Here’s a good reason to take pride in America: we created 1,200 new millionaires every single day last year. That’s 440,000 new millionaires in just one year, fueled by a booming stock market. No other nation creates opportunity and wealth like the United States.
- Rising stock prices do not necessarily mean we have more wealth. It can just means we assign a higher price to the wealth we have. That can be due to inflation, an asset bubble, or both. – Peter Schiff
- When you expand the money supply, asset prices tend to rise. If you already own stocks, real estate, or businesses, your net worth often climbs. If you don’t own appreciating assets and you’re just saving dollars, you fall further behind. The money printer doesn’t enrich everyone equally. It redistributes wealth toward asset owners and away from wage earners and cash savers. – LG
- The middle class is shrinking not because people become poor, but because people are getting richer and leaving it on the upside. This is a superpower of America and the American Dream. – Peeves
- That’s deceptive. A couple decades ago they would only have $250,000. The expansion of the dollar and regional inflation is making the term millionaire meaningless
- America created 440,000 new millionaires as asset prices boomed. Meanwhile, UBS says median U.S. wealth fell nearly 20% since 2020 after inflation. That isn’t broad prosperity. It’s a rising market enriching asset owners while typical Americans fall behind. – Markle
