You can tell it’s a hard-hitting news day at TLPC when I’m mining a news item I saw yesterday. Then again, it’s from the Wall Street Journal, so it must be important, right?
I have another confession to make: When I can tear myself away from those adorable Shiba-Inu puppies, I’m currently transfixed by Bravo’s “Real Housewives of Atlanta”. Hoo-boy: Now THIS is craptastic TV at its finest. It’s hard to believe that anyone can spend the kind of money these women seem to on a daily basis, much less brag about it. I’m also fairly interested in what’s going on with their husbands — one of them is staging a NFL comeback, and another is in the process of retiring from the NBA due to career-ending injury. There’s a reunion show next week I’ll be watching if I’m on life support. (Think “Jerry Springer Show” in Dior and some show-stopping jewelry.)
What does this have to do with the article and the subject above, huh? There’s a woman on the above-mentioned program that was, allegedly, somebody’s mistress.
Let’s take a look, huh?
http://blogs.wsj.com/wealth/2008/11/18/rich-cut-back-on-payments-to-mistresses/
You know times are tough when the rich start cutting costs on their mistresses.
According to a new survey by Prince & Assoc., more than 80% of multimillionaires who had extra-marital lovers planned to cut back on their gifts and allowances. Still, only 12% of the multimillionaire cheaters said they plan to give up on their lovers altogether for financial reasons.
“Rich people are getting hit, and they’re all expressing the need to curtail unnecessary spending,” said Russ Alan Prince, president of Prince & Assoc., a wealth-research firm based in Connecticut. “Lovers are part of the same calculation.”
There is a limit to the whole “cutting back” thing, isn’t there?
Susan Shapiro Barash, who teaches gender studies at Marymount Manhattan College and wrote “Little White Lies, Deep Dark Secrets,” about why women lie, said women value their lovers more than men in a time of economic trouble. “For the women, lovers matter more than ever now because the rest of life is so dreary,” she said. “For the men, they’re just cutting across the board.”
Ms. Barash added that women may value their lovers more today because their husbands are so miserable. “If your husband lost his job on Wall Street and he’s miserable, you need the escape,” she says.
I never thought of it that way. Then again, I don’t have a private jet, black AmEx, $50,000 in plastic surgery… plus, The Dauphin hates it when I date.
The duration of the relationship also seems to play a role in the economics of high-end cavorting. The study found that more than two thirds of the millionaires who had been with their lovers for three or more years planned to cut back. That compares with less than half for those with a tenure of one to three years.
It’s important to keep things fresh, isn’t it?
Obviously, these people are adults. Their lives are their business. They’re free to do as they’d like. I did think it was interesting that the WSJ would find this such a phenomenon they’d write about it, though. I wonder to myself what kind of dollars extramarital affairs, especially those conducted by the extremely rich, put into our economy.
When I’m not spending thirty seconds musing on this one, the stock market made another precipitous drop today, millions are out of work, our economy is at a standstill, and Thanksgiving’s next week. It would be better to spend some time thinking about the things I’m thankful for this year, and I’ll be writing about some of those over the next few days.
-S