 Are they getting smaller? |
Europe has elbowed North America aside to become the wealthiest region in the world.
Hammered by steep equity losses, North America saw the steepest decline in wealth last year, with a 21.8-per-cent plunge. Globally, wealth fell to $92.4-trillion in 2008 from $104.7-trillion a year earlier as measured by assets under management, according to The Boston Consulting Group’s annual publication.
“The crisis is transforming the global map of the world’s wealthiest people,” the paper said.
Latin America was the only region where wealth actually increased last year. Its assets under management increased 3 per cent in 2008.
The number of millionaires around the world has fallen. Millionaire households fell by 17.8 per cent to 9 million last year, with the sharpest declines in North America and Europe. The United States still has the most millionaire households in the world though – nearly 4 million…
“Wealth will begin a slow recovery in 2010 but may not reach its pre-crisis level until 2013,” said Peter Damisch, a BCG partner and a co-author of the report.
He predicted wealth will grow at an average annual rate of about 4 per cent from year-end 2008 through 2013, with the fastest growth rates in the Asia-Pacific region, excluding Japan.
Here are these millionaires, struggling under the political yoke of socialist commie pro-abortion race-mixing tax-and-spend statists…
How do they ever manage to do it?
Thanks, Justin
“How do they ever manage to do it?”
Since it’s a fabricated story, they don’t. It’s amusing that lefty American tourist base their “European experience” on central Paris and Munich, but don’t consider other European destinations.
# 21 Lou Minatti,
It’s amusing that lefty American tourist base their “European experience” on central Paris and Munich, but don’t consider other European destinations.
Yea, I see what you mean. Those Swiss, Irish, Danish … are really pathetically poorer then those 9.7% unemployed Americans. And those rich Americans lucky enough to live in the Appalachian coal country are just raking in that money. I hear Las Vegas is doing very well.
#21 That’s where the caviar-eating left pullulates
Funny how those Europeans with their high taxes on the rich and their powerful unions are becoming wealthier than Americans.
Americans hopefully will one day wake up and find out that they are being raped on a daily basis by business and government money interests. I wonder how the rabid right will now characterize France and Germany as failing socialist countries now?
Cripes, I should have studied Swiss German.
#25 Oh, there’s as much if not more ripping in Europe, both corporate & governmental.