Oh we've had class warfare alright. It just wasn't from the left asking for basic health care. Too bad we have a Democratic party that is too blinded by the deep pockets of Wall Street to give a damn about the real class warfare. This new report should not come as a surprise to anyone with open eyes since it's
already been discussed and then completely ignored by the political class. Why do we keep voting for these people?
The globe's richest have now recouped the losses they suffered after the 2008 banking crisis. They are richer than ever, and there are more of them – nearly 11 million – than before the recession struck.
In the world of the well-heeled, the rich are referred to as "high net worth individuals" (HNWIs) and defined as people who have more than $1m (£620,000) of free cash.
According to the annual world wealth report by Merrill Lynch and Capgemini, the wealth of HNWIs around the world reached $42.7tn (£26.5tn) in 2010, rising nearly 10% in a year and surpassing the peak of $40.7tn reached in 2007, even as austerity budgets were implemented by many governments in the developed world.
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