HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » And We're Back! Dow 14,00...

Mon Feb 4, 2013, 12:23 AM

 

And We're Back! Dow 14,000 Fuels a New Wealth Boom

The next American wealth boom has officially begun.

It may not feel like it for many Americans. But with the Dow breaching 14,000, shareholders and investors have recovered the more than $8 trillion in wealth lost during the recession and attained levels of paper wealth they haven't seen since the Roaring Oughts.

The stock market has gone from wealth destroyer to the nation's largest manufacturer of new millionaires and billionaires. The market moves are creating a new virtuous cycle of confidence for the wealthy. A new survey from Spectrem Group shows that millionaire confidence in the economy hit the highest level in two years, led by their bullishness on the economy and corporate earnings.

The big question now is what the next Gilded Age will look like, who will benefit and how long the market-fueled prosperity will last.

The population of millionaires in America is now at or above its 2007 high. According to Spectrem Group, the wealth research firm, there are about 9 million American households with investible assets of $1 million or more.


http://www.cnbc.com/id/100420112



I'm going GulfStream shopping 1st thing tomorrow.

1 replies, 322 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply And We're Back! Dow 14,000 Fuels a New Wealth Boom (Original post)
Leslie Valley Feb 2013 OP
LongTomH Feb 2013 #1

Response to Leslie Valley (Original post)

Mon Feb 4, 2013, 12:31 AM

1. "A new virtuous cycle of confidence for the wealthy"

What about the rest of us? How long can a boom fueled by the rich last when the former middle class doesn't have money to spend?

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread