World’s wealthiest region? Europe, now!
Are they getting smaller?
Europe has elbowed North America aside to become the wealthiest region in the world.
Hammered by steep equity losses, North America saw the steepest decline in wealth last year, with a 21.8-per-cent plunge. Globally, wealth fell to $92.4-trillion in 2008 from $104.7-trillion a year earlier as measured by assets under management, according to The Boston Consulting Group’s annual publication.
“The crisis is transforming the global map of the world’s wealthiest people,” the paper said.
Latin America was the only region where wealth actually increased last year. Its assets under management increased 3 per cent in 2008.
The number of millionaires around the world has fallen. Millionaire households fell by 17.8 per cent to 9 million last year, with the sharpest declines in North America and Europe. The United States still has the most millionaire households in the world though – nearly 4 million…
“Wealth will begin a slow recovery in 2010 but may not reach its pre-crisis level until 2013,” said Peter Damisch, a BCG partner and a co-author of the report.
He predicted wealth will grow at an average annual rate of about 4 per cent from year-end 2008 through 2013, with the fastest growth rates in the Asia-Pacific region, excluding Japan.
Here are these millionaires, struggling under the political yoke of socialist commie pro-abortion race-mixing tax-and-spend statists…
How do they ever manage to do it?
Thanks, Justin
Holler at your Congress-critter to support Bernie Sanders' bill to 
Cinaedh,
Sorry that the US numbers are bringing down the North American average. Maybe you could enlighten us poor Americans on how a better managed economy is run.
Mr. Fusion
September 15, 2009 at 9:47 am
As far as I can tell, other than some minor regulations imposed by a series of ‘socialist’ governments, our banks prosper by charging an endless maze of user fees and they have some very imaginative staff, thinking up more and more user fees, every day of the year.
So, if they fuck up a bunch of expensive investments in ‘thin air’, they still remain solvent.
Thus endeth the lesson for today.
Cinaedh
September 16, 2009 at 6:42 am
If Canada cut on the dotted line, the U.S. would fall off.
hhopper
September 16, 2009 at 12:39 am
…taking Mexico and the rest of Central America with you…
Hmmm….
Cinaedh
September 16, 2009 at 6:36 am
But leaving Sarah Palin in Alaska.
Mr. Fusion
September 16, 2009 at 10:00 am
Damn!
Hadda spoil it, dinnya?
Next thing you know, she’d be leading the Conservative Party and running for Prime Minister.
Cinaedh
September 16, 2009 at 2:32 pm
That would be like having Harper on LSD.
Jägermeister
September 16, 2009 at 2:35 pm
… sorry …
Mr. Fusion
September 16, 2009 at 3:09 pm
Haven’t you heard Bush’s speechwriter quoting his boss?
“Who is she? The governor of Guam?”
moss
September 16, 2009 at 11:07 am