So, the rich are suffering too:
Then, add the living expenses:
Conclusion? Well, maybe these people will have to learn to do the stuff they have outsourced to other people. If anyone has any doubt that we are in a service economy, just look at these expenses: it is wealthy people outsourcing largely non-manual labor and paying for a range of services unavailable to most. No doubt that catering to the needs of the wealthy has been an expanding economic sector. At the same time, it is hard to feel bad that some of them will have to cut back on personal training, vacations and other luxury.
Not only that but as much as they might suffer, they still have enough to weather the bad economic times. Most are not so lucky… and that is if they suffer at all. According to Le Monde, wealthy people spent €206 million just on the first day of the auction of the Bergé-Saint Laurent collection. These buyers do not seem to be feeling the crunch. So, who’s buying?
Fortunes beyond anything one can imagine and unlimited budget. These people are discreet and refused to be photographed and they comprise the richest 200 fortunes on the planet. They are bulimic buyers and already own so much that they have lost all sense of value, according to the auction manager. They buy entire collections to display them on huge yachts on which they spend three days a year. So, because it deals with the richest of the rich (Richistan), those who are largely unaffected by the vicissitudes that affect mere mortals, the market for art is also largely unaffected by the economic crisis: if something is put on the market, it will find a buyer.
They are David Korten‘s Cloud Minders. They are protected from structural violence even though they may have contributed to the current conditions. Again, social privilege means not having to live in the risk society of one’s design.