Will the Stock Market Crash Wipe Out the Socialite?
As investment banks collapse, insurance firms file for bankruptcy, and jobs continue to be lost, it seems that New York socialites deserve some of the blame for jinxing the stock market.
On March 7, Arden Wohl, Derek Blasberg, Amanda Hearst, Claire Bernard and nightclub owner Simon Hammerstein rang the closing bell at the New York Stock Exchange--seemingly also ringing in the period of financial ruin that directly followed the ceremony, reports Cityfile, which even retrieved graphical proof.
We suppose that's what we deserve for allowing the party people of our city to handle such historically important tasks. But all of this also got us thinking. While Ms. Hearst's old money will probably keep her afloat in the coming year as the rest of Manhattan scrambles for financial safety, what about the socialites who might not have the cash to weather the form?
What if, on the other side of this financial crisis, Manhattan not only emerges as the cheaper, tourist-free, city it once was (as Fran Lebowitz hopes it will!), but also free of society's hangers-on whose frequents snapshots on Patrick McMullan merely accentuate their naked ambition.
Perhaps Maggie Betts was right all along when she told Vogue last month that the end of the revered socialite is near as the city gets ready for “something grittier and more real."
this isnt current! this is like fromm march! im looking for somthing that happened in septemeber 2008 or august 2008! seriouslyy~
How can it ever crash? The Treasury bails it out ever freaking time. Free economy, BS. I say let it crash and be done with and get rid of this freaking capitalism please. What a rip off for the majority of the people who work for a living. America has been duped into believing it is the best economic system going. Well, enjoy paying those hospital bills? Enjoy all the credit card debt? Can't make the mortgage payment this month? Read some Karl Marx, he is very relevant for the ills in our slavery to capitalism. It really is a failure! Let's bury it and get on with the joy of living.
People love to strut their stuff. They chose to build and to do art and to live. If the market crash of 1929 taught anything it was that adversity is the mother of the social butterfly, of invention and the 3D TV set. I can't wait for touch-o-vision by (inset game company name here) and the next wave of struting revolutionary. The rev' in Russia didn't get rid of socialites or bloodsuckers, it just chose one bolemic gray suited group over another. Market and social crashes are just that communal bolemia, a selection of the new philosophy or religion (Yea, uncaring politburo chief, bravo unethical Capitalist, march on un-Christ like Christian robots, fascism is great, jews are better, munks are the best, Stalinists rule, non-muslems suck, etc.). You purge, you sober up a few, a few get the new ethic or religion really bad (march with us comrade, lets kill a few more unbelievers) and next week we start a new lemming march toward a new multitiered heirarchy of dispair. Plus I get to drive your car before I blow it up.
Richard Neva when you don't have any money to spend & have to pay 12$ a gallon for gas you'll be ready to vote Republican.We are in motion to becoming a communistic nation.Is everone so stupid they can't wake up to smell the coffee ?We need to drill for are own oil & stop paying such an outragious price to someone that dosen't even like us.Do you ever think about the Great Depression of 1929,because we are looking at another one on the way.The dollar has been devaluated,and it cost an arm & a leg to survive.Go Figure...
You have never been anything but a slave. Slavery was outlawed, but they replaced it by allowing illegal aliens over to work for slave labor and then outsourcing the middle class Americas manufacturing jobs. The health care system is a joke and a revolution should occur based on this alone. I hope all the elitist who served money over people all jump out of a window now, you all deserve it. I hope the world is reshuffling the deck when this stock market crashes.
It's all BS, there is no possible way that the stock market will ever crash like it did back in the time of the depression. The government has every thing set up so that will never happen. The government just wants everyone to believe it's possible so that one day they can get up on a podium and say the stock market crashed when in actuallity it didn't. Once having said that the entire government will steal all that money just like what Bush did with all the gold that was at the World Trade Center.