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World is Now Richer Than Ever Before |
By, Simon Maierhofer
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Wednesday September 25, 2013 |
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Thanks to the phantom economic recovery, mainly noticed by rising share prices in stock exchanges around the world, aggregate global wealth has risen to a new staggering high ... but Draghi finds a fly in the ointment. |
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Based on Allianz’s Global Wealth Report, global shareholders are richer than ever before.
The Global Wealth Report tracks global funds held in stocks of every country – like the S&P 500 (NYSEArca: SPY), Dow Jones (NYSEArca: DIA), internationally developed markets (NYSEArca: EFA) and emerging markets (NYSEArca: EEM) - cash and cash equivalent bank deposits, stocks and consumer funds at insurance companies.
Assets like real estate (NYSEArca: IYR), cars, and art are not included in the report.
The wealth of investors around the world reached a total of $150 trillion.
You’d think that’s good news, but Mario Draghi – Europe’s central bank president – found a fly in the ointment. It has to do with banks. In fact, Draghi is alarmed.
Here’s the full story: Europe’s ECB Warden is Alarmed … For the Wrong Reason.
Simon Maierhofer is the publisher of the Profit Radar Report.
Follow Simon on Twitter @ iSPYETF or sign up for the FREE Newsletter.
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