Breaking: Rich Are Rich Again, Poor Still Poor


Remember when the recession first happened and everyone was like, Whoa. This is such a reality check! We are not going to live the same way as we used to! From now on, Everything Will Be Different. As it turns out, that was pretty much the same as saying irony was dead after 9/11. From Bloomberg:

"Sales are up at Tiffany & Co. and Coach Inc., buoyed by demand for $6,000 diamond pendants and $1,200 leather handbags as a stock-market surge pads the wallets of the wealthy. At the other end of the economic spectrum, Wal-Mart Stores Inc., the world’s largest discount retailer, reports 'everyday Americans' are living paycheck to paycheck as they await an improvement in job prospects."

The "new normal," it turns out, is pretty much the same as the old normal.

The Rich Go Spend But With Little Help From Middle Class [Bloomberg]