Boston Consulting Group is out with its annual Global Wealth Report. Bloomberg News made this chart from their data. Millionaires and billionaires control 22% of all the wealth in Japan. That’s the lowest percent on this chart. Millionaires and billionaires control 30% of all the wealth in Western Europe. Asia-Pacific as a whole, more than 40%. Latin America, more than 45%. The Middle East and Africa, 55%. And in the United States, millionaires and billionaires control 63% of all wealth.
We have become a society of haves and have-nots. Most of us get but only a few of us have all we need. For the very wealthy, a warning sign. Some pretty affluent people no longer identify with the wealthy, because THEY now see an us-and-them gap. An economy 70% of which is consumer spending, needs well-being by the great indebted majority. Anything that improves their finances helps even the rich and the very rich.
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