Re: RECESSION HITS the WEALTHY! More Economic Slowdown Predicted for Midyear!
by "W. Wells" <otf70@[EMAIL PROTECTED]
>
May 4, 2008 at 07:10 AM
There is wealthy and there is wealthy.
"Fed Up in L.A." <notone@[EMAIL PROTECTED]
> wrote in message
news:9ZfTj.2075$3O7.303@[EMAIL PROTECTED]
>
> "Chemical Ali" <kinkysr@[EMAIL PROTECTED]
> wrote
>>
>> Lexus, Mercedes Sales Fall in U.S.
>>
>>
>> U.S. sales of luxury auto brands including Toyota Motor's Lexus and
>> Daimler's Mercedes-Benz fell in April, adding to evidence that the
>> economic slowdown is causing even wealthy buyers to curb spending.
>
> No. Many buyers of BMWs, BENZ, and Lexus the last few years have been
> very middle class people who bought those cars using HELOC money or easy
> finance money. They made these dumb financial moves so that they could
> impress people they never even spoke to. Now that the easy credit is
> gone, people have to live within their means. I doubt that the
"wealthy"
> will be curbing their spending any time soon. The Wa****ngton Post
writer
> should have known that.
>
>