Luxurious lifesyles take a hit

I think this article is very interesting and appropriate for the current situation our economy is facing. November 4, 2008 is election day in America and our economies economic status is going to play a large role in who is elected president.

What this article focuses on is how Americans are, for the most part, cutting down on their normal everyday expenses. Couples who are getting married are substituting more elaborate purchases for less elaborate ones.

F. Scott Fitzgerald writes "in the current financial meltdown, the rich are cutting back like the rest of us. Not to say their suffering is quite the same."

I have to agree with the majority of what this article discusses. As a full-time college student, I personally have cut down immensely on the purchases I have been making. For example, on mornings when I would normally purchase a coffee on campus, I now make at home before going to school.

The article discusses how people from all different economic backgrounds are cutting back on their expenses, not just those that are not categorized as "wealthy."

"Those who usually rent Christmas villas are more likely to stay in hotels instead," wrote David Arnold.