That's nothing... Zimbabwe has seen more trillionaires emerge than in any other time in history.
Posted on 06/02/2011 8:56:40 PM PDT by 2ndDivisionVet
The world maybe headed for another recession, but there seems to be no better time to be a millionaire or billionaire.
Global wealth hit a record $121.8 trillion high in 2010 or $20 trillion above pre-recession levels, according to a new report by Boston Consulting Group (BCG). And, the number of millionaire households jumped 12.2 percent to about 12.5 million.
The trend will continue up to about $162 trillion by 2015, "driven by the performance of the capital markets and the growth of GDP in countries around the world. Wealth will grow fastest in emerging markets," says the report.
There are a couple of bright spots for all of you out there that do not fall in to the uber-rich category.
The United States is by far home to the most millionaires, according to BCG. In 2010, 5.2 million households in the U.S. had more than a million in assets under management compared to 1.5 million in Japan and 1.1 million in China.
And here's the really good news. If you want to make your millions, there is no better time than now, says Steve Siebold, author of the new book How Rich People Think. In the next five years, he predicts the United States will see more self-made millionaires emerge than in any other time in history.....
(Excerpt) Read more at finance.yahoo.com ...
Thank God he has a book to sell!
The love of money is the root of all poverty.
If he makes a million off of that...I'm gonna sell him my bridge in Brooklyn for 1/2 price...
There is a million guys out there with get rich quick schemes. If he knew how to make millions he would not be selling books.
Yeah, I’m just doin’ this poor guy thing for a lark...
I have one quadrillion dollars (Zimbabwe) on my desk as a reminder where we are headed.
That's nothing... Zimbabwe has seen more trillionaires emerge than in any other time in history.
Inflation.
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