Two-track economy: 9.7% unemployment, $200K cars

[Newsjock]

Source: Associated Press

For the super-rich and everyone else, the economic recovery is taking place in two very different gears.

A British company is betting there's a market in North America for a $200,000 sports car built with Formula One race technology, announcing Thursday that it will unveil the very expensive new toy late next year.

... For most people, though, the economy's still a clunker. A new Labor Department report said more than 11 million Americans are now getting unemployment benefits.

... There are other signs of the economic split:

-- Luxury clothing stores outpaced others last month and brought in more money than expected. At Nordstrom, sales at stores open at least a year surged 10.4 percent. Sales only rose 2.4 percent at Target, and 1.2 percent at J.C. Penney.

-- Business at high-end hotels is coming back much faster than at mid-price or budget hotels, says Patrick Scholes, an analyst at FBR Capital Markets. Revenue at luxury hotels was up 7.7 percent last week from a year ago. At less fancy hotels, revenue fell.

Read more: http://finance.yahoo.com/news/Twotrack-economy-97-apf-670270394.html?x=0&sec=topStories&pos=3&asset=&ccode=

[Initech]

1. $200K? Pfft... that's nothing. Try $298K due at LEASE signing:

*WITH* $12,400 monthly payments.

http://www.autoblog.com/2010/03/17/lexus-lfa-lease-for-12-400-per-month-298-000-due-at-signi/

[obxhead]

2. sorry

298K is the entire lease contract. 60K down, then the 12,400 a month. (from your link)

Yes, it is outrageous and silly, but lets not over state it.

[troubledamerican]

3. "Two Track" = a.k.a. Third World = plutocrats & slave labor underclass