 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? /// Many factors, but none were home schooled.
The article goes on to say “The U.S. remains “by far” the wealthiest country on the planet, followed by Japan, the report said.”
Interesting, the #1 and #2 wealthiest countries in the world – aren’t in Europe.
3 pedro,
So the US is a “region” now? Oh… I get it… You lack comprehension. Try again.
#4
“So the US is a “region” now? Oh… I get it… You lack comprehension. Try again.”
Sure it is. It all depends on how you define region.
A large, usually continuous segment of a surface or space; area.
A large, indefinite portion of the earth’s surface.
A specified district or territory.
An area of interest or activity; a sphere.
Ecology. A part of the earth characterized by distinctive animal or plant life.
An area of the body having natural or arbitrarily assigned boundaries: the abdominal region.
5 GigG,
“Sure it is. It all depends on how you define region.”
Well, lets see what the FIRST LINE of the article says…
“Europe has elbowed North America…”
I think that says it all.
But, I do appreciate good semantic discussions.
Oh Eidard…. I sincerely hope that you intend your shot as a mere shot, and not an actual argument.
Shots are fun sometimes, good for you! Yay!
If the lady would just reach up a little higher? I bet she could make that Bull a happy fella.
The EU has 200 million more people than the United States. And they’re all 1st world nations.
So like, duh.
Maybe we can finally pull our troops out of Europe? Can they defend themselves now? Or intervene in places like the former Yugoslavia so that we don’t have to? Nah. Use my tax dollars instead, that’s the ticket!
#13 As long as we keep thinking we have to be the world’s policeman, we’ll have troops everywhere. I agree with you — bring them home!
The difference is that millionaires in the United States are struggling under the political yoke of fascist tax-and-spend statists. i.e. not much of a difference, the rest is cultural.
#6–named==very nicely done. A learning moment. Every good argument begins with definitions. Every good argument begins by reading what is actually said.
I have long been dumbstruck that “Big Business” hasn’t gotten behind universal health care. I’ve read the unions won’t let them do that. YEARS ago it was obvious the unions were going to bring down the Big 4. Who knew it would take America with it?
To think, all this crap came down because of our unwillingness to simply enforce laws that were already on the books. And despite the extra laws we enacted, like Sarbanes-Oxley. An ounce of enforcement is worth a pound of law.
# 16 bobbo, loving all things ignorant said
“I’ve read the unions won’t let them do that…it was obvious the unions were going to bring down the Big 4. Who knew it would take America with it? ”
You obviously believe the many more unions in Europe then United States is what is taking America down.
I guess you are advocating the United States should have more unions, about the same number of unions as Europe does.
“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.
Funny how those Europeans with their high taxes on the rich and their powerful unions are becoming wealthier than Americans.
Cripes, I should have studied Swiss German.