51% of the worlds largest 'economiies' are corporations

  1. #1

    Join Date
    Apr 2003

    51% of the worlds largest 'economiies' are corporations

    Interesting study which reveals that 51% of the world largest 'economies' are actually corporations.


    Something I came across while randomly surfing the web.

  2. #2

    Join Date
    Jan 2003
    In the Lair of the Village Idiot's Apprenctice

    Facts about millionaires


    A survey of millionaires compiled by Merrill Lynch and CapGemini reveals interesting facts.
    • 1 in every 125 Americans is a millionaire.
    • The number increased by 14 percent last year.
    • More were created last year in the US & Canada than in Europe, Asia, Latin America & the Middle East combined.
    • are now 30,000 Americans worth more than $30m each.
    • Of millionaire fortunes worldwide, only 20 percent came from inherited wealth.
    Last week a Timbro survey by two Swedish economists revealed that in terms of GDP per head, only Luxembourg can rank with the richest US states, while most European countries come below the US average, and below Arkansas. It does not cover "the value of leisure or a good environment," (including the unwanted leisure of high European rates of unemployment).

    In 1999 a quarter of US households were poor (with less than $25,000 pa). By this standard 40 percent of Swedish households would be considered poor. Of course, some prefer to measure poverty relatively. In this context of US poor households, 45.9 percent own their own home, 72.8 percent have a car, and 77 percent have air conditioning. Their average living space is 1,200 sq ft per household. The European average including both rich and poor is 1,000 sq ft.

    Comments: Facts about millionaires
    If Jimmy Carter had remained president and inflation had remained at 13%, by now almost everyone in America would be a millionaire but it would probably cost $15,000 for a Big Mac. So the statistic tells us less than it seems. A million isn't much anymore.

    Posted by s masty at June 20, 2004 04:20 PM
    I am just wondering whether that is paper or real millionaire. Inotherwords can those millionaires turn their wealth into spending potential or is all tied up?

    I am not surprised by the statistics. The scary thing of course is that are pro-Euros who believe all those things are bad. They would prefer their Euro-nannying to wealth and spending power.

    Posted by Andrew Ian Dodge at June 20, 2004 10:41 PM
    "A million isn't much anymore."

    It's actually quite a lot, given that with a little smart investing and smart decision making, it's plenty to never work again if you so opt.

    Posted by Aaron at June 21, 2004 10:52 AM
    Most of these sorts of analyses seem to be based on a straightforward 'net-worth' concept - assets vs liabilities.

    For that reason, the net-worth numbers for Americans are probably higher in part because of the higher rates of home ownership, since many Americans have a lot of their net worth tied up in their homes.

    A lot of Americans also have significant net worth tied up in tax-deferred savings (401k's and the like) which may have a variable present value, depending on circumstances. The assets in a 401k, for example, carry a substantial tax penalty if withdrawn before certain age limits, in addition to any capital-gains penalties which they might attract.

    For a better understanding, read a book called 'The Millionaire Next Door', which explains why the US has so many people with a net worth north of a million dollars, and how they got that way.

    Posted by llamas at June 21, 2004 06:16 PM
    "A million isn't much anymore."

    What planet do you live on?

    Posted by Paul at June 21, 2004 07:27 PM
    Paul, a million what ?

    I'd agree. Depends on where you live. A million may buy you a decent 2BR apartment in NYC if you don't want to be in the cool neighborhoods. In Indiana or North Dakota, on the other hand, or in Prague, it would go a very long way...

    Posted by Sylvain Galineau at June 22, 2004 04:03 PM