Saturday, October 17, 2009

More Good News for Rich People!

Bloomberg is reporting that luxury spending is up!

Spending among 1,067 consumers with average annual income of $228,800 rose to $18,826 each in the three months ended in September from $14,554 a quarter earlier, the Stevens, Pennsylvania-based luxury-market research firm said today. Shoppers cut spending by 3.2 percent in the second quarter and spent $13,429 in the third quarter of 2008...

The highest-income group spent an average of $43,111 in the latest quarter and the lowest-income group tracked, with earnings of $100,000 to $149,999, spent $10,423.

Of course if you're not a rich person, the news is a bit different. The Consumerist reports that Colorado is the first state to actually decrease its minimum wage, from $7.28 to $7.24, and Social Security recipients will not be receiving their routine cost-of-living adjustment, or COLA for 2010.

In the off chance that you are more affected by the latter than the former state of the world, and you're not in a position to spend $43,111 on travel and spa treatments, the Daily Green is running an article today that will teach you how to make your own skin care potions out of stuff from your kitchen. If anyone asks why you have onions and oatmeal on your face, tell 'em you're not broke. You're eco-savvy.