The recession’s hit even the Stoli-sipping, swag-swiping socialite set - many of my well-heeled chums have announced they will making Christmas presents by hand.

“Your hands?” I asked Gremolata Bunion (of the Newport Bunions). I’m not saying she’s a klutz, but the time she pinch-hit for the nanny and diapered her own tot, the kid wound up with a Pampers turban.