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In this week's issue of Newsweek, heiress/author Holly Peterson shares a few anecdotes about how the very rich are cutting back in these turbulent economic times. The daughter of Blackstone co-founder Pete Peterson, Holly says people are now flying commercial rather than jumping on private jets, women are wearing the same dress twice, and lots of men now seem to have more time on their hands. (The proof: some guys are actually dropping their kids off at school in the morning, a job once relegated to wives and nannies.) "Everyone is just plain scared, but no one is talking specifics," she explains. "The thing about rich people is you never know exactly how rich they are or where their money is." Well, except in the case of her father, of course, who walked away with $1.9 billion in cash when his private equity firm went public last year. [Newsweek via Radar]