Despite rock-bottom interest rates for savers, many Germans still have a sheet to share – many of the Wealthy benefit, meanwhile, that their money is in securities. According to calculations by the Alliance, the German people have not given away in the last four years, a total of around 200 billion euros “to”, because they dared to enter the stock exchange.
About a third of the world’s five billion people in the Alliance countries studied, however, has no assets. The concentration in the hands of the wealthy to have so also due to the development of interest rates? The Alliance is at least as skeptical. “Our data do not allow us to conclude that the gap between the Poor and the rich globally and in the Euro area would become larger,” says chief economist Michael Heise.
Germany has, according to the study, in the distribution of questions since the year 2000, a stability without major changes. About 40 percent of the net financial assets then the assets of middle – class people with savings of between 7,000 and 42,000 euros, after deduction of the liabilities.
the”Creeping process of erosion of the middle”
The only location is in Germany. In the Euro countries Italy, Ireland and Greece, as well as in the United States, Japan and the UK, the middle class think much less of the total. The Alliance speaks of a “creeping process of erosion of the middle”. Worldwide, the middle class is growing – driven mainly by developments in Asia.
At the same time, the richest ten percent of the population in the Euro area, according to the study, are getting richer. The Metropolitan greater wealth in the hands of a few “leads to a growing dissatisfaction in the General population – the vote of the British to leave the EU, should also be seen in context”, argue the authors of the “Global Wealth Reports”.
Wealthy investors, the Central banks
The money of many Rich, often for the greater part in the form of shares and other securities. take advantage of the glut of money You benefit from the unprecedented money by the major Central banks in the world, which drives the prices in the financial markets glut. The leading German index, the Dax, about to put since November 2011, to well over 60 percent. The majority of the more stock exchange in scouring the German relies mainly on traditional Bank deposits (just under 40 percent of gross financial assets) and insurance and pensions (37 per cent).
About 9,01 million people had, according to the German share Institute in the past year, the shares and/or shares in a Fund. That was the highest level since 2012. In times of stock market boom around the turn of the Millennium, the number of shares the investor was in the Federal Republic, however, in the case of nearly 13 million.
real estate assets are not taken into account
Would be distributed to the Germans in the last four years, only percent of 30 percent of their assets in Bank deposits put in place of 40 per cent and the remaining 10 percent half and half to stocks and mutual funds, you could have been, according to calculations by the Alliance, in addition to approximately 200 billion Euro. Save entpuppe therefore currently mainly used as a cash Parking, and not as a to Invest.
was Not taken into account in the analysis for lack of comparable official data, the real estate. According to a study by the consultancy firm Capgemini, the significant increase in real estate prices with one of the biggest drivers for the growth in the number of Dollar millionaires in Germany in the past year.
Approximately 22.2 per cent of the money of the Rich, who have assets of more than a million dollars, is in Germany in real estate. Worldwide, there are, on average, only 17.9 percent.
“there are savers in a real Dilemma”
the effect of The ultra-loose monetary policy on financial markets seems to be gradually however. “In the stock and bond markets, the potentials are not as large as after the second half of 2011,” says Heise.
The result is that The growth of Money slowed in the past year in the world. The gross financial assets of private households in 53 countries rose 4.9 percent to a record level of 155 billion Euro. In the three years previously it had been an annual average of about 9 percent.
“loses, Obviously, the extremely expansionary monetary policy as a driver of security prices slowly to effect,” says Heise. “At the same time, interest rates slipping deeper and deeper until far into the negative range. The savers are in a real Dilemma”.
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