World is home to more than 10 million millionaires

World is home to more than 10 million millionaires

www.cnn.com

The number of people around the world with at least $1 million in assets passed 10 million for the first time last year, according to a report. And their bank accounts are growing even faster.

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I wonder what the impact of this increasing number in wealthy people around the wolrd might be. Is with some millionaires here and there in some countries and we are in constant state of war, now add to that more wealthy people in countries like China, India and some others and there would be a lot of people trying to protect their own interest and therefore influencing many decisions of countries around the world.



www.cnn.com
(visit the link for the full news article)

[edit on 24-6-2008 by Bunch]

I dont think its really so much as an increasing number in wealthy, but more so a decreasing value in currency. If I had 1 million dollars 100 years ago, I was set for life. Now I'd hardly be set for 10 years if I continued living the same standard of living that I am not.

My .02 cents is that it's only worth .002 cents in this day and age.

reply to post by grimreaper797


Yeah, no kidding a million is barely enough for a moderate sized house or two maybe. Once upon a time a millionaire meant private jets, huge mansions, lots of fancy cars & plenty of cash on hand to travel & party. Now it just means your house is paid for and you have a vacation pad.

Originally posted by verylowfrequency
reply to post by grimreaper797

 

Yeah, no kidding a million is barely enough for a moderate sized house or two maybe. Once upon a time a millionaire meant private jets, huge mansions, lots of fancy cars & plenty of cash on hand to travel & party. Now it just means your house is paid for and you have a vacation pad.

I agree with the housing Idea, Housing prices are so high in portland, oregon right now, they have dropped a little, but if you want a decent house you are paying 300k, and that is for a 3 newer 3 bedroom home with a nice yard. A lot of the good neighborhoods are too expensive for the common man to live in. My wife and I bought a duplex and live in one side and rent out the other, we were lucky to get it at the price we did.

A million $ sure doesn't buy what it used to! At least not in the US, And 10million millionaires is nothing considering there are almost 6billion people on the face of the earth. We are all just a bunch of ants.

While I admit the relatively large number of billionaires and millionaires around the world is kinda disturbing, more concerning is the 3.8 billion+ people who live below the equivalent of $2 per day.