05 August 2008

Monocles and Luxury Yachts on a Downward Trend

It's not just working stiffs that are feeling the pain of the economic downturn, rich people are spending a lot less on cocaine and caviar too. From AP (by way of Reason):

It may have taken longer and it may not be as acute, but there are early hints that the economic slump is crimping the lifestyles of the wealthy.

They are investing more conservatively, spending less on luxury goods and are being more thrifty with their credit cards. Many are asking their personal shoppers and private-jet travel providers to seek the best deals rather than over-the-top extravagances.

The AP article goes on and discusses the "Trickle Down Economics" which will ultimately affect everyone else in America. IMHO, it's pretty depressing that the structure of our economy is based on party girl heiresses schlepping out money for Prada handbags and private parties in NYC. I'm also reminded of the Tyler Durden quote "Fuck off with your sofa units and strine green stripe patterns, I say never be complete, I say stop being perfect, I say let... lets evolve, let the chips fall where they may."

I'm certainly not anti-business or anti-corporate, as I understand the benefits of mass production so that we're not all tilling the land with oxen and kicking the bucket at the ripe old age of 25, but consumerism has run amok in America. Most people are hopelessly in debt in their endless quest to strive for a life conjured by advertising companies as "ideal", and television plays host to this endless consumption of resources in glitzed up shows like My Super Sweet 16. Do we really need to buy all this bullshit? Scrap the Yacht outing, and read a fucking book in the park for godsakes.