Unemployment in the United States might be around nine per cent, and record numbers of Americans are on food stamps. But one thing you can be sure of there is that the rich are getting richer.
According to the Deloitte Centre for Financial Services, the total wealth of millionaire households around the world will grow from $92 trillion in 2011 to $202 trillion in 2020.
But most of them will be in America. Indeed, Deloitte says that by 2020, 43 per cent of the world's wealth will be concentrated in millionaire households in the US. The total wealth of millionaire households in the US is projected to rise from $39 trillion in 2011 to $87 trillion in 2020 and it will continue to be home to the largest number of millionaires, potentially rising from 10.5 million households in 2011 to 20.5 million households in 2020.
In other words, the number of millionaires in America will double over the next 10 years.
At the same time, the US continues to struggle, growing less than forecast and 14 million Americans unemployed by the official definition with millions more stuck in part-time work because they can't find full-time jobs.
If the Deloitte figures are right, the income gaps in America will get worse.
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