"The number of millionaires is on the rise, but investors still wary, study finds" by Alexis Leondis, Bloomberg News | June 11, 2010
NEW YORK — The global millionaires’ club expanded by about 14 percent in 2009, with Singapore leading the way, Boston Consulting Group said.
The number of millionaire households increased to 11.2 million, according to a study released yesterday by the Boston firm. Singapore posted a 35 percent gain, followed by Malaysia, Slovakia, and China....
“Given the severity and magnitude of the crisis, I’m surprised at how fast global wealth has come back,’’ said Bruce Holley, a senior partner at the firm....
I have not a clue what he is talking about do you, 99+% of the world?
We have rampant poverty, disease, and death all over the planet -- but more millionaires, yay!
I guess the great global economy works after all -- for the upper-crust that devised it for themselves. As for the rest of us....
Investors feel frustrated and distrustful following the market events that began in 2008, despite the increase in wealth, Holley said. “People still feel burned,’’ he said....
That's because their pensions never made it back.
Related: VenCap Vroom-Vroom
Oh, MORE STOLEN LOOT from you, Americans -- and mostly for money-losing failures that burn through the cash.
Global wealth rose by 11.5 percent after falling 10 percent in 2008, as assets under management increased to $111.5 trillion, close to the annual study’s record $111.6 trillion in 2007.
Well, wherever those are they are not here.
The number itself is mind-boggling.
The United States and Canada combined had the greatest gain in assets, up $4.6 trillion to $35.1 trillion. The United States also had the most millionaire households at 4.72 million, while Europe remained the wealthiest region, with $37.1 trillion....
Fewer than 1 percent of households globally were considered millionaire status, which is defined as investable assets of more than $1 million, exclusive of real estate and property such as art. Wealth became more concentrated, with millionaire households controlling 38 percent of the world’s assets, compared with 36 percent a year earlier, the study said....
Strange how THEY BENEFITED from the "crash," 'eh, America?
