Oh yes it does!
When they take a look at their investments and they are half of what they were two months ago they certainly take notice!
Some of those trust fund babies' incomes have been cut in half too because they usually live on the income from their investments.
They notice when that house they were about to buy has to be put off (it happened last week to a couple of them).
Yes, in fact some of them will notice it a lot more in the months to come too. All those charities are going to notice too when they stop giving as much because they can't deduct it.
Everyone is going to notice because when the money dries up who is going to pay for the welfare cheats and the deadbeats?!
I guarantee you that Warren Buffet, et al, have lost very little sleep during the downturn. George Soros has probably been cheering it on (and maybe even helped it happen).
For one thing, these guys were probably better prepared than the rest of us -- being more broadly diversified and more liquid than the average investor.
More importantly, last year at this time, Buffet, Soros and Gates, e.g., woke up from a night's sleep and knew they were the richest men in the world.
When they woke up this morning, that hadn't changed. And, now, they're in a position to pick up some relative bargains -- and get even richer.
Your run-of-the-mill heavy hitter is no doubt pissed at having to do without. But the super rich won't miss a beat. For them, this is just a bump in the road...and a buying opportunity. And they're the ones I was referring to...