The Luxury Recession

Stop crying in your last Old Mil, things are tough all over, even for the rich.

Fortune magazine has compiled this tear-jerking list of economic sacrifices the nation’s wealthy are being forced to make as the much-feared recession takes hold. Posh hotels, puveyors of prime steak, yacht dealers and others are all taking hits.

But I don’t care how bad it gets. I’m keeping my pastry chef and sommelier.

Recession be damned. We’re not savages.

 

 

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4 Comments

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4 responses to “The Luxury Recession

  1. Rodger

    You want to get real on a subject….Hy Vee (Marion specifically) Advertises their weekley specials:… IE: Strawberry Pie!!!! Guess what!!!! YOU CAN’T GET ONE!!!! My wife went up there, today 4/7/ 98 (And we live 3 houses away, the pie is GREEAAATTT! Makes your toenails curl up just thinking about one!!!!) None on the shelf for sale!!… When she asked the clerk about the lack of product availability, she received a really snotty response!!!! And the added caviate….We Only Make Two A Day!!! WHHHAAATTTT!!!! Do You have a new definition of false advertising or does two of an advertised item make it OK??????

  2. Doug

    Wow. Spelling makes a difference. I guess we don’t expect perfection, but at least a half-hearted attempt would be nice.

    And, a recognition that we are in the 21st Century rather than the 20th. Maybe that’s why you couldn’t find the item you were looking for, McFly.

  3. Investor

    I know the wealthy might not be able to afford these “toys”, but look at it from the other side! Often times businesses are selling these items, have to borrow money to sell these items, and often make no where close to what their clients do per year! People create businesses that cater to specific demographics and succeed. But, just because they own a car lot does not mean they could afford to pay for every car on the lot; they borrow.
    Do a story about business owners… small, mid size, and large companies. And, see what the owners are really taking home compared to their annual gross.
    Just my two cents….

  4. Technically speaking, a recession hasn’t even begun to “take hold.” Recession, by definition, is two (or more) consecutive quarters of GDP decline. The last measured quarter had slight GDP growth.

    But I know what you are talking about. You can have a slowing of growth in the economy that affects and troubles people – we just don’t have a great word for it, except the very vague “sluggish.”

    Problem is, sluggish can apply to a slow growing economy, or a slow shrinking economy, so it isn’t much better.

    I suggest a new term: a “two strawberry pie” economy.

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