Times are hard for some sections of the capitalist class as markets crash and profit margins shrink, but there is one section of the exploitation machine that is doing very well. "Tiffany & Company's net income rose 30 per cent in the second quarter, propelled by strong growth across all regions as high-income shoppers continued to be drawn to its jewelry and other goods. The Tiffany's detailed quarterly and first-half results handily beat Wall Street's expectations, and the company raised its full-year profit forecast again as a result." (New York Times, 26 August) The reason for Tiffany's success is that it caters for the extremely wealthy and they are still in a shopping frenzy over such essentials as high-priced jewels. RD
The Glasgow & Edinburgh Branches Blog. Towards a better understanding of the world, in order to change it.
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