While millions of Americans lost their jobs, their homes, their savings, their retirement....the rich got richer. That's right, during 2009, millionaires increased by 17.1%.
The world’s population of high net worth individuals (HNWIs) grew 17.1% to 10.0 million in 2009.The world’s population of high net worth individuals (HNWIs) returned to 10 million in 2009, increasing by 17.1% over 2008.
HNWI financial wealth increased 18.9% from 2008 levels to $39 trillion. After losing 24.0% in 2008, Ultra-HNWIs saw wealth rebound 21.5% in 2009.Ultra-HNWIs increased their wealth by 21.5% in 2009. In terms of the total Global HNWI population remains highly concentrated with the U.S, Japan and Germany accounting for 53.5% of the world’s HNWI population, down slightly from 2008.
North America specifically, the rich got richer by 17%.
In North America, the ranks of the rich rose 17 percent and their wealth grew 18 percent to $10.7 trillion.
The United States was home to the most millionaires in 2009 -- 2.87 million -- followed by Japan with 1.65 million, Germany with 861,000, and China with 477,000.
Switzerland had the highest concentration of millionaires: nearly 35 for every 1,000 adults.
One of the investments mentioned that the wealthy used to get wealthier was real estate. Right. While you lose your home, are foreclosed on, cannot afford a home, we have the mega rich making money off of this tragedy.
A note of Irony
Some of these unfortunate people join the Tea Party and tell government to stop trying to help them (not that the government efforts in this area have done much). Seeing how the banksters have bought both the ruling political parties, it is an understandable reaction -- but also reflects some degree of "false consciousness." To paraphrase a popular song of the twenties, "The rich get richer and the poor get screwed."
Frank T.
it's clear to me corporations channel Populist rage
at this point. I've seen it repeatedly, especially via punditville, say Glenn Beck and so on, they rail on some enormous truth, say how ineffectual or corrupt Congress is or whatever...
but then try to turn that to some corporate agenda as the answer.
i.e. "small government". People obviously do not want "small government", they want a real government, not corrupt, efficient, competent that actually represents the people and acts in their best interests.
There might be a fraction who says "so corrupt, might as well shrink it" as a result, but I don't think that's what most people want.
Just today, the GOP doesn't want to admit they want to offshore outsource your job through tax incentives, so they mis-characterize the bill as "raising taxes".
If it got out that the GOP wants to make sure your job is shipped to India or China...
I think we'd see a real different reaction.
I think we could do a "top 10" or "top 100" re-framing of an issue to advance some corporate agenda as the "alternative" list on here. Health care. What's the beef? No cost reduction, a cave to lobbyists and special interest...what's the channel?
scary "socialized" medicine. They have got to be kidding me. and it seems to work which is amazing.