Hamptons Elite Bewildered By Talk Of Recession: Economy Seems Fine

The recession has hit everything from the Britney Spears-photo market to the porn industry, but the super-rich, Hamptons elite are immune from such problems. They’re too busy giving money to charity, staying at chic hotels and dining at the Palm, even if the prices of food and gas to get there have increased.

Bloomberg: Even though Wall Street is cutting jobs and the U.S. economy is in turmoil, life is very good for the financiers and socialites in [the Hamptons,] this exclusive summer haven on the east end of New York’s Long Island. Although waitresses and weekend tourists are feeling the pinch, soaring food and gas prices have barely dented the pocketbooks of the super-rich…

Some nonprofits said initial concern about donations drying up turned out to be largely unfounded…

In the tony Hamptons, recession is something that happens to other people.

“The high end — that’s the magic word,” said Tomas Romano, general manager of the Palm restaurant in East Hampton for 28 years. “Some people out here make money on the way up, on the way down, sideways and every which way.”

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