Slowing Economy Now Affecting the Rich

Interesting little article from Bloomberg on the slowdown in the economy and its affect on the rich. According to the article, “Affluent consumers, pinched by shrinking stock portfolios, falling property values and smaller bonuses, are behaving like their less-well-off peers: They’re reining in spending.” The rich have long been a bell weather of sorts for the economy and this latest news supposedly signals that things have made a turn for the worse.

Just another story in a long string of bad news that keeps rearing its ugly head. Perhaps that recession is closer than we think…