Remember how magazines targeting the rich were going to be "largely immune to the problems" besetting the economy in general and publishing in particular? Well, that was way back in March, and if the ensuing seven months have taught us anything, it's that every last one of us will end up a hobo or die in the ensuing revolution. What this means in the meantime is that there is no such thing as a safe publishing niche. To wit, shelter magazine Cottages & Gardens, serving the rich from the Hamptons to Connecticut to Palm Beach, is poised to let "a lot of people go," a tipster informs us. Staff this week were reportedly told that money on hand will fund their salaries for just two more weeks, unless a bigger company swoops and acquires the magazine. This should sound very familiar:

• Niche Media has taken a hatchet to its various city magazines for socialites, we were told last week.
• Forbes, favorite of rich uncles everywhere, is supposedly getting rid of "deadwood long-timers."
• Adweek is cutting 19 positions.

A central lesson of the meltdown on Wall Street is that world markets are more interconnected than previously suspected, just as the market for subprime mortgages turned out to be way, way more connected to the market for short-term loans to high-credit businesses than previously suspected. At the start of October, Germany loudly rejected any Europe-wide coordination to help banks. It took less than two weeks for Germany to reverse course as the financial contagion spread more pervasively into its own banking system.

It is now clearly likewise with media: Some niches will do better than others, but none will ride high above the storm.

Send an email to Ryan Tate, the author of this post, at ryan@gawker.com.