It's Their World

The rest of us just rent live/work space from them:

The number of people in the world with at least $1 million of investable assets---excluding their primary residence and collectibles---rose 9.2 percent to a record 12 million in 2012, according to an annual report by Capgemini and RBC Wealth Management. Assets held by the rich grew 10 percent to $46.2 trillion, driven by gains among people with $30 million or more. The number of millionaires in North America rose 11.5 percent to 3.73 million, making it the region with the most growth.

We had a chance to do something about this a few years ago. Too bad nobody who had the power to change the equation thought it was a serious problem. But it is a serious problem.

---Baron V