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http://useconomicoutlook2013.com/ This website strives to keep the readers stay updated with all the recent updates within the financial arena. Many of the investors have benefitted themselves by being in regular contact with our frequent newsletters and article releases.
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  • America Today: The Rich Get Richer, The “Working Poor” Become Problematic 0 comments
    Mar 22, 2013 1:35 AM

    Read More : http://www.investmentcontrarians.com/stock-market/america-today-the-rich-get-richer-the-working-poor-become-problematic/1718/

    The Dow is at a record high, and there is rejoicing on Wall Street in reaction to the stock market rally. In fact, the stock market rally appears to have made more people rich. A total of 300,000 newly minted millionaires were created from the current multiyear stock market rally, according to Spectrem Group. (Source: Frank, R., "US (and Booming Market) Adds 300,000 New Millionaires," CNBC, March 19, 2013.) This is great news for the new members of the $1.0-million club (excluding primary residence), but the reality is that there continues to be a mass of Americans collecting food stamps-around 48 million according to USDebtClock.org-and they have not reaped any rewards from the stock market rally.

    The headlines commenting on how America is becoming richer are myths; that is, unless you don't care about the other 95% of Americans who are just getting by and the bottom rung of this group who are considered America's poor, making minimum wage.

    The Article : America Today: The Rich Get Richer, The "Working Poor" Become Problematic Is On investmentcontrarians

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