Credit Crunch Sends Shivers Across Nanny Market
Watch out Mary Poppins, the hurricane howling through the world's financial markets is starting to be felt in the rarefied world of the British nanny. While she said she had not yet seen a flood of nannies looking for work, Julie Bremner, owner of Knightsbridge Nannies expected it come in the near future. "It will happen, but not yet. I expect a rush of nannies coming onto my books -- which is great for my clients because we have always had a supply problem," she added.
As Times Turn Tough, New York's Wealthy Economize
The financial crisis on Wall Street has New York's well-to-do reeling. The people who fuel the area's economy with their spending on art, fashion, cars, restaurants, plastic surgery and other luxe goods and services are starting to cut back once-lavish budgets. As a result, those who cater to their every whim -- from nanny agencies to jewelers to yacht builders -- are seeing clients tighten their belts on expenses from the millions to the thousands.
6 comments:
Regarding the second article, I think it is obscene that people live like that...my mouth is still open. Wow, I can truly say I have no desire to be among the uber-wealthy as described in that article.
I think they'll somehow pass it on like giving smaller tips, etc. Anything so it affects them less.
I read an article today about another effect of the crash: strip club attendance has dropped by 50%.
lol
I just hope they don't retrench their nanny...hee hee
How ostentatious some of those people in the second article are. Poor little rich people, haha! Discount nose jobs? I'll bet Mrs. Asher's daughter feels so cheated compared to her siblings full-priced nose jobs.
I have the feeling that the types in the second article will not go so far as to "stoop" to doing their own childcare...but, as it mentioned, they may try to get that childcare for less. Everything is going to start going for less.
It always makes me cringe when I hear people from more modest incomes (as happens so much more often in an election year)really eager to stick it to the super wealthy, or looking for ways to take the money out of their hands (presumably thinking it will somehow find it's way into theirs instead? Or maybe just wanting to have the satisfaction of seeing the guy who seems to have it all hurt?)
Because this is the ultimate result. It hurts everybody, right down to the ones so eager to see those high rollers hurt. Hurt them financially and they start they keeping their money in their pockets...which drives the market down in every possible way and causes an overall loss of jobs. People work at all of these big companies that are going out of business. And small businesses, forget it. We will all hurt in the end, one way or another. And who will hurt the least in the end? The super rich. Sure, they may walk around with ugly noses a little longer, or GASP have to wear last year's tiara, or slum it on the old $12,000,000.00 yacht...or give thier kids a subpar nanny...but they mostly won't worry about losing their homes, or whether Johnny can go to college next year, like everybody else in the middle.
You know what they say...be careful what you wish for, because you just might get it.
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