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Goldman Sachs says the falling stock market has super rich people spending less on yachts, jewellery and private jets

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'Equity price moves do have a meaningful effect on the spending of wealthy households,' Goldman Sachs economist Daan Struyven says.

 

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IndusTrainCons How on earth is the wealth meant to trickle down now?!

Better off buying some guillotine insurance.

Consumption is good. It creates jobs, stimulates economy, right? Unless of course someone thinks that $1 spent on burgers is worth more that $1 spent on yachts.

Sad!

Awe, I feel so bad for them.

Hannity was right!

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Stocks rise after strong earnings from Goldman Sachs and Bank of AmericaStocks rose on Wednesday as investors cheered strong quarterly earnings from major banks like Goldman Sachs and Bank of America. 'Investors' also cheered all of the earnings misses yesterday. Can you just start saying computers And now we’re back to greed, investors having no fear and trading the market up into overpriced levels again. Do traders and investors never learn. I think funds are replacing stocks sold in December and after this short buying period we’ll be heading down again. Hey it 2007 again.
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