Despite a decade of negative real returns on equities, several equity bear markets and the collapse of housing bubbles, the 2013 Credit Suisse Wealth Report finds that global wealth has more than doubled since 2000, reaching a new all-time high of 241 trillion US dollars. Strong economic growth and rising population levels in emerging nations are important drivers of this trend. Average wealth per adult has also hit a new peak of 51,600 US dollars, but inequality remains high.
The World Wealth Report has some staggering statistics ..
- Taken together, the bottom half of the global population own less than 1 percent of total wealth
- the richest 10 percent hold 86 percent of the world’s wealth,
- and the top 1 percent alone account for 46 percent of global assets.
One wonders are these some of the same people that say they can’t afford to pay any more tax ? Are they the same people that build myths around welfare and begrudge people 188 euro a week to survive ?
Report is available here
if you have the stomach for it that is …………