Rich People Finally Feeling Good About Being Rich, Again!
Sucks having fallen on these "tough economic times," for everyone! Even those who went from having, say, $20M in personal wealth to $5M in personal wealth. Those people feel shitty, too. Well, times have changed, and as the Wall Street Journal uncharacteristically (and somewhat "snark-ily") notes, "At least someone's feeling good about the economy." Who, you ask?
Why, the people who felt good about it before! Those with well-lined pockets, you silly broke people:
The latest Spectrem Millionaire Investor Confidence's Index, which polls people with $1 million or more in investible assets, rose substantially in October. Spectrem Group, a Chicago consulting firm, said its Millionaire Index jumped six points in October to the highest point since the good old days of December of 2007.
Not only that, but a report called ""High Hopes for the High End" recently released by Bank of America -- ha, who else? -- notes that they're going to start blinging out more, too, for four reasons: savings, investments, "good behavior", and jobs, which is the funniest of them all. The Bank of America nerd wrote:
"The labor market is significantly tighter for college-educated individuals, and those with more education generally enjoy stronger earnings growth."
Translated: If you don't have a job, and you have a college degree, shit's only going to get worse. If you have a job, and a college degree -- both of which, maybe, you won through the nepotism that's always moved the OLD MONEY OF YOUR ARISTOCRACY throughout time, you're probably going to make more money. Funny how that works out!