Us Millionaires Are Too Damn Rich

From the Wall Street Journals blog, a report of a report on worldwide wealth:

Millionaire households (those with $1 million or more in assets under management) represented 0.7% of the world’s total and owned $33.2 trillion — or about a third of the world’s total.

I shouldn't claim to be a millionaire by this definition (though if you include the value of the house...). But it's obscene for less than 1 percent of the population to own a third of the wealth. (Remember this post when I appear to be moving rightward.)