Recession What Recession?

A couple of recent news items illustrate the immense wealth of the world-wide owning class even in a period of so-called economic recession. 'The world's most expensive flat has reportedly been sold in London for £140m. According to Property Week, the penthouse in the One Hyde Park development was snapped up by an eastern European buyer.' (International Business Times, 2 May) 'A hedge fund manager has plunked down the most money ever paid in the U.S. for a residential property to land a massive seaside estate in the Hamptons. The East Hampton property was bought by Jana Partners hedge fund manager Barry Rosenstein for a staggering $147million smashed the previous record of $120million paid for a Greenwich, Connecticut home only two weeks ago.' (Daily Mail,3 May) No worries about a "bed room tax" here! RD