Do Luxury Goods Misrepresent Economic Growth?

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July 30 (Bloomberg) -- Dan Roth, Executive Editor at LinkedIn and Lakshman Achuthan, co-founder and chief operations officer at ECRI, discuss the strength in the luxury goods market and how the lack of growth separates high-end consumers from the general public still hurting economically. He speaks on Bloomberg Television's "Bloomberg Surveillance."

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I think most people say -- it depends on what kind of a job you have, the industry.

When i go to silicon valley there are people with t-shirts.

You come back to new york and that would apply in certain places.

If you look at what coach is doing in competitors are doing, you can see someone like a burberry focusing on millennial, it is a way to reach people.

Are you just saying that because the burberry ceo is a brand new influence?

To go never have a bag of fancier than the person interviewing you's bag/ ? that could be.

What about the stock price?

I beleive chanel is higher.

In terms of stock price, it has done so well but lately it has stumbled a bit.

Definitely trailed like michael course.

-- micael kors.

-- michael kors.

Madison avenue is not the country.

Not the world.

A little bit of a bubble.

As is the luxury items.

If you are doing well financially generally, then in the recent economy you have been doing very well, because you have seen real-estate prices recover sharply in the stock market recover sharply.

To switch gears here, if you are around wall street, probably close to the helicopters that are spewing out cash, and that is a pretty good thing, but most people are not near wall street.

Most people are near a main street.

That is why there is this disconnect of what the president is doing.

The conservatives said there is too much regulation and taxing.

Liberals say let's do more are keynesian spending and other things.

I think everyone is missing what is going on, which is that growth is not there.

Growth has been down shipping since before the great recession.

We will talk about this and a bit.

I want to pin you down right now on the job of economy.

Are we going to sustain this, or do you see the non-foreign payrolls -- first off, all you have now are preliminary numbers.

All of that gets refined massively.

Secondarily, you cannot get away from the fact that 35-54 has lost almost 1 million jobs since the jobs recovery began.

That is where you make your money.

Did i get away from $1,000 coach back nicely?

Very interesting.

This text has been automatically generated. It may not be 100% accurate.


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