Thursday, April 20, 2006

The rich multiply in the USA

More Rich in the USA in the last ten years...

The Rich in the USA are getting richer- and their numbers increasing says a study on the number of households with $5m or more in investable assets –this is in above and " excluding the family home " – says a report.

Overall a "26 per cent to a record 930,000, according to a study bspectrumem Group.' That's the highest level sincspectrumem began its survey ten years ago.

I wonder if a similar study on wealth and the wealthy would show about the Philippines? I mean considering the number of new high rises and the increase in incomes after the influx of BPO's to the
country?
If in India the levels of new rich in areas where outsourcing was present boomed anskyrocketed leading to entirely new areas of development more catered to that side of the services and the BPO economy that has brought a higher level of new wealth on the sub-continent.

It only goes to expect to see some of those same figures here in the country where more and more people flock to the BPO sector in large numbers.

Overall the middle class is better of than they were in 2000 ; that was when the stock market flopped on thoverdevelopednt of dot-coms and sudden flux to those types of web based only companies that haunbelievablele growth projections - but in the end flopped when incomes did not match the potential and services offered where lagged down by lower levels of infrastructure to provide the offered internet based companies developments on a wider scale.

In another look at the survey figures another area to note -
The overall affluent market – households with $500,000 or more – rose by 7 per cent to a record 14m. Further the survey said - This group fared the worst in the wake of the stockmarket collapse, with their numbers falling sharply from 2000. Last year was the first time their total passed that of their peak in 1999. Catherine McBreen, a managing director at Spectrem, said: “It’s been a great couple of years for America’s millionaires .."

Data from FTonline report found here: http://news.ft.com/cms/s/3dcb3438-cfd4-11da-80fb-0000779e2340.html