The Gap Between Rich and Poor May Be Reaching Its Peak
- Gap between rich and poor may fall if equity prices curtailed
- But millenials face ‘perfect storm’ that most won’t overcome
Pedestrians walk along Wall Street near the New York Stock Exchange (NYSE) in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The gap between rich and poor may be reaching its peak.
In a report Tuesday on global wealth, Credit Suisse Group AG noted a shift away from equities and other securities to physical assets like property. That may be a harbinger of a return to the broad-based wealth creation that characterized the years before the 2008 financial crisis, when most levels of society benefited from economic growth, analysts at the Swiss bank’s Research Institute said.