Capital Flight: Number of Millionaires in Britain Falls to Lowest Level Since 2008 Crash - breitbart.com

Capital Flight: Number of Millionaires in Britain Falls to Lowest Level Since 2008 Crash - breitbart.com

Source: breitbart.com

DW NOTE

Britain had 6.72 million millionaires in 2008. The number now stands lower, meaning sixteen years of monetary expansion, QE, and negative real rates didn't produce broad wealth accumulation — they produced asset inflation that benefited those who already had assets, while anyone starting from scratch paid elevated prices for everything. The millionaires who left took their capital to jurisdictions with lower tax burdens and more predictable policy. The ones who never became millionaires despite a decade of "stimulus" are still here.

Read the full story at breitbart.com →