Credit Suisse [pdf] appears to celebrate the growth of wealth, in the United States and around the world, during the last few years.
But the investment giant also sounds an alarm concerning the growth in the ratio of wealth to income:
For more than a century, the wealth income ratio has typically fallen in a narrow interval between 4 and 5. However, the ratio briefly rose above 6 in 1999 during the dot.com bubble and broke that barrier again during 2005–2007. It dropped sharply into the “normal band” following the financial crisis, but the decline has since been reversed, and the ratio is now at a recent record high level of 6.5, matched previously only during the great Depression. This is a worrying signal given that abnormally high wealth income ratios have always signaled recession in the past.