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And, yes, I DO take it personally: More poor people but more millionaires too
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Friday, September 17, 2010

More poor people but more millionaires too

what's wrong with this picture (besides everything)...?
The level of poverty in the US is the highest since 1994 and “the number of people in poverty in 2009 is the largest number in the 51 years for which poverty estimates are available.”

The bureau defines poverty as any family of four living on less than 21,954 USD a year.

The bureau's report, Income, Poverty and Health Insurance Coverage in the US: 2009, covers President Barack Obama's first year in office. It indicates Americans of Asian origin are the richest, while black people are the poorest.


While millions are unemployed and living in poverty, the number of millionaires is rising again. “After downsizing in number through the market turmoil of mid-year 2007 to mid-year 2009, Wealth Market households rebounded at mid-year 2010,” Phonex Marketing said in a report.

“Recording an 8% growth rate from 2009 from the strength of increases in the equity markets, Wealth households now number nearly 5.6 million in the U.S.”

As for all affluent families - that covers those with at least 250,000 USD in invest able or liquid assets or 150,000 USD in household income - Phoenix noted that “despite enormous volatility in the economy and stock markets, the broad affluent market in the U.S. has managed to register small gains in numbers over the past five years, and now number nearly 25 million households.”

besides what the article says about where things are headed in my country, it's also particularly embarrassing that it's a headline article in a news service i subscribe to, mercopress, that covers news from the south atlantic...

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