Posts Tagged ‘ Europe ’

Are you among the world’s wealthiest? This will surprise you

Yesterday I was reading Credit Suisse report on global wealth , $3,650 would place you among the world wealthiest !!

Lasr year global wealth grew by 8.3% and now the global wealth worldwide if $263billion

Distribution of Wealth :

America

$91,240 bn

Europe

$85,200 bn

Asia Pacific

$49,849 bn

China

$21,404 bn

Latin America

$9,113 bn

India

$3,604 bn

Africa

$2,831 bn

 

The average person is worth $56,000.

An individual $3,650 ( all assets ) you among the wealthiest 50 % of the world population .The other half own only 1% of the world wealth !

77pc of adults – that’s 3.3bn people – have less than $10,000 .

To be the top 10pc of richest people – membership requirement is $77,000 – hold 87pc of the world’s wealth.

$798,000 is what you require to be in the top percentile of the world’s wealthiest. 1 % accounts for almost half – 48.2pc – of global assets.

This report I found very interesting / scary .

 

Tony Evans

Tokyo

World investors more bullish on Japan than any other country : Abenomics 2 – 0

abe

Investors are more confident in a Japanese leader than any time since at least September 2010, with optimism about Prime Minister Shinzo Abe’s policies exceeding that for counterparts in the U.S., Europe and China.

Japan offers one of the top two opportunities globally in the next year,
according to 33″ of respondents, up from 21% and beating China for
the first time in surveys dating back to 2009. Considering Japan is one of China largest investors that does make sense !

As I mentioned in January Prime Minster Abe is effectively creating his war cabinet on deflation , last piece is the win the up and coming elections .

What Abe has done is creating a change in the Japanese mind set , but also he has also changed the perspective of Japan on the global stage .

May this continue for a long long time .

From a very optimistic Tokyo ,

 

Tony Evans

http://www.bloomberg.com/news/2013-05-16/japan-becomes-most-favored-nation-in-poll-showing-abe-optimism.html

http://redd.it/1ehlku

Italy credit downgrade – uncertainty of election result

On Friday Fitch downgraded Italy’s sovereign debt rating by one notch to “BBB+” from “A-” , also stated the outlook is negative .

The problem is the election didn’t have a clear winner and as such no new Government could be formed .
One thing markets hate more than anything ells is uncertainty .With good reason Italy is the 8th largest economy by GDP in the world but is the 3 largest issuer of sovereign debt ! This year Italy has $414 billion in debt maturing and needing finance ! Thus the uncertainty will possibly increase interest rate it need to ay on its debt , diverting billions of much needed money from the economy to debt payment .Fitch noted it expected Italy public debt would peak at 130% of GDP increased from previous estimate of 125% . An extra $100 billion! The financial crisis has desensitised people of the magnitude of a billions ! The media talk today as its not a big thing !

Fitch noted that Italy’s ongoing recession “is one of the deepest in Europe,” and warned that “the increased political uncertainty and non-conducive backdrop for further structural reform measures constitute a further adverse shock to the real economy.”

Reminds me of quote by Adam Smith :
”It is the highest impertinence and presumption… in kings and ministers, to pretend to watch over the economy of private people, and to restrain their expense… They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expense, and they may safely trust private people with theirs. If their own extravagance does not ruin the state, that of their subjects never will”

Tags : Europe , credit downgrade ,Fitch , GDP , Italy ,Election ,Adam Smith

%d bloggers like this: