From time to time we like to present our Advanced GET membership with interesting outside perspectives on the markets, the economy, and even politics (intersecting with the markets and the economy). Larry Kudlow has an interesting counterpoint to all the doom and gloom being preached from the mainstream press and even the Wall Street Journal.
The Financial Times has echoed what I’ve been saying all along and the MSM has largely ignored: We are in an American Boom right now and the rising tide of prosperity is lifting boats all across the country.
“The number of very rich people in the US grew last year at the fastest pace in at least a decade as their moves into international stock markets, real estate and alternative investments paid off.
The number of households with $5m (€4m) or more in investable assets – excluding the family home – rose by 26 per cent to a record 930,000, according to a study by Spectrem Group. That is the biggest jump since Spectrem began its survey in 1996. The number of millionaires rose by 11 per cent, to a record 8.3m – the second biggest jump in the decade since they were surveyed.
The overall affluent market – households with $500,000 or more – rose by 7 per cent to a record 14m…”This is not just a “rich getting richer” story here. On the contrary, greater numbers of hardworking Americans are making more money than ever before in our nation’s history. These folks are fueling the continued overall growth and health of our nation’s robust economy.
That is good that people are able to receive the mortgage loans and it opens new chances.
Posted by: CortezKarin | August 30, 2011 at 02:26 AM