And the class divide grows

Welcome to George W. Bush's fourth holiday season out of eight. Merry Christmas -- to the rich.

[T]he holiday 2004 season for retailers is turning out to be sharply divided between the haves and have nots.

Luxury stores like Neiman Marcus, Nordstrom, Saks Fifth Avenue and small designer boutiques are enjoying robust sales of such items as $8,000 mink ponchos, $1,000 snakeskin handbags, $200 crystal-studded jeans and $25,000 bejeweled bangles as their well-heeled shoppers have benefited from a recovering economy. ...

Contrast that with the results of discounters like Wal-Mart Stores Inc. and mid-level stores such as Sears, Roebuck and Co. and May Department Stores Co. Inc., all of which have been struggling with tepid sales. Many are fighting hard with early bird specials on Saturdays, free gift cards, and special coupons.

But, hey, it's alright. "A rising tide lifts all boats," right? Just ask any yacht owner. Oh, and ignore the folks treading water who used to be wading.