Number of millionaires jumps

[derby378]

And now, in the "Who Didn't See This Coming?" category:

The number of millionaires in the United States grew nearly 10 percent in 2004, trumping the growth rates of high net worth individuals in other regions across the world, according to a report released Thursday.

The total number of U.S. millionaires came to nearly 2.5 million, thanks to strong economic growth, low interest rates, tax relief and solid performances by small- and mid-cap stocks, according to the World Wealth Report from Merrill Lynch and CapGemini.

The report looks at the growth rates and investment strategies of high net worth individuals around the world.

http://money.cnn.com/2005/06/09/news/world_wealth/index.htm?cnn=yes

[tk2kewl]

1. it's nonsense

artificially inflated real estate has made a lot of millionaires. it won't last

[G2099]

2. Transgenerational Financial Terrorism

"In 1982, when the supply-side subsidies first became law, Forbes required $91 million for inclusion on its list of the nation's 400 richest. The average wealth of those listed was then $200 million. By 1986, average wealth topped $500 million.

By the close of the Clinton era, $725 million was required just to make the list (versus an inflation-adjusted $161 million). Average wealth by 2000 topped $1.4 billion as, from 1998 to 2000, the wealth of this politically favored few grew an average $1.9 million per day.

That's $240,000 dollars per hour, or 46,602 times the minimum wage. Good work if you can get it."

http://www.alternet.org/story/16573

[Sabriel]

3. Misleading headline

I thought it was a repeat of Black Thursday, with subject-verb agreement problems....

[jsw_81]

4. ROFLMAO

You're funny.

[UncleSepp]

8. LOL! Took me a second... brilliant (n/t)

[tex-wyo-dem]

5. And the middle class suffers...

wonder what the numbers are for people who used to be part of the middle class and are now in the lower class/poverty category?

But who cares about them anyway, right?

[hankthecrank]

7. And as you get poorer please stay out of sight.

When I drive my SUV to my gated community.


Middle class can sign up for our new self help programs

1. Sign up for Military (got to get that oil)

2. Our new Company Store Walmart work camp (Like in country song sell your soul to the company store.

3. Also don't get sick you get fast access to 1. or 2.

For the record I also will looking in not in the gated community.

[Voltaire99]

9. Too true, Hank.

The overdogs have it figured out for the rest of us.

[raccoon]

6. While I'm not knocking being a millionaire,

it certainly doesn't mean what it did in previous decades, due to inflation.

[Megahurtz]

10. While all the while....

the middle class get poor and the poor become poorer.

Thanks, Bushitler.

:sarcasm: