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Even the rich are cutting back ... says the NY Times

Last post Sun, Jul 18 2010 6:37 PM by Becky. 2 replies.
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  • Sun, Jul 18 2010 4:53 PM

    Even the rich are cutting back ... says the NY Times

    Dear All, Here's a story from yesterday's paper (7/17/10) abooout how even the very affllluent are belt-tightening in their rarefied ways! (They are budgeting on luxuries!) http://www.nytimes.com/2010/07/17/business/economy/17consumers.html?_r=1&emc=tnt&tntemail0=y *** Yours in Him, Deborah & Heart
    Officially Recognized Stretchpert in Government & Charity Assistance

    Proud guardian of Heart, a black female Miniature Poodle, a Psychiatric Service Dog

    Enter His gates with thanksgiving, His courts with praise; give thanks to Him, bless His Name. (Psalm 100)

    Yours in thrift, Deborah

  • Sun, Jul 18 2010 5:56 PM In reply to

    • gayla50
    • Top 10 Contributor
    • Joined on Mon, Sep 24 2007
    • Western North Carolina
    • Posts 8,491

    Re: Even the rich are cutting back ... says the NY Times

    there are still alot of problems  DH and a friend who a realator went around the lake there are 14 forecloser and 9 more that will be foreclosed the end of the month this part of the world not showing any recovery yet


    Officially Recognized Stretchpert in Frugal Food and Cooking and in Slow Cooker Foods

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  • Sun, Jul 18 2010 6:37 PM In reply to

    • Becky
    • Top 100 Contributor
    • Joined on Mon, Apr 23 2007
    • Posts 574

    Re: Even the rich are cutting back ... says the NY Times

    It is still bad financially. We live on a hill that has half a dozen sub-divisions on it. The higher you go on the hill the more expensive the homes. In the two sub-division directly up the hill from ours there are many homes for sale or being foreclosed upon. People do not have a lot of money to spend in general and also people are working hared to hold onto what money they do have. There are more staycations going on. We are not rich by any means but we are not going out of town for vacation. We are going out of town for a few weekend between now and September. Our son works for a hotel so he is able to get us great rates for our room. for each of these trips. We will be taking a cooler with sandwich fixins', snacks, fruit and drinks. For each of these weekends we will be spending about $300 and that includes gas. We just do not want to spend a bunch of money. We are working on slaying the debt dragon, and that is what is important. So if we at our level are feeling the pinch, why would the wealthy not feel a pinch too. The more you make the more you tend to spend.

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