World's Richest Now Richer Than Before Great Recession

[georgephillip]

You mean we're not all in this together?

Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.

"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 rich get richer because the poor get austerity budgets.

World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams

 

[Defiant1]

This is great news. Turning the economy around starts at the top.

 

[RDD_1210]

This is great news. Turning the economy around starts at the top.

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

 

[uscitizen]

So the Money Bush and Obma spent worked then?

 

[thereisnospoon]

You mean we're not all in this together?

Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.

"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 rich get richer because the poor get austerity budgets.

World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams

Holy shit? Starting another class envy troll thread?
Quite frankly, we're tired of this bullshit.
The mods should close this idiotic thread.

 

[thereisnospoon]

This is great news. Turning the economy around starts at the top.

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

If Obama had his druthers, he'd find a way to tax the shit out of every person he views as having "too much". Oh wait....He's already said he'd do that.... To everyone who makes over $125k per year....The rich...

 

[RDD_1210]

Just more proof that in todays economy it is geared towards making the rich, richer while the middle class shrinks and struggle more and more every day. It's many of the people on this site that fall in to that last group but many of them have been convinced that by increasing the wealth of the wealthy will somehow help them too. It's an amazing thing to watch really. Theres a sucker born every minute is probably an understatement.

 

[RDD_1210]

This is great news. Turning the economy around starts at the top.

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

If Obama had his druthers, he'd find a way to tax the shit out of every person he views as having "too much". Oh wait....He's already said he'd do that.... To everyone who makes over $125k per year....The rich...

LOL, now it's 125k a year? I love how the "facts" always seem to change. Care to back any of this up? Of course you won't. Because you just made that up. How Convenient.

 

[Defiant1]

This is great news. Turning the economy around starts at the top.

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

No. The rich are getting richer despite Zero. Why? Because they can. The rest of us just have to hang on until Jan. 2013.

 

[RDD_1210]

This is great news. Turning the economy around starts at the top.

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

No. The rich are getting richer despite Zero. Why? Because they can. The rest of us just have to hang on until Jan. 2013.

LOL,"because they can". So Obama isn't holding the rich back then? And the economy is getting better, no? That is what you said.

 

[georgephillip]

This is great news. Turning the economy around starts at the top.

Which economy is that?

It doesn't sound like the right prescription for the US economy where 70% of GDP is driven by consumption.

How does that happen without a US middle class that's paid enough to buy what it produces?

 

[uscitizen]

This is great news. Turning the economy around starts at the top.

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

No. The rich are getting richer despite Zero. Why? Because they can. The rest of us just have to hang on until Jan. 2013.

there will be no real change in 2013.

 

[uscitizen]

This is great news. Turning the economy around starts at the top.

Which economy is that?

It doesn't sound like the right prescription for the US economy where 70% of GDP is driven by consumption.

How does that happen without a US middle class that's paid enough to buy what it produces?

It doesn't.

 

[georgephillip]

So the Money Bush and Obma spent worked then?

Never forget the contribution of the Federal Reserve.

Some of the rebound the rich have enjoyed has come from borrowing at next-to-zero Fed interest rates and using the money to speculate on oil and food.

Not that Bush or Obama have any problem with that.

 

[georgephillip]

You mean we're not all in this together?

Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.

"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 rich get richer because the poor get austerity budgets.

World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams

Holy shit? Starting another class envy troll thread?
Quite frankly, we're tired of this bullshit.
The mods should close this idiotic thread.

According to an annual report by Merrill Lynch and Capgemini the wealth of "high net worth individuals" globally reached $42.7 trillion in 2010, two years after the onset of the Great Recession. Between 2009 and 2010 the HNWIs saw their incomes rise nearly 10%.

Does that sound like shared sacrifice to you?
Or are the rich getting richer by inflicting austerity budgets on everyone else?

 

[NYcarbineer]

Witnessing working class rightwingers defend the Rich is like watching poor people buy lottery tickets.

 

[thereisnospoon]

So you think things are headed in the right direction? Under Obama?


This is where you get to look like a hypocrite...and Go!

If Obama had his druthers, he'd find a way to tax the shit out of every person he views as having "too much". Oh wait....He's already said he'd do that.... To everyone who makes over $125k per year....The rich...

LOL, now it's 125k a year? I love how the "facts" always seem to change. Care to back any of this up? Of course you won't. Because you just made that up. How Convenient.

$250k for married filing jointly. $125,000 for individuals.
Tax Countdown: Are You a Winner or a Loser?

A tax reform slam dunk - Yahoo! News
interesting how in this story, those earning $25ok plus make up just 2.5% of all taxpayers yet this income level and above pay HALF of the total federal burden.
By increasing the top marginal rate to 39.6% would mean this income bracket would then pay about 55% of the total burden. A drop in the bucket.
This is pure politics and pandering to the class envy crowd.
It's partisan garbage.

 

[Remodeling Maidiac]

You mean we're not all in this together?

Not if you're among the "high net worth individuals" (HNWIs) who've not only made back what they lost in the fall of '08, now they are richer than ever and there are more of them - nearly 11 more - than before the recession struck.

"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 rich get richer because the poor get austerity budgets.

World's Wealthiest People Now Richer than Before the Credit Crunch | Common Dreams

Next time you are successful in your life be sure to beat yourself down for it. Idiot...

 

[thereisnospoon]

This is great news. Turning the economy around starts at the top.

Which economy is that?

It doesn't sound like the right prescription for the US economy where 70% of GDP is driven by consumption.

How does that happen without a US middle class that's paid enough to buy what it produces?

You're still on that government madated minimum salary kick?
Look genius, everything is relative. If employers are forced to significantly increase wages ( via government fiat) those businesses would be forced to significantly raise prices to pay the higher wages.
Everybody would be right back where they started. So nothing changes.

 

[thereisnospoon]

So the Money Bush and Obma spent worked then?

Never forget the contribution of the Federal Reserve.

Some of the rebound the rich have enjoyed has come from borrowing at next-to-zero Fed interest rates and using the money to speculate on oil and food.

Not that Bush or Obama have any problem with that.

Oh yes. The grand conspiracy to run up the price of commodities.
What say you when "speculators" trade on downward price movements?
Then it's ok, right?
Traders do not have an interest in guiding the pricing. They trade on rising and falling futures prices.