P. Diddy is showing some sensitivity for the rest of us by toning down his bling during the recession. He’s demonstrating a good deal of common sense and respect for his fans and their financial situations, which probably aren’t as luxurious as his own.

Rapper P Diddy is trying to hold back on his over-the-top fashions and dress less flashy – out of respect for his fans.

The Bad Boy For Life star – who recently grounded his private jet due to the increasing cost of gas – says he is going to scale back on his bling until the credit crunch is over.

He says, “Out of respect, I’ve been trying to dress less flashy. It’s one thing to be stylish, it’s another to be over the top. You gotta know when to hold back and not to rub it in.”

[From Showbiz Spy]

That’s also a smart business move. Diddy doesn’t want to risk alienating people. Part of his branding is having a flashy lifestyle that his fans can emulate by buying his clothes, his music, and the items he promotes. Right now that’s really not possible for a lot of people, and he could lose fans if he were walking around sporting diamonds and drinking Ciroc all the time.

Jim Carrey’s response to the credit crisis is less sensitive towards the common man, but certainly honest.

Jim Carrey insists he hasn’t been affected by the credit crunch – because he has plenty of money.

The actor – who stars in new movie Yes Man – says the current economic climate hasn’t affected him at all – as he has so much money he doesn’t know what to do with it all.

He says, “I’m not in a recession.

“I’m doing incredibly well. I don’t know – I just want to be honest, because I am really kicking ass. It’s so wonderful to have money.”

[From Showbiz Spy via Gossip Rocks]

Well… it’s true. I guess there’s no point in saying it’s hard for you too when it isn’t. And acting like he’s dramatically affected by it would just piss off people. Jim could probably have kept the “It’s so wonderful to have money,” comment to himself though. But the man’s been banking $20 million paychecks for the better part of fifteen years. He’s probably going to be fine no matter what. Or find a lot of people camping on his doorstep.

Here’s Jim at the “Yes Man” premiere and leaving Scott’s restaurant in London yesterday. Images thanks to Bauer-Griffin. Header of Diddy sans bling performing at the Power 106FM Cali Christmas Holiday Concert in Los Angeles yesterday. Image thanks to WENN.