Rappers face "hard times" as bling-bling culture wanes

28/05/2009

The "broke Beckham" culture where debt-hit consumers try to emulate the flashy lifestyles of celebrities is facing another blow to its credibility.

Reports from the US suggest that hip hop stars, whose "bling bling" lifestyle is often emulated by fans, are facing hard times in the credit crunch.

Jewellers are increasingly being requested by rappers to make them cheaper watches and medallions and some have even asked for diamonds to be replaced with fake cubic zirconias, the Wall Street Journal reports.

What's more, some of the stars have even found out that some of the flashy gear they bought in the economic boomtimes prior to the beginning of the crisis is worth less than it seems.

Bryan Williams (aka Birdman), co-founder of Cash Money records, told the newspaper that "times are hard" for rappers at the moment.

Co-owner Slim Williams added: "People think these big pieces [of jewellery] are blindin' but they be like D-quality diamonds and when you try and sell them you learn they ain't worth a thing."

Recent research from Credit Action revealed that households who held some form of unsecured debt currently owed over £20,000 each.

Tags; Budgeting Advice, Credit Card Lifestyle,

Regional Debt Advice; Debt Advice Ewell,

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