How bad a recession? Ask the new millionaires

21 06 2010

Category: Finance, Politics

Business Week has produced a report on the countries with the most households with assets of more than a million dollars.

Comparisons like that are always a bit dubious given it’s a random figure, all the statistics they’re based upon, and global variations, but there are some striking elements relating to how many new millionaire households there are – lots – and how much of the national wealth is held by those households.

Some of the numbers I was most interested in weren’t included in the report (based on figures from Boston Consulting) so I’ve done some digging to provide more comprehensive information… Read the rest of this entry »

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Who benefits and who suffers

11 11 2009

Category: Politics, Finance

“But the ones who suffer aren’t the ones who benefited”

That’s George Soros to the Chairman of  the Federal Reserve Alan Greenspan who had dismissed the impact of economic downturns (quoted in David Hare’s play ‘The Power of Yes’).

There’s no better metaphor for that, and the whole of the credit boom, than… Read the rest of this entry »