As I sit and write this, Forbes magazine talks about who they think the next trillionaire is going to be. I should probably stop visiting the Forbes website. But you know what they say. Know your enemy…
BUT it’s not just them. There are all kind of predictions going on. The Global Wealth Report from Credit Suisse reckons there will be 11 trillionaires within the next two decades1.
They have the nerve to say it’s not a ‘prediction’, they make one, and then call it their best estimate. Nice.
Two generations ahead, future extrapolation of current wealth growth rates yields almost a billion millionaires, equivalent to 20% of the total adult population. If this scenario unfolds, then billionaires will be commonplace, and there is likely to be a few trillionaires too – eleven according to our best estimate. [source]
So. What do I think about that annual report? Firstly, as far as annual reports go, I think it has a beautiful design. I used to look at the numbers first, now I look at the design.
Getting back on track, the trouble with traditional economics is that “shit happens”. If shit didn’t happen, dinosaurs would still be roaming this Earth. Even they weren’t so bold as to make predictions.
You know the thing about predictions? Predictions are unpredictable.
I think it’s more than a little naïve to think that [Read more…]