BANZAI7 WORLDWIDE--The world's population of millionaires shrank dramatically last year as the global economic crisis took its toll on the wealthy, according to a report by Merrill Lynch Global Wealth Management and consulting firm Capgemini.
The number of people with assets of between $1 million and $30 million fell 14.9 percent to 8.6 million, according to the World Wealth Report released Wednesday.
Analysts were not surprised that the number of millionaires counting themselves as part of the financial services industrial complex actually increased, despite the financial meltdown of 2009. This has been attributed to the ponzinomial characteristics of the shake and bake bailout economy that has taken hold on Wall Street. "Heads we win, tails you lose." Sound familiar?
Slum Dogs of the world unite.
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