Blog: Dave LeggettSuper rich

Dave Leggett | 30 November 2007

I've started the day on an upbeatish note, fantasising about owning an Aston Martin over the usual extra strength two mugfuls of coffee (freshly ground beans, always). Interesting to reflect on the phenomenon of the 'super rich' and society's income distribution generally. There comes a point at which there are strains, but I guess there's an optimal balance that encourages the right amount of aspiration, entrepreneurial innovation and so on, without riots in the streets over the price of bread (or the value of pensions).

London is a city that, in the early part of this century, encapsulates the new wealth and the lifestyles of the super rich - but it's a global trend. There might not be all that many of them, but wealth attracts wealth and these people are needing to spend on luxury items. No wonder Aston Martin is doing so well (Kuwait to produce the Rapide?).

But the super rich might be due to be taken down a peg. House prices in UK are moving down and the credit crunch is still playing out in financial markets, the US economy is slowing down, Britain's to follow. Mind you, there are still the sporting superstars (or even just regular footballers on GBP100,000 a week), TV chefs and Russians to keep the Aston Martin orders coming in.

I believe Astons can be troublesome though. Might be better to have a Jaguar XK8 and save some money, while also perhaps having to endure less trips to the garage. Just who am I kidding?  I don't think I am excessively materialistic and there are much more important things in life, obviously, but it would be a duller world if there weren't things like Astons to momentarily fantasise about wouldn't it? 

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