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The number of millionaires in the United States jumped by 16 percent last year after slumping by 27 percent in 2008, a report released Tuesday shows.

Last year, some 7.8 million US households had a million dollars or more in investable assets -- not counting capital invested in their primary residence, the report by the Spectrem Group shows.

That was up by 1.1 million from the year before, when the number of US millionaires fell to its lowest point since 2003, hitting 6.7 million as the US economy stumbled.

Good times are back, right?
by das monde on Thu Mar 11th, 2010 at 02:52:24 PM EST
The dollar went down, so you needed less "real" money to be a dollar millionaire.
by gk (g k quattro due due sette "at" gmail.com) on Thu Mar 11th, 2010 at 03:01:37 PM EST
[ Parent ]
Probably not a lot of impact there unless the wealthy were putting all of their assets in currencies, which would be pretty risky.  There wasn't much movement in the major currencies over the year.  Dollar was down a few cents against the euro and pound.

But the dollar was up in 2008 after the panic hit and everybody dove for liquidity, and the number of millionaires still declined a lot.

All this really means is that asset prices were up in 2009.

Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin

by Drew J Jones (myfriends@thisispancakes.com) on Thu Mar 11th, 2010 at 05:35:48 PM EST
[ Parent ]
Was talking to one of my editors today. He works at a certain well-known UK magazine publishing company.

The staff have been told to choose between a pay freeze and redundancy - while the CEO has had a pay rise of nearly £100k, and is now earning a modest half million or so.

Or rather, that's the salary component. There's extra for stock options, and such.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu Mar 11th, 2010 at 04:09:36 PM EST
[ Parent ]
They need to get unionised.

Ad astra per aspera
by In Wales (inwales aaat eurotrib.com) on Thu Mar 11th, 2010 at 04:15:47 PM EST
[ Parent ]
I can think of one in the South West, whose employees are particularly badly treated whenever I run into one of them, it sounds like just the sort of thing that they would do.

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Thu Mar 11th, 2010 at 07:08:54 PM EST
[ Parent ]

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