The Rich Will Keep Getting Richer Even In The Face Of A Recession
The Rich Will Keep Getting Richer Even In The Face Of A Recession, Especially In China, Credit Suisse Says
Chloe Taylor, Tristan Bove Tue, September 20, 2022
Even 2022’s eviscerated global stock markets and historic surge in interest rates worldwide won’t be enough to stop the millionaire mill from churning.
The number of millionaires in the world is set to hit 87 million by 2026, a 40% increase over the 62 million individuals with a net worth above $1 million in 2021, according to Credit Suisse’s annual Global Wealth Report, released on Tuesday, which found that global wealth growth is set to rebound despite a slowdown in 2022.
Emerging markets and middle-income countries will be the primary drivers of global growth over the next four years, the report found. Leading the pack in growth speed—despite years of COVID-related lockdowns and forecasts of a slowing economy—will be China, where the number of millionaires is set to double in the next four years.
The number of Chinese millionaires is set to grow from 6.2 million in 2021 to 12.2 million by 2026, the report said, a nearly 97% increase. While the U.S. is set to retain its throne as the country with the most millionaires in 2026—with 27.7 million—it will only be a 13% increase over 2021.
“We expect household wealth in China to continue to catch up with the United States, advancing the equivalent of 14 U.S. years between 2021 and 2026 to reach $119 trillion in real terms, similar to the United States level in 2019,” the report read.
In fact, the report said millionaires will be growing across the world, but it largely won't feel as good for them, thanks to inflation.
Inflation set to create millions of millionaires
In the Report, Credit Suisse predicted that the number of millionaires worldwide would exceed 87 million in 2026—up from 62.5 million in 2021.
However, analysts noted that millionaire status was becoming easier to achieve due to elevated inflation rates. “While some reversal of the exceptional wealth gains of 2021 is likely in 2022/2023 as several countries face slower growth or even recession, our five-year outlook is for wealth to continue growing,” Nannette Hechler-Fayd’herbe, global head of economics and research at Credit Suisse, said in the report.
The U.S. was still forecast to retain the world’s most millionaires in 2026, with Credit Suisse predicting 27,664 Americans would qualify as millionaires within the next five years.
View this interactive chart on Fortune.com
The number of millionaires calling the U.K., Canada and Japan home was also expected to increase substantially by the end of 2026.
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https://news.yahoo.com/rich-keep-getting-richer-even-163738655.html
What The Digital Dinar Means For Dinar Investors
The Dinar Den: 8-10-2026
For years, the Iraqi dinar (IQD) has been a subject of intense interest and speculation among global currency investors. While online forums are often filled with sensational claims of overnight riches and imminent currency revaluations, seasoned investors take a more analytical approach.
In a recent video from the popular YouTube channel The Dinar Den, Stephen—an entrepreneur and long-time Iraqi dinar investor—provides a grounded, realistic perspective on the current state of Iraq’s economy. Instead of focusing on unverified rumors, Stephen highlights a far more critical development: Iraq’s rapid transition toward a digitized financial infrastructure.
Ariel: This Timeline Now Makes Perfect Sense
8-11-2026
People keep this in mind. Under Article 70 of the Iraqi Constitution, major financial reforms specifically altering the exchange rate require a seated government and parliamentary consensus.
The factional disputes between Shia blocs and Kurdish parties over cabinet positions weren’t just drama; they were a legal blockade.
The Sept 30 Convergence
Iraq Is Considering Removing Zeros From The Dinar... Could This Be The Solution To The Liquidity Crisis?
August 9, 2026Last updated: August 9, 2026 The Independent – The issue of restructuring the Iraqi currency has resurfaced in economic discussions, coinciding with the government's liquidity crisis and its impact on financing public expenditures and delaying payments. While some economic experts are proposing ideas such as removing zeros from the dinar or issuing new banknotes, specialists warn against treating these measures as direct solutions to the financial crisis.
Good Morning Dinar Recaps,
BRICS Payment Networks: Cross-Border Connectivity Takes Shape
BRICS nations are exploring interconnected payment and CBDC systems that could gradually reshape how cross-border transactions move through the global financial system.
TNT:
Tishwash: Iraqi Parliament to Hold Two Legislative Sessions to Debate Key Bills
The Iraqi Parliament is set to hold two sessions during its current legislative term to consider a series of bills, proposed amendments and parliamentary committee reports.
According to the agenda issued by the parliament's Media Department, seen by PUKMEDIA, the first session will include the first reading of the Bill on Supporting Doctors (No. 36 of 2016) and the Bill on Granting Employees Extended Leave. Lawmakers will also conduct the second reading of the Bill on the Third Amendment to the Iraqi Jurists Union Law (No. 173 of 1969) and the Bill Amending the Lawyers Law (No. 173 of 1965).
KTFA
Monday Night Video
FRANK26…8-10-26….LET’S ROLL BANKS
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
International Experts Join Iraq Effort To Trace Stolen Funds
2026-08-10 Shafaq News- Baghdad US and other international experts specializing in tracing stolen or smuggled funds have arrived in Baghdad to support Iraqi efforts to recover public money, an informed source told Shafaq News on Monday, as the government presses ahead with its Dawn Crackdown anti-corruption campaign, launched on June 28.
Good Evening Dinar Recaps,
Hormuz Reopened Under U.S. Navy Control: Global Energy and Trade Enter a New Phase
Trump’s declaration that the Strait of Hormuz is open under U.S. Navy control could ease global energy fears, but normal commercial traffic still depends on unresolved U.S.–Iran conditions.
Rob Cunningham: What if Humanity was Given a Genuine Choice?
8-10-2026
What if humanity were finally given a genuine choice?
Not Left vs Right
Not capitalism vs socialism
Not one central bank against another
Something far more fundamental
Coffee with MarkZ, joined by Bob Lock. 08/10/2026
MarkZ Disclaimer: Please consider everything on this call as my opinion. Be sure to consult a professional for any financial decisions
MZ: Iraq's cabinet, Iran, and Bob Lock joins us to take your questions on Trusts.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Good Afternoon Dinar Recaps,
Oil Shock Meets Fed Uncertainty: Markets Reprice Inflation, Debt and Risk
Renewed Strait of Hormuz tensions are pushing energy prices higher just as investors prepare for critical U.S. inflation data and reassess the Federal Reserve’s next move.
Oil Prices Rebound Over Unsettled Hormuz Deal
2026-08-10 Shafaq News Oil prices rose on Monday as uncertainty persisted over the reopening of the Strait of Hormuz, with Iran saying the United States must meet several conditions even as Tehran and Oman moved into the final stages of agreeing on new shipping lanes. Brent crude futures rose 84 cents, or 1%, to $84.39 a barrel by 0424 GMT, while U.S. West Texas Intermediate crude futures rose 60 cents, or 0.75% to $78.77 a barrel.
TNT:
Tishwash: Iraq regains its seat at the world table... Baghdad is advancing in Arab diplomacy and international partnerships
In a new indication of the expanding Iraqi presence abroad, Iraq ranked 12th in the Arab world and 94th globally in a ranking that measures the level of diplomacy and the ability of countries to build international relations and partnerships, according to data from the American magazine "U.S. News & World Report" .
Iraq has moved up in the rankings, ahead of Lebanon , which came in 13th place in the Arab world and 96th globally, while the UAE topped the list of Arab countries, ranking 28th globally, followed by Kuwait, Qatar, Saudi Arabia and Bahrain.
Ross: All of this is Necessary Before the Revaluation of IQD
8-10-2026
Al-Zaidi is using the provincial coordination body to push land reform, electricity restructuring, fiscal caution, and service delivery while the regional environment is putting pressure on the budget.
All of this is necessary before the revaluation of IQD:
1. Executive procedures for the 1 million residential land plots project start 1 September 2026.
MilitiaMan & Crew: QD News Report | Breaking Down Today's Movements
8-9-2026
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
Will The Central Bank's Funds Be Sufficient To Cover Salaries? An Economist Explains.
Information/Baghdad...Economic expert Safwan Qusay clarified the Central Bank's ability to secure salaries for the upcoming period given the current circumstances.
Qusay told Al-Maalouma, “Iraq exports oil to the Turkish port of Ceyhan and 120,000 barrels per day via tankers to Banias in Syria, in addition to exports through the south towards the Strait of Hormuz, which approached 42 million barrels last July.”
Good Morning Dinar Recaps,
Japan’s Bond-Market Stress: Rising Yields Test the Global Debt System
Japan’s rising bond yields and shifting central-bank policy are exposing deeper pressures in sovereign debt markets and global capital flows.
"The Most Widely Discussed Scenario" Removing Zeros To Withdraw Looted Funds And Address Salary Issues... Experts Warn Against A "Makeover".
2026-08-09 | Baghdad - 964 Economic and financial experts are discussing proposals to solve the liquidity crisis and salary delays plaguing Iraq, most notably changing the currency and removing zeros from the Iraqi dinar, or introducing additional denominations that correspond to the noticeable expansion in the size of the circulating money supply.
KTFA
Sunday Night Video
FRANK26…8-9-26…..INCREDIBLE AND CREDIBLE
Intel Call with Walkingstick
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Ross: Iraq’s Oil is the Dinar’s Revaluation
8-11-2026
Iraq running on a 51 year old oil & gas law is actually crazy and so is IQD being worth $.00076.
It is a no-brainer for Iraq to finally pass the HCL and increase the purchasing power of the dinar.
Inevitable if Iraq is to ever prosper.