Sunday, June 26, 2011

"Quelle Surprise! World’s Richest Profited From the Crisis!"

"Quelle Surprise! World’s Richest Profited From the Crisis!"
by Yves Smith

"Much ink has been spilled about the increase of wealth at the top. This graphic comes from the Guardian (hat tip Merrill K, click to enlarge):

From the related article: "In the world of the well-heeled, the rich are referred to as “high net worth individuals” (HNWIs) and defined as people who have more than $1m (£620,000) of free cash. According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world.
The report also measures a category of “ultra-high net worth individuals” – those with at least $30m rattling around, looking for a home. The number of individuals in this super-rich bracket climbed 10% to a total of 103,000, and the total value of their investments jumped by 11.5% to $15tn, demonstrating that even among the rich, the richest get richer quicker. Altogether they represent less than 1% of the world’s HNWIs – but they speak for 36% of HNWI’s total wealth.

But not to fear, marketers are still plenty interested in the rest of us (hat tip reader Scott):"

Click image to enlarge.

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