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Old 05-02-2010, 07:55 PM
 
Location: Tribeca, New York City
44 posts, read 51,853 times
Reputation: 23

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So I was reading the Wall Street Journal and ran into these figures from the IRS, pretty old article, but...




21.1% decrease in wealthy from 2007-2008.

Wasn't Houston supposed to be the city that weathered the recession the greatest? It's strange how the industry most would think would have got hit the hardest (New York City with Wall Street) has the lowest percentage decline out of all cities.

And isn't Dallas allegedly wealthier than Houston? Why are they absent from this list?
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Old 05-02-2010, 08:01 PM
 
2,547 posts, read 4,050,730 times
Reputation: 3987
Why on earth would you think Wall Street would get hit the hardest? Those bankers walked away with millions while the economy collapsed around them. Educate yourself, young man.
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Old 05-02-2010, 09:40 PM
 
Location: Beautiful Downtown Rancho Cordova, CA
491 posts, read 1,261,245 times
Reputation: 402
Maybe Houston's wealthiest aren't in the top 1% that actually increased their wealth during the recession:

Top 1% Increased Their Share of Wealth in Financial Crisis - The Wealth Report - WSJ
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Old 05-02-2010, 09:43 PM
 
76 posts, read 268,798 times
Reputation: 23
Quote:
Originally Posted by bornrich View Post
So I was reading the Wall Street Journal and ran into these figures from the IRS, pretty old article, but...




21.1% decrease in wealthy from 2007-2008.

Wasn't Houston supposed to be the city that weathered the recession the greatest? It's strange how the industry most would think would have got hit the hardest (New York City with Wall Street) has the lowest percentage decline out of all cities.

And isn't Dallas allegedly wealthier than Houston? Why are they absent from this list?
You appear to be ignoring total population outright.
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Old 05-02-2010, 09:50 PM
 
Location: TX
867 posts, read 2,976,720 times
Reputation: 547
I don't pay attention to this sort of rubbish. One day society will transition from a monetary economy.
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Old 05-02-2010, 10:11 PM
 
Location: Tribeca, New York City
44 posts, read 51,853 times
Reputation: 23
Quote:
Originally Posted by matthou View Post
You appear to be ignoring total population outright.
This isn't about total population, it's about the wealthy.

"HNWI" = millionaires (excluding real estate).

Last edited by bornrich; 05-02-2010 at 10:19 PM..
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Old 05-02-2010, 10:26 PM
 
Location: TX
867 posts, read 2,976,720 times
Reputation: 547
Quote:
Originally Posted by bornrich View Post
This isn't about total population, it's about the wealthy.

"HNWI" = millionaires (excluding real estate).
Correction: A person's net worth can (and often does) include real estate assets, just not one's primary residence.
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Old 05-02-2010, 10:35 PM
 
497 posts, read 1,485,190 times
Reputation: 758
Quote:
Originally Posted by Alphalogica View Post
I don't pay attention to this sort of rubbish. One day society will transition from a monetary economy.
Sweet! Like the one in the Soviet Union, or maybe the one under Mao?

Oh! You mean like Star Trek?

Or maybe like in Mad Max - you know - simple barter without the hassle of a fiat currency. Damn - you might be right after all.
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