From CNBC: The next American wealth boom has officially begun. It may not feel like it for many Americans.
But with the Dow breaching 14,000, shareholders and investors have recovered
the more than $8 trillion in wealth lost during the recession and attained
levels of paper wealth they haven't seen since the Roaring Oughts.
The stock market has gone from wealth destroyer to the
nation's largest manufacturer of new millionaires and billionaires. The market
moves are creating a new virtuous cycle of confidence for the wealthy. A new
survey from Spectrem Group shows that millionaire confidence in the economy hit
the highest level in two years, led by their bullishness on the economy and
corporate earnings.
The big question now is what the next Gilded Age will look
like, who will benefit and how long the market-fueled prosperity will
last. The population of millionaires in
America
is now at or above its 2007 high. According to Spectrem Group, the wealth
research firm, there are about 9 million American households with investible
assets of $1 million or more. The final tally for 2012 is not yet released, but
George Walper, president of Spectrem Group, said he expects 2012 and 2013 to to
approach, or even match the all-time high of 9.2 million in 2007….
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