Thaksin and Pheu Thai Party face constitutional showdown

[snoop1130]

Millionaires' wealth reached record $63.5 trillion globally in 2016: study

 

FILE PHOTO: Luxury boats are seen in the bay of Monaco, September 27, 2017. REUTERS/Eric Gaillard/File Photo

 

HONG KONG (Reuters) - The number of millionaires in the world rose by nearly 8 percent last year to an all-time high of around 16.5 million people, with record total wealth of $63.5 trillion, according to a report by global consultancy firm Capgemini.

 

The wealth of high net worth individuals (HNWI) -- which Capgemini defines as those with investable assets of $1 million or more, excluding the primary residence, collectibles and consumables -- rose 8.2 percent on the year in 2016 and is on track to surpass $100 trillion by 2025.

Some 1.15 million people became millionaires last year, the report said.

 

The United States, Japan, Germany and China boast the highest numbers and together make up for almost two-thirds of the total.

 

In the United States, their ranks rose to 4.8 million from 4.46 million, while the number of millionaires in China rose to 1.13 million from just over 1 million.

 

The Asia-Pacific, Europe and North America contributed equally to the rise in wealth, with Russia, Brazil and Canada reversing course from declines a year ago, the report showed.

 

Russia, helped by a rebound in its stock market, saw both the number of its millionaires and their wealth grow by about 20 percent.

 

France overtook Britain in the top five in terms of the number of millionaires, helped by a recovery in real estate, while Sweden knocked Singapore -- which saw a decline in its equity markets -- out of top 25.

 

Surveys on the millionaires' financial asset holdings show they held 31.1 percent in equities in the second quarter of 2017, compared with 24.8 percent in 2016.

 

Fixed income held steady at 18 percent, while cash grew to 27.3 percent from 23.5 percent.

 

Alternative investments, such as hedge funds, derivatives, foreign currency, commodities and private equity, fell to 9.7 percent from 15.7 percent.

 

The report did not dive into the reasons for the reallocation, but stronger global growth, coupled with hefty liquidity after years of unprecedented stimulus by global central banks, have pushed stock markets around the world to record highs.

 

On the other hand, investors are wary of geopolitical risks, with tensions growing between the United States and North Korea, and are uncertain about the consequences the U.S. Federal Reserve's exit from unconventional stimulus might have on economies and markets.

 

Millionaires saw a 24.3 percent return on average on investment portfolios overseen by wealth managers.

 

(Reporting by Marius Zaharia; Editing by Kim Coghill)

 

-- © Copyright Reuters 2017-9-28

[boomerangutang]

And Trump will ensure that statistic gets even more lopsided - if he gets his way for new tax breaks for the rich and corps.

 

Nearly every country, including Thailand, has its obscene rift between v. rich and v. poor.  It's a reflection of humans' extreme selfishness.  For all but a few of our species, there is no such thing as 'too rich.'   Personally, if I had enough for a reasonably comfortable life (not speedboats or private jets), I would gladly give all the excess to good causes and/or needy people. 

 

If I had pursued my earlier goal of being a songwriter/performer (instead of joining a yoga community at age 22) it's possible I would have had one or more good-selling songs - and the residuals that come with that.

[hawker9000]

11 hours ago, boomerangutang said:

And Trump will ensure that statistic gets even more lopsided - if he gets his way for new tax breaks for the rich and corps.

 

Nearly every country, including Thailand, has its obscene rift between v. rich and v. poor.  It's a reflection of humans' extreme selfishness.  For all but a few of our species, there is no such thing as 'too rich.'   Personally, if I had enough for a reasonably comfortable life (not speedboats or private jets), I would gladly give all the excess to good causes and/or needy people. 

 

If I had pursued my earlier goal of being a songwriter/performer (instead of joining a yoga community at age 22) it's possible I would have had one or more good-selling songs - and the residuals that come with that.

"Personally, if I had enough for a reasonably comfortable life (not speedboats or private jets), I would gladly give all the excess to good causes and/or needy people. "

 

LOL.  Why sure you would.  But no worries in case you should ever win the lottery.  I'm sure there's plenty of wiggle room in "reasonably comfortable".   'Sounds a lot like the spoiled brat Hollywood elites who promised to leave for Canada if Trump were elected; and of course never did when it actually happened.

 

 

 

 

[tandor]

12 hours ago, boomerangutang said:

And Trump will ensure that statistic gets even more lopsided - if he gets his way for new tax breaks for the rich and corps.

 

Nearly every country, including Thailand, has its obscene rift between v. rich and v. poor.  It's a reflection of humans' extreme selfishness.  For all but a few of our species, there is no such thing as 'too rich.'   Personally, if I had enough for a reasonably comfortable life (not speedboats or private jets), I would gladly give all the excess to good causes and/or needy people. 

 

If I had pursued my earlier goal of being a songwriter/performer (instead of joining a yoga community at age 22) it's possible I would have had one or more good-selling songs - and the residuals that come with that.

..you can still write songs..how about 'we are the world' theme..

[maoro2013]

How do they know who has a million or more. I do, but it is spread around a bit in three countries. I would not be in the statistic I hope.

[RuamRudy]

5 hours ago, tandor said:

..you can still write songs..how about 'we are the world' theme..

Or you can do nothing at all - sit back, observe, most likely be a participant, as you willingly or unwillingly pour yours and your offspring's human worth into the offshore bank account of someone who cares not one jot about the effort, struggle or privations you suffered in generating said worth. Then, when someone tries to protest, no matter how ineffectual their protest might be, you can mock them while condemning your kids and their kids to wasting their lives to make the rich richer - just like you have done all your life. 

[boomerangutang]

8 hours ago, hawker9000 said:

"Personally, if I had enough for a reasonably comfortable life (not speedboats or private jets), I would gladly give all the excess to good causes and/or needy people. "

LOL.  Why sure you would.  But no worries in case you should ever win the lottery.  I'm sure there's plenty of wiggle room in "reasonably comfortable".   'Sounds a lot like the spoiled brat Hollywood elites who promised to leave for Canada if Trump were elected; and of course never did when it actually happened.

The way you and your buddies think, is not necessarily how others think.  I could give you stories of my life, but I don't want to waste my time.

[ELVIS123456]

45 minutes ago, boomerangutang said:

The way you and your buddies think, is not necessarily how others think.  I could give you stories of my life, but I don't want to waste my time.

Thanks for not wasting my time.

[tandor]

4 hours ago, RuamRudy said:

Or you can do nothing at all - sit back, observe, most likely be a participant, as you willingly or unwillingly pour yours and your offspring's human worth into the offshore bank account of someone who cares not one jot about the effort, struggle or privations you suffered in generating said worth. Then, when someone tries to protest, no matter how ineffectual their protest might be, you can mock them while condemning your kids and their kids to wasting their lives to make the rich richer - just like you have done all your life. 

...say what !