It isn't just the "Real Housewives" who are over-leveraged and living large. Even after the economic crisis mowed down many of the indebted rich, the wealthy continue to borrow to support their lifestyles.

In a column in the Washington Post, market strategist Barry Ritholtz said many of todays bankers, lawyers and doctors have become so dependent on their ever-increasing salaries that they become slaves to their jobs.

"The big banks, investment shops, law firms and accountants have learned how profitable it is to have golden handcuffs on their best employees. These highly-leveraged, debt-laden wage slaves will work harder, put in longer hours and stay with the firm longer than those debt-free workers.

He added that "overleveraged employees do not leave to work at a new start-up or a smaller, more family friendly competitor."

This is true to an extent. But the wealthy dont need their companies to encourage spendingthe larger culture of wealth and spending does it for them. According to data from Moodys Analytics, the top earning 5% of Americans now account for 36% of consumer outlays. More incredible, this group (with an average income of $342,000 in 2008) have the lowest savings rate in the country: 1.4% compared with more than 8% for the rest of the population.