Ultra Rich Continue to Spend
Economic slump or not, according to The New York Times the ultra-rich aren't slowing down on spending. This news follows right along with the current trend of contradicting reports we keep hearing, like the fact that luxury retailers are reporting steadily falling sales while private jet spending is holding steady or even going up but luxury car sales are down. So what is it, are the rich spending or aren't they? Or is it just that the ultra rich are still spending, but all those who are just "middle-of-the-road" rich are cutting back?