"Economy slips, Yacht Sales Skyrocket" ... LINK (Kind of Says It All)

[Blackhatjack]

http://abcnews.go.com/Business/BusinessTravel/story?id=4312308&page=1

For goodness sake let's not talk about class warfare --because we are all in this together.

After all, the ultra-rich are having to wait until 2012 to take delivery of their yachts ordered today.

Times are tough all over.

[Captain Angry]

1. Moving money

Well, if the markets will truly be declining, wealthy people won't sit and watch it happen. If they feel that the yacht will generate a better return than the market, why not move the money into it.

There are back-orders for some kinds of jets as well.

Side note: On the page you linked, there is information about a millionaire fair. It shows million dollar wheels for a car, etc.

Truly wealthy people do not buy those kinds of things as they have no long term benefit. It's to capture the money of poor people that are rich for a little while. (Pro athletes, musicians, actors.)

The yachts will be resold to people when their owners are moving into markets at their new lows. The million dollar rims will be resold for pennies on the dollar once they've been used once.

[nadinbrzezinski]

2. Key terms, recession proof. These people live OUTSIDE the economy

why a crash will not affect them, and why I laugh when people say they will get their just rewards if we have a crash.

There is another reason... if things get bad, they can set sail away from trouble zones

[Zywiec]

3. These are not Americans buying these yachts

-snip-

Fueling this boom is the emergence of a new class of superwealthy in Eastern Europe, Russia, the Middle East and elsewhere. And like those before them, these new-money billionaires want all the trappings to prove their wealth.

-snip-

U.S. Shipbuilders Benefit

Joe Foggia, president of Christensen Yachts in Vancouver, Wash., said that 10 years ago, his company was highly dependent on American buyers.

"If a recession hit, we would be hurt," Foggia said. "Nowadays, it doesn't seem to be that way."

[intaglio]

4. My sister and her husband have just finished building

their own boat (42' steel hull "Spray" design) It's taken them 14 years and is nothing compared to the gin palaces the rich have - but it will get them where they want to go - which is anywhere not cold.

[Bonhomme Richard]

6. Nothing like a design that has proven itself.

Though a fair bit larger than the original.
Good for them and I wish them fair sailing.

[DemoTex]

5. Thanks for the yacht, Mr. Bu$h.