http://www.luxist.com/2008/04/14/ultra-rich-continue-to-spend/ Luxist Comments for Ultra Rich Continue to Spend http://www.luxist.com/media/feedlogo.gif http://www.luxist.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/http://www.luxist.com/2008/04/14/ultra-rich-continue-to-spend/http://www.luxist.com/2008/04/14/ultra-rich-continue-to-spend/
In other words, secretaries have stopped buying $2k handbags or $500 shoes on credit. And all the people that were using their homes as piggy banks are tapped out.

People with real money will continue to spend. Then again, they aren't buying mass market stuff like Gucci or Vuitton. They are buying Goyard. Or, more likely, they are living modestly and spending 50-100k/year on their child.]]>Apr 14th 2008 8:01PM