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Old 01-07-2012, 08:29 AM
 
Location: London, U.K.
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The US has just under half the population of the developed world, so that figures. The other half are mostly in Western Europe and Japan.
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Old 01-07-2012, 12:22 PM
 
Location: West Coast of Europe
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Originally Posted by softblueyz View Post
Key word: own. If you read my earlier post you would see that many "millionaries" don't OWN, but they do OWE, it all depends on what formula is used to determine what constitutes a millionaire. Many so-called "millionaires" look good on paper and have $10 in disposable cash, but in reality they are not a millionaire. A millionaire has at least or more than $1 million in disposable cash that they can write a bank check against that will clear. You can't write a check against a house worth $400,000 and expect it to clear. Disposable cash.
Then again, if you have a mansion and cars and stuff, but no cash, you are still rich to me. After all, if you really needed cash, you could just sell your crap, something a poor and even middle-class person couldn't do.
Also, if you have a lot of stuff, people know it and it can serve as a security when applying for a credit...
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Old 01-07-2012, 12:29 PM
 
Location: West Coast of Europe
25,903 posts, read 24,622,730 times
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Originally Posted by archineer View Post
The US has just under half the population of the developed world, so that figures. The other half are mostly in Western Europe and Japan.
I guess it's more like one third...
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Old 01-07-2012, 01:23 PM
 
3,204 posts, read 2,859,798 times
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Originally Posted by Neuling View Post
Then again, if you have a mansion and cars and stuff, but no cash, you are still rich to me. After all, if you really needed cash, you could just sell your crap, something a poor and even middle-class person couldn't do.
Also, if you have a lot of stuff, people know it and it can serve as a security when applying for a credit...

Not so much if it's all mortgaged.
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Old 01-08-2012, 12:46 AM
 
Location: London, U.K.
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Originally Posted by Neuling View Post
I guess it's more like one third...
Yeah maybe. Americans work more hours too.
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