The Atlantic Talks to Rich People About the Economy

DocParty-750134.gifAnd we mean that quite literally. The Atlantic threw some sort of Not State of the Union Address party last week and asked attendees their thoughts on the economy.

Just to give you a sense we’re told guests included: Andre Balazs, Marc Ecko, Frederik Fekkai, Gayle King, Joel Klein, Rick Lazio, Richard Meier, Chris Meloni, Moby, Eva Moskowitz, Deborah Needleman, Susan and Alan Patricof, Connie and Ted Roosevelt IV, Douglas E. Schoen, Stephen Schwarzman, Dan Senor, Peggy Siegal, Eliot Spitzer, Julia Stiles, John Stossel, Jacob Weisberg, and Bill Weld.

Which, for the Upper East Side certainly represents some kind of cross section of opinion. Anyway! Apparently rich people are no more optimistic about the economy than anyone else:

This year, as prominent New Yorkers gathered at the Upper East Side townhouse of Emily and Len Blavatnik to watch President Obama’s first address to Congress, The Atlantic and co-hosts Boykin Curry and Celerie Kemble polled the guests on their economic views:

·A week before the stock market’s most recent plunge, 48 percent said the Dow would hit a low of 6000, with 24 percent predicting a bottom of 5000

·One-third (33 percent) said their portfolio was down 35-50 percent over the past 12 months, while 13 percent reported their portfolios had plunged more than half

·Forty-four percent blamed the current economic crisis on CEOs and Wall Street leaders, while 31 percent faulted average citizens spending more than they could afford

·Seventy-seven percent predicted a higher Dow in 18 months