PIGS AT THE TROUGH
Johann Wagener 6-18-13
The feeding frenzy continues. There’s no stopping these insatiable creatures from devouring more and more of this planet’s wealth with little regard to the devastation they create. NO! Not pigs! At least they perform a worthwhile function. I’m referring to that small and elite group of individuals who still live under the illusion that they are special and are entitled to hoard the wealth they acquire through others labor.
Not only are the rich getting richer, but their numbers are growing and North America is home to most of them, according to a report from Capgemini and RBC Wealth Management.
The World Wealth Report, released Tuesday, found the global population of millionaires reached record levels in 2012 growing by 9.2%, or 1 million people, to reach 12 million after remaining flat in 2011.
Their wealth also increased by 10%, or $46.2 trillion, after declining 0.7% last year. The report attributes this to slow but stabilizing economic growth.
The figure is well above the pre-crisis level of $40.7 trillion in 2007 and previous high of $42.7 trillion in 2010.
North America maintained its spot of being home to the most millionaires last year, growing by 11.5% or 3.73 million, the highest regional growth.