If any further proof were needed that we have a tale of two recoveries – the rich and the rest – consider some recent headlines on consumer spending.

"With Sales Flabby, Wal-Mart Turns to Its Core." (Apparently, the jobless and houseless aren't spending). "Luxury Cruise Lines Sailing Smoothly Again" (Large villas and suites with extra privacy on Norwegian Cruise Line ships are selling out). "Tiffany Profit Up 29%" (Yellow diamonds are hot).