The recession did hit the market but it could not affect the rich in the businesses. The world’s ranks of millionaires rose 17%to 10 million in stock market. The growth graph was highest in countries like India and China along with Brazil. The millionaires from these places could now match the ones in Europe in terms of wealth.
This recession was caused by the rich bankers (private sector)and it is the puplic sector that has to take the brunt of the cuts to try and pay for it that is why the rich will not be affected by this recession