When the economy gets worse, people tend to spend on things that can bring them extraordinary experiences. In this situation we can see a rise in sales of hyper-expensive items, even while people cut spending on daily necessities.
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Toshihiro Nagahama, chief economist at Dai-ichi Life Insurance Research Institute Inc. Despite two decades of economic stagnation, Japan remains a lucrative market for the luxury carmakers like Ferrari. (Bloomberg)
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gaijinfo
When the economy stagnates, rich people are still rich. It's the wage slaves that take it on the chin.
-1
kaminarioyaji
This quote would have been easier to swallow had the speaker not chosen a such a ridiculous example of what people might buy.
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Thomas Anderson
Doesn't the high yen also count for this.... hmm. And didn't the Japanese people in the 80's bought a lot of expensive things?
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