Front page of the Daily Telegraph, what is happening?
 

On the front page of the Telegraph is an article warning that we are facing further recession.

Next to the article is an advertisement for a diamond encrusted Chopard Watches.

Is this austerity, an indication that we are "in it together"?

Or is austerity a catch phrase for the media to announce to the poor that the rich intend to get even richer at our expense?