Category Archives: Finance

Live Simply So People Can Simply Live?


The slash and burn spending cuts that have been used to balance the budget will affect the low-income communities at first, then will gradually creep into the middle class arena, what is left of the middle class.

According to Moody’s the top 20% of the earners in the US account for 60% of all spending. MasterCard Advisors SpendingPulse, a research service states that the luxury category has posted 10 consecutive months of sales increase compared to last year. July alone had an 11.6 percentage increase.

Much of this spending on luxury goods is attributed to the Dow Jones being up by about 80 percentage from its low in March 2009.

Even Marked Up, Luxury Goods Fly Off Shelves

By STEPHANIE CLIFFORD
Published: August 3, 2011

Nordstrom has a waiting list for a Chanel sequined tweed coat with a $9,010 price. Neiman Marcus has sold out in almost every size of Christian Louboutin “Bianca” platform pumps, at $775 a pair. Mercedes-Benz said it sold more cars last month in the United States than it had in any July in five years.

Even with the economy in a funk and many Americans pulling back on spending, the rich are again buying designer clothing, luxury cars and about anything that catches their fancy. Luxury goods stores, which fared much worse than other retailers in the recession, are more than recovering — they are zooming. Many high-end businesses are even able to mark up, rather than discount, items to attract customers who equate quality with price.

“If a designer shoe goes up from $800 to $860, who notices?” said Arnold Aronson, managing director of retail strategies at the consulting firm Kurt Salmon, and the former chairman and chief executive of Saks.

The rich do not spend quite as they did in the free-wheeling period before the recession, but they are closer to that level.

Read the full article at The New York Times in Business Day.

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Christian Louboutin Bianca Patent Platform Pump
Neiman Marcus – $775     currently sold out

The shiny patent leather sheen gleams on this quintessential platform pump.

  • Patent leather
  • Low-dipped vamp for leg-lengthening effect
  • Almond toe
  • Leather lining; padded leather insole
  • 5″ covered heel with 1″ platform
  • Signature red sole
  • “Bianca” is made in Italy

About Christian Louboutin:

French designer Christian Louboutin introduced his namesake collection in 1991, and his powerfully feminine shoes soon became must-haves for stylish women everywhere.

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“Little Adults”


Mesmerizing and haunting photos by Anna Skladmann. “Little Adults” is a series that explores what if feels like to grow up as a privileged child in Russia. I thought about the wonderful Up Series of documentaries by Michael Apted that explores the socio-economic background of British children. It will be curious to see where these “Little Adults” end up in seven years.

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A Headset That Reads Your Brainwaves


Tan Le is the co-founder of Emotiv Systems. When the headset is plugged into the computer the player can control certain applications by using their mind and facial expressions. The EPOC headset sells for $299.
“We’re really just scratching the surface of what’s possible,” she says.

Some concerns expressed about this device can be found here.

Women2drive to get Wal-Mart


Women2drive protestThe recent protest on Friday by Saudi Arabia women in what the New York Times called “random acts of women driving” follows the May 22 arrest of Manal al-Sharif, a 32-year-old Saudi woman who posted a video of herself driving on YouTube. It is 2011 and woman still can’t drive a car nor get equal pay. The recent decision on Dukes v. Wal-Mart by the U.S. Supreme Court is a victory for Wall Street over Main Street at the expense of women.

Arcelia Hurtado, executive director of ERA, says after 10 years of taking on the world’s largest retailer, they’re not giving up. “The women [of Walmart] have been speaking for the rest of us for the last 10 years. Speak up for your rights. We won’t make progress unless people have the courage to stand up and speak out.”

The Rapture Rescheduled


 After The Rapture, Who Will Walk Your Dog?

 

Robert Fitzpatrick of Port Richmond, a retired transit worker predicted the Rapture for May 21 @ 6pm PST, as well did Harold Camping. Now that May 21st has past both men agree that they made a mistake and the true judgement day is Oct 21, 2011.                                                                                                                                     The good news in all of this is for the pets of these Christian’s who ran out of time to buy pet care insurance to make sure that their beloved critters got taken care of once they were scooped up off of earth.  See Eternal Earth-Bound Pets.

After The Rapture, Who Will Walk Your Dog? Listen to the Story