Tag Archives: assets

The U.S. Wealth Bubble Created Nearly A Million Millionaires Since 2017

Credit Suisse recently published its annual Global Wealth Report, which found that the United States “added 878,000 new millionaires [since 2017] – representing around 40% of the global increase.” The report also claimed that “The United States has the most members of the top 1% global wealth group, and currently accounts for 41% of the world’s millionaires.”

Credit Suisse Global Wealth Report

While America’s surging wealth may seem like a good thing at first blush, my research has shown that it is actually a dangerous bubble driven by the Fed’s aggressive monetary stimulus since 2008. As I explained in a recent presentation, U.S. household wealth has surged by approximately $46 trillion or 83% since 2009 to an all-time high of $100.8 trillion. Since 1951, household wealth has averaged 379% of the GDP, while the Dot-com bubble peaked at 429%, the housing bubble topped out at 473%, and the current bubble has inflated household wealth to a record 505% of GDP (see the chart below):

Net Worth As Percent Of GDP

Please watch my presentation “Why U.S. Wealth Is In A Bubble” to learn more:

Please read my other recent pieces about how the U.S. wealth bubble is affecting the economy:

How America’s Wealth Bubble Is Boosting Consumer Confidence

Only 28% Of Americans Are “Financially Healthy” During The Largest Wealth Bubble

We at Clarity Financial LLC, a registered investment advisory firm, specialize in preserving and growing investor wealth in times like these. If you are concerned about your financial future, click here to ask me a question and find out more.