Global wealth up to 21 trillion pounds in 2007

LONDON (Reuters) - Global assets held by wealthy investors rose by 9.4 percent to $40.7 trillion (21 trillion pounds) in 2007, a slower pace than in 2006 as the credit crisis took hold, a study by Merrill Lynch and Capgemini showed on Tuesday.

The onset of the subprime crisis last summer and subsequent volatility in global markets meant growth was slower than the 11.4 percent rate seen the previous year, although emerging markets, particularly those benefiting from soaring commodity prices, helped support growth.

However, wealth, defined in the report as investable assets of more than $1 million held by one individual, is expected to rise by an annual rate of 7.7 percent to $59.1 trillion by 2012, an increase on last year's forecast of 6.8 percent growth annual compound growth by 2011.

http://uk.reuters.com/article/topNews/idUKL2450889020080624?feedType=nl&feedName=uktopnewsmid

We need a global wealth tax!

speculation owns nothing produces nothing and is only a bunch of rich guys betting against a bunch of rich guys and the outcome is just more poverty...THAT IS WEALTH BUILDING in the 21st century!