Saturday, July 14, 2012

SPEND, SPEND, SPEND

All over the world capitalism is experiencing an economic recession. Even formerly booming Japan is feeling the pinch with markets in free-fall. Amidst this period of uncertainty and fear there is of course one section of the population that continues to spend, spend, spend as usual. "An apartment that is believed to be the most expensive one-bedroom property in the world is on sale in Tokyo with a price tag of a cool Y1.8 billion (£14.72 million). .... The price means that 1 square foot of the property costs £3,320.33. The owner of the penthouse apartment – whom Sotheby's would only identify as a successful and married businessman – spent 18 months completely refurbishing the property from a four-bedroom family home." (Daily Telegraph, 13 July) The owning class continue to indulge themselves no matter the economic world climate. RD

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