You know you have entered Neo-Fedualism when high-end luxury retailers are struggling because there are no longer enough regular wealthy buyers anymore. As regular readers of this blog understand, this is due to the fact that central bankers and governments around the world have been redistributing and consolidating all global wealth to the top 0.01% oligarch crony class. The corporate solution to this problem courtesy of Business Week is:
Louis Vuitton is raising its focus somewhat from the really affluent to the really, really affluent. The Paris-based conglomerate of fabulous and fussy things is launching a new line of very high-end leather handbags and accessories to complement its existing products, according to Women’s Wear Daily.
The strategy raises the question: just how much more opulent can LVMH get? The company already sells $88,000 watches, $4,000 handbags, and $1,000scarves. But if you are asking that question, the new LVMH line isn’t for you. There’s really no ceiling in the high-end retail game (consider astrakhan, a fleece harvested from fetal lambs).
At least in Medieval times the knights and noblemen would ride into battle, and as Nassim Taleb likes to say, had “skin in the game.” The rulers in modern feudalism merely print electronic money and hand it to themselves to purchase fetal lamb wool.
QE100 will focus its efforts on the purchase of Birkin Handbags and million dollar Hublots from oligarchs.
Full article here.
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