rune (11-18-2017)
No. I'm 6'5" with a ten inch dick actually (the African and Native genes mixed well with the Norse). Though the bourbon has taken a toll on my abs in recent years.
Seriously. The hardest thing with building wealth, other than others dragging you down, are the limits you put on yourself.
The lack of educated deplorables in this country is yet again the problem. When you have an economic system that is based on consumption people need to have disposable income in order to consume. The more disposable income the better the economy.
Bill (11-26-2017)
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