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Global Wealth Distribution Takes A Big Swing Toward The US

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Nearly 4 million Americans moved into the global 1 percent this year, according to the Credit Suisse Wealth Report.

This represents a big swing in the global wealth distribution, with Japan being the only other country with significant gains. Presumably this has to do with relatively strong performance of US markets in the past year.

Many Europeans fell out of the global 1 percent, led by Italy, with 705,000 dropouts.

While rich Americans got richer, of course, most Americans keep getting poorer. For a country with significant gains in median wealth, look what's happening in Australia.

credit suisse global wealth chart

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