The old directional adage “Go West young man” seems to be truer today than ever and is no longer restricted just to men. A couple of recent BMO Bank of Montreal studies show that British Columbia and Alberta are home to some of the savviest and highest net worth investors in the country.
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CALGARY — Wealthy Albertans say they’re better off today than before the 2008 recession.
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Median household income in the United States declined for the second straight year, according to data released from the U.S. Census Bureau. Income was $50,502 in 2011, more than 8% below the 2007 pre-recession peak.
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Napoleon Hill, a Great Depression-era author and former advisor to President Franklin D. Roosevelt, decided more than 76 years ago to figure out the key to wealth.
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CALGARY — A Global Cities report ranks Calgary ninth in the world for economic prosperity and development with Ottawa-Gatineau getting the top rating.
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Ten states accounted for roughly 94% of all onshore U.S. reserves as of the end of 2011, with roughly a third of this in Texas alone — just over 7 billion barrels. In many of these states, the oil industry is a major part of their economies. Based on the U.S. Energy Information Administration’s data on proved oil reserves by states, these are the most oil-rich states in the country.
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As mentioned earlier, the US Commerce Department will soon release recalculated GDP numbers that will reclassify “intangible” asset spending as investment, particularly research and development spending. Also, as Bloomberg BusinessWeek notes, “intellectual property, original works of art such as films, music, and books will be treated for the first time as long-lived assets.”
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Is the American Dream dead? The vast majority of Americans born into poverty are unable to make much more than their parents. According to data released earlier this week from a study spanning three decades, Americans living below the poverty line had less than a 10% chance of making it into the top tier of earners.
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The role of luck in getting wealthy is no longer just an academic issue: it’s also a political one.
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The wealthiest 1 percent now control 39 percent of the world’s wealth, and their share is likely to grow in the coming years, according to a new report.