Conspicuous Consumption

According to the 2007 Wealth Report, there are more millionaires than ever. (WSJ).  The report also examines the growing concentration of wealth by the super-wealthy.  So, apparently, the rich are getting richer.

As the market worries about recessions, inflation, the strength of the Dollar, and the price of oil ... I noticed a strange focus on conspicuous consumption. Here are some of the articles that prompted this post:

• Lexus LF-A supercar priced from $200,000 to $265,000 (AutoBlog)
• Eton's "World’s Most Expensive Shirt” costs $44,740 (Trendhunter)
• Don't Get Wet; Davek's $149 Umbrella will protect you from the rain (Davek)
• Wall Street joint serves up a $175 Burger (CBS News)
• For $150,000 You Can Have a collection of 50 Visionaire Magazine issues. (WSJ)
• Flushing Money Away on the Million-Dollar Bathroom (Barron's)
• The first Billion-Dollar Home (Forbes)