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  • SUNDAY DECEMBER 19 2004 3:55 PM

2004 a Good Year if You're Rich

Submitted by catdad

Edited by Michael_J_Totten

As the economy continues to show little sign of improving for the middle-class and the poor, everyone can take heart knowing it has been a good year for the wealthy.

This holiday season, Vincent Cassanetti, 60, a wealthy retired business owner, is helping to keep luxury sales booming.

The Palm Beach, Fla., resident has spent $50,000 on gifts for his wife and children, including $600 shoes from Jimmy Choo and Chanel, as well as designer handbags, jewelry and clothing. That's up from about $35,000 a year ago.

"This is a really good Christmas," he said.


Luxury items are doing well with sales expected to jump 5% to 8% over 2003. However, the more common shopping destinations such as Sears, May Department Stores, and even Wal-mart are showing marginal gains at best compared with last year. This year the average person is spending a greater portion of their money on the higher cost of gas for their car, heat for their home, and health care.

While today's average pump prices of $1.84 is down nearly 20 cents a gallon from October, gasoline still costs 26 percent more now than it did a year ago. And the cost to heat homes this year could end up being 15 percent to 35 percent higher than last winter, depending on the weather and the type of fuel used, according to the Energy Department. Plus many shoppers are also faced with escalating health care costs and worries about jobs.


But hey, even if you aren't rich, you can still join in the fun.

[Jack Yeaton] wants the authentic big-ticket status items, even though he knows he can't afford them.

This holiday season, he has charged at least $2,000 on his credit card on gifts like a $850 Prada bag for his mother and $675 Fendi bag for his sister. He expects to pay off his holiday debt by the summer. Last year, he spent about $100 on each family member.

For himself, Yeaton splurged on a Prada sport jacket for $800, marked down from $1,050, and Prada loafers, reduced to $340 from $500. Those charges are on a separate credit card.

"I can't help but walk down the street and wish I was trotting around in Prada shoes and a Gucci suit," he said.

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Comments
poptard

poptard

United Kingdom
November 2003

DEC 19, 2004 04:02 PM

i dunno

still way cheeper then liveing the uk, even if you are one of the 'poor'

i though america didn't have class? or is it diffrent to the UK?

Mike11

Mike11

Titusville, FL
OLD SKOOL

DEC 19, 2004 04:13 PM

It has been a pretty good year for me as well. Not nearly as good as it has for the man above though.

freshprncebelair

freshprncebelair

Ellicott City, MD
June 2004

DEC 19, 2004 04:19 PM

The only thing that I really spend money on is my camera. Screw family and friends.

Clocknova

clocknova

Charleston, SC
March 2003

DEC 19, 2004 04:22 PM

Jack Yeaton deserves to be poor. Jackass.

Michael_J_Totten

Michael_J_Totten

Iraq
February 2004

DEC 19, 2004 04:25 PM

G1 said:
i though america didn't have class? or is it diffrent to the UK?


It's different. Our class structure is less rigid and more fluid, but the average person still doesn't move from one to another.

clownbarf001

clownbarf001

I'm lost
December 2004

DEC 19, 2004 04:35 PM

so in other words - 2004 is a good year for the businesses that cater to those who equate sentiment with over-priced/hyped gifts. I hate the fact that luxury(sp) items say more to ppl than the celebrations and the ppl they love. For every person that can afford the high end gifts - there are 20 other ppl who can't and buy it anyway. The sad part about Wal-mart doing so well has to do with the fact that they prey on small business. The local shops around here are going the way of horse drawn carriges.

Koenigsegg

Koenigsegg

I'm lost
July 2004

DEC 19, 2004 04:39 PM

my parents will be thrilled

randomcharacters

randomcharacters

I'm lost
August 2004

DEC 19, 2004 04:41 PM

Michael_J_Totten said:

G1 said:
i though america didn't have class? or is it diffrent to the UK?


It's different. Our class structure is less rigid and more fluid, but the average person still doesn't move from one to another.



No, no, he's right, americans have no class.

Pav

Pav

I'm lost
February 2004

DEC 19, 2004 05:53 PM

What year ISN'T a good year for the wealthy? confused

venomkid

venomkid

I'm lost
January 2003

DEC 19, 2004 05:55 PM

Pav said:
What year ISN'T a good year for the wealthy? confused



1929

EndedBen

EndedBen

Grand Rapids, MI
August 2004

DEC 19, 2004 05:57 PM

venomkid said:

Pav said:
What year ISN'T a good year for the wealthy? confused



1929



Bwa ha ha ha ha! Right. wink

YAWG

YAWG

Victoria, BC
November 2003

DEC 19, 2004 05:57 PM

venomkid said:

Pav said:
What year ISN'T a good year for the wealthy? confused



1929



biggrin

punk

punk

Phoenix, AZ
January 2004

DEC 19, 2004 06:09 PM

"I can't help but walk down the street and wish I was trotting around in Prada shoes and a Gucci suit," he said.



Someone needs to re-think his priorities in life.

Lain

Lain

Astoria, NY
April 2004

DEC 19, 2004 07:33 PM

Pav said:
What year ISN'T a good year for the wealthy? confused



Or how bout...

"What year isnt a good year to those who strive for success become succesfull and rake in the cash due to hard work and effort over a lifetime."

Serisouly... The poor and middle class can to. Takes a little determination and walla!.

you to can make thousands of dollars a month by placing adds in the newspaper.

biggrin

[Edited on Dec 19, 2004 10:33PM]

Manchester_Black

Manchester_Black

Edmonton, AB
March 2004

DEC 19, 2004 07:46 PM

Lain said:

Pav said:
What year ISN'T a good year for the wealthy? confused



Or how bout...

"What year isnt a good year to those who strive for success become succesfull and rake in the cash due to hard work and effort over a lifetime."

Serisouly... The poor and middle class can to. Takes a little determination and walla!.

you to can make thousands of dollars a month by placing adds in the newspaper.

biggrin

[Edited on Dec 19, 2004 10:33PM]



You can't forget the ones who are lucky enough to be born to parents of incredible wealth who do not have to work a day in their life and will have more money than a person born to poor parents who works 60 hours a week.

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