Millionaires control 41% of world's wealth, expected to take more

CNBC's Inside Wealth ^ | June 15, 2015 | Robert Frank

[randita]

A good many of these “rich” take risks with their money that most of us would never dare try. Their risk has been rewarded. But watch what happens if the real estate or stock market crashes. A lot of these “rich” will be paupers in short order. Because of their nature, they won’t stay paupers for long.

Look at how many times Trump has gone belly up and has bounced back.

[Moonman62]

If people earn it, that’s fine. My issue is with millionaire politicians and their cronies.

[trebb]

And what portion of this wealth was created by these millionaires?

Another salient question might be, how many more poor (and fewer millionaires) are there because of the Left's "war on poverty"?

[Zathras]

A little known fact is most homeowners in CA are worth millions.
The joke was you knew the homeowners as they drove the beat up cars.

[freedomfiter2]

Well said. Class warfare is a tool of the left even when it’s waged by the right.

[Rock N Jones]

“market performance on existing assets rather than newly created wealth or businesss”

Don’t forget money talks!

http://www.cnn.com/2015/05/15/politics/hillary-clinton-speeches/

[BlueYonder]

Such are the ramblings of the mathematically ignorant.

The rich will always get richer provided the law of compounding interest remains in effect. Let’s take a look at reality without the screens of liberal and financial ignorance.

If invested assets double every 10 years, a person with $1MM invested today will have $2MM in 10 years. A person with $1B invested today will have $2B in 10 years.

The exact same mathematical effect that caused the $1M to grow to $2MM also caused the gap between the example portfolios to widen from $999,000,000 to $1,998,000,000 in ten years.

So what. What evil force has done this horrid deed? /sarc

Instead of inciting greater envy, why not educate people on how to make this amazing phenomenon work for them?

[MrB]

1960 - poverty rate 14%
2015, after $22 TRILLION transferred from earners to “the poor”,

poverty rate, still 14%.

[DUMBGRUNT]

Not to worry!
After the tsunami of inflation driven by QE rolls by; we will all be millionaires!

[from occupied ga]

Instead of inciting greater envy, why not educate people on how to make this amazing phenomenon work for them?

Well suppose you are a democrat politician, and you want to keep getting elected, because government work is the best there is. You are never held accountable for anything stupid or downright evil that you do, and you get to spend other peoples' money. Your voter base is ignorant and lazy. Which do you think they want to hear?

1. It isn't your fault that you aren't rich. It's because those rich people just keep winning life's lottery. It's just luck that they're rich and you aren't OR
2. You're not rich because you don't work hard enough, and you spend what money you do earn foolishly. See those rich people. Some of them go ten or more years without taking a single vacation, but you go and charge up an expensive vacation every year because "you deserve it." They don't finance lifestyle with debt - you do. They go without. You stint yourself nothing as long as you can borrow more money to pay for it. It's no wonder you're poor, etc.

Which message is going to get the votes?

[Toddsterpatriot]

After the tsunami of inflation driven by QE rolls by

QE ended last October, what's the tsunami waiting for?

[DUMBGRUNT]

The single most important factor is for the economy to return form near death.

Note well: Nothing on earth is free!
Not the air you breathe.
No free lunch, never.

[Toddsterpatriot]

The single most important factor is for the economy to return form near death.

Inflation isn't driven by QE, it's driven by the strength of the economy?

[roadcat]

If you include property and 401k savings along with the number of baby boomers reaching or nearing retirement age, I would say 17 million millionaires in the world seems low.

Definitely low, and a fact that supports that conclusion exists here in the SF Bay Area where little old ladies own homes worth over a million dollars that they originally bought for under $20,000. You include their property, they're easily millionaires.

[DUMBGRUNT]

Unlikely to have much inflation in a weak economy, but is possible.

So tell us about your low inflation views?
Near term and the long view?

How do you make money in that environment?

Being an old grunt and becoming more risk averse, always looking for new ideas.

[Toddsterpatriot]

So tell us about your low inflation views? Near term and the long view?

I don't see inflation spiking anytime soon.

How do you make money in that environment?

Hold good stocks, don't go too far out on the yield curve.

[Technocrat]

No not really :)
I was just trying to make a statistical point, that of course millionaires are going to control most of the wealth because as the value of dollar drops, more will get created and since there’s so much money per millionaire it’s naturally going to increase the percentage of wealth controlled by them.