The Real Housewives of New York...Recession? What Recession?

Hello, my name is Katlyn, and I am a Real Housewives addict.

So much so that on a recent trip to the big apple, I begged my mother and aunts to make the trek to the upper east side to visit Zarin Fabrics, the family business of my very favorite housewife, Jill Zarin. (Even if Jill was not there, I would have settled for her little chihuahua Ginger, but we can talk about that later...)

This popular Bravo reality show follows a select group of high-end housewives from cocktail parties to shopping sprees, charity events to fashion shows, and chronicles all the drama in between. The Real Housewives of New York is currently on the air, with past seasons documenting The Real Housewives of Orange County and Atlanta. (The newest season, The Real Housewives of New Jersey premiers later this spring)

I think that aside from the cat fights and couture, the shows real draw is the fact that it offers us a peek into a world many of us may never see. The lifestyles that these ladies live are simply unimaginable, and for most, unreachable. It's just fun to watch, wish, and drool in envy.

Last night the drool dried, and I found myself actually reaching for the remote and changing the channel (gasp!) in the middle of the episode. Here's the rundown:

• In an interview with BBC News, Jill danced around the question of how the economy is affecting her with plugs for her charity events.
  
  
  
  
• After she already received a $16,000 handbag for her "downsized" birthday gift, Jill was surprised by her husband Bobby with a brand new Mercedes SUV. Minutes later, she was upset and unhappy because it was not compatible with her iphone. Bobby just laughed, and offered to get her a different car.
  
• Alex McCord-van Kempen also celebrated a birthday, and received $6,000 diamond earrings. But the gift giving didn't end there...hubby Simon then treated her to a one-of-a-kind couture corset...made from a feed bag...to the tune of $7,000.
  
  
  Handbags....ok.
  Diamonds, i would expect.
  But a $7,000 feed bag corset is where I draw the line.
  
  

  We are in a recession, and there are more people losing their cars, jobs, ( it was reported earlier this month that McCord-Van Kempen lost her Marketing position at Victoria's Secret) and the shirts off their backs, than there are living like the "Real" housewives.
  
  I would be lying if I said I am not going to watch the show anymore. I will. (In fact, I hope it's on when I get home. ) The difference is that I now realize that my beloved housewives are not just entertaining us, they are rubbing $3, 000 diamond encrusted salt into the working-class wounds of Real Americans.
  

  
  

  
  
  

The Credit Crisis for Dummies

For those of us who aren't economists, it's hard to know where to even start to conceptualize the economic mess we are in.

If you have 11 minutes, this can help:


The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

Why Can't There be More Jobs like This?

Don't let the economy get you down. The "best job in the world" is currently vacant and - you're in luck - accepting applications!

The Uncertain Future of Print Journalism

By Jamie Daniel, Advancement Associate at The Forum

The Tribune Company, which owns The Hartford Courant as well as The Chicago Cubs, 10 dailies and 23 TV Stations, filed for bankruptcy yesterday in an effort to buy itself more time to either save or sell its ailing businesses. Although other papers are experiencing tough times (even newspaper giant The New York Times is talking with lenders to help repay the staggering debt it owes) The Tribune Co. has been operating in the red for so long and spreading itself so thin with outsourcing that media experts and company insiders acknowledge that it will likely be close to impossible for them to recover, even with serious overhauling.

It's hard to know exactly what this growing instability of the medium, coupled with the economic crises, means for the future of print journalism. Buyouts are encouraging some of the best, most experienced (read: highest-paid) journalists to leave their papers, and those who remain are left to deal with job insecurity and low company morale. While journalism can certainly be effective, provocative and informative through the channel of new media - where costs are lower, advertisers are more easily enticed and news feeds can be updated in real time - I still feel an early onset of nostalgia for what hasn't even been lost yet. There is something so wonderfully serendipitous about reading the newspaper and stumbling upon an unexpected gem. The physicality of spreading out the Sunday paper, swapping sections and sipping a cup of coffee just does not translate to a laptop. Is this really the end, or can papers like The Courant rally, re-energize and bounce back? I'm keeping my fingers crossed for a rebirth.

Recession Confessions

This month, NPR is airing a series of Kitchen Table Conversations, sharing the stories of everyday Americans and how they are coping with the current economic crisis.

We want to know how you are handling it. Are you spending less? What are you cutting down on? What is the one thing you will not sacrifice or skimp on despite these tough times?

Here's what a few folks had to say...

I try to buy things I'll like and keep for a while (high quality and interesting). I'd rather buy a lot less and do that, than buy things I don't like. Drew, Lexington, MA

I am spending less. I’ve stopped going to restaurants and movie theaters. I have also been cutting down on clothing purchases. I haven’t been to the mall in weeks …quite shocking frankly! I am also really nervous about the holiday season and being able to afford quality presents for friends and family. I will never give up ordering pizza. Sarah, Hartford, CT

I’m a little embarrassed to admit this but I haven’t actually changed my lifestyle at all. I know people are hurting right now and that our economy is probably only going to get worse, but the reality for me is that I still consume the same amount of “stuff.” I still fill my cart at the grocery store and go out to eat a few times a week. I still buy clothes and other consumer goods. I haven’t been compelled to trade in my SUV for a Prius or turn my thermostat down to 58 degrees. Sure I’m frustrated with the increased costs of daily living, but not enough to change the way I live my life. Susan, Avon, CT

Yes, I am spending less, but not so much because of the economy. I’m cutting down on going out to bars and eating out at restaurants, but I will never give up my my DVR/HD on my TV. Chris, Burlington MA

I am spending less but this is really a function of paying for two kids in college more than the economy....even though assets we were counting on to pay for tuition have lost alot of value so we are using our savings and cutting back on vacations, going out to eat, home improvements, new cars etc......I will not cut out my wine with dinner. Vince, Hartford, CT

I almost never drive my car anymore, but this is easier for me since I live in a city. I give more money to homeless people. I see so many on the streets, and it's heartbreaking. Jerome, New Haven, CT

What about you?

Why Isn't Anyone Talking About This?

While it’s great that we’ve been seeing reduced numbers at the pumps these days, it’s troubling that gas prices are not being reduced at the same plummeting rate as crude oil per barrel. After all, when oil prices were rising this summer, gas prices rose steadily and accordingly.

The price of crude oil per gallon is down over 50% since July...



but the price of gas has gone from a national average of $4.11 per gallon on July 17th to a still-too-high price of $3.04. This is only a 26% decrease in price.

Someone is making money here, and it sure isn’t us.