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Old 03-16-2011, 07:41 PM
 
Location: Florida
62,635 posts, read 34,138,335 times
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NEW YORK (CNNMoney) -- What recession? The millionaire population jumped in the U.S. by 8% last year, fueled by the stock market recovery, according to an industry report on Wednesday.

The number of U.S. households worth at least $1 million rose to 8.4 million in 2010, compared to 7.8 million the prior year, according to a report by Spectrem Group.

Last year marked the second consecutive year of increases, the group said, following a 16% surge in the millionaire population in 2009

U.S. millionaires population expanded by 8% in 2010 - Mar. 16, 2011

In the prior year of 2008, the millionaire population plunged 27%.

The group said the number of "ultra high net worth" households, with a net worth of at least $5 million, jumped 8% in 2010 to 1.06 million, compared to 980,000 the prior year.

The broader affluent population, meaning households with a net worth of $500,000 or more, also grew in 2010. This population rose by 6% to 13.5 million in 2010, compared to 12.7 million the year before.

Households worth at least $100,000 also grew last year, to 36.2 million from 34.6 million.
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Old 03-16-2011, 07:46 PM
 
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People who were millionaires simply held their stocks until they recovered..

Smart move.. I feel bad for the suckers that went running and hiding because of all of the fear mongering..
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Old 03-16-2011, 07:48 PM
 
49,998 posts, read 26,499,057 times
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Wow. How did that happen under a Marxist/Communist/Socialist President?
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Old 03-16-2011, 07:50 PM
 
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Quote:
Originally Posted by pghquest View Post
People who were millionaires simply held their stocks until they recovered..
Suuuuuure they did.
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Old 03-16-2011, 07:51 PM
 
69,372 posts, read 55,339,374 times
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Quote:
Originally Posted by desertdetroiter View Post
Suuuuuure they did.
The quote from the OP even said this was true
fueled by the stock market recovery,
Quote:
Originally Posted by desertdetroiter View Post
Wow. How did that happen under a Marxist/Communist/Socialist President?
People still get rich under all of those scenarios..
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Old 03-16-2011, 07:57 PM
 
10,963 posts, read 8,031,821 times
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Quote:
Originally Posted by desertdetroiter View Post
Wow. How did that happen under a Marxist/Communist/Socialist President?
Ironic, Obama gets blamed for every damn thing from $4.00 a gallon gas to not getting the United States deeper involved in Libya yet you will hear little if any praise for this.

The fact of the matter is that the Dow Jones Industrial Average has increased over 50% since Obama took office.
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Old 03-16-2011, 08:00 PM
 
69,372 posts, read 55,339,374 times
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Quote:
Originally Posted by JazzyTallGuy View Post
Ironic, Obama gets blamed for every damn thing from $4.00 a gallon gas to not getting the United States deeper involved in Libya yet you will hear little if any praise for this.

The fact of the matter is that the Dow Jones Industrial Average has increased over 50% since Obama took office.
True.. but the stock market has grown at the expense of the employees and the american consumer..
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Old 03-16-2011, 08:00 PM
 
49,998 posts, read 26,499,057 times
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Quote:
Originally Posted by pghquest View Post
The quote from the OP even said this was true
fueled by the stock market recovery,

People still get rich under all of those scenarios..
Really? Who got rich under Stalin besides Stalin? Who got rich under Castro besides Castro?
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Old 03-16-2011, 08:05 PM
 
69,372 posts, read 55,339,374 times
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Originally Posted by desertdetroiter View Post
Really? Who got rich under Stalin besides Stalin? Who got rich under Castro besides Castro?
People who had connections to government and was able to profit from it..

for example under Castro, Elian Gonzales's father was very well off...
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Old 03-16-2011, 08:10 PM
 
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How do they know? I don't have any asking me what I'm worth and if they did I would not tell.
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