Super-wealthy cutting back?

Oh, wouldn't that be grist for one of those vapid AOL headlines. As in, things are so bad that even rich people are pinching pennies. Truth is, the signals are truly conflicting. Tiffany had a decent January, but that same month Ferrari sales plummeted 22 percent. Ferrari? Don't they appeal to the super-rich who pay no attention to economic bumps in the road? Not to worry, says a spokesman for the car company. Strong sales last year simply reduced inventory, and you don’t just make one of these babies in five minutes. There’s a waiting list of between 18 and 24 months. All right but why were January Jaguar sales down 52 percent and BMW sales down 27 percent? Perhaps what’s really happening is a split between the super-duper rich and the let’s-pretend rich. When times are good, it's a lot easier to play act. That's when lenders act like idiots. (Wealth Report)