A new Wall Street Journal article looks at the effect the recession has had on “bling loving” rappers, some of whom are now rocking the cubic zirconia, the equivalent of spitting in Jay-Z’s face in hip hop.  Some interesting excerpts:

Rapper 50 Cent has relished the chance to accuse his musical adversaries of not glittering like gold. During a radio interview, the artist, whose real name is Curtis James Jackson III, taunted rapper Rick Ross for wearing faux and rented jewelry. “Everything that you see has to absolutely be fake,” said Mr. Jackson. Rick Ross, whose real name is William Leonard Roberts II, has denied the claims. Mr. Jackson didn’t return requests for comment.

“A lot of these rappers simply don’t have the money for real stuff anymore,” says Jason Arasheben, who crafts custom jewelry for wealthy clientele, including Saudi royals and Hollywood movie stars, at his California boutique called Jason of Beverly Hills. “It’s to the point where they are wearing imitation jewelry, and that’s ridiculous.”

Mr. Arasheben designed the colossus of hip-hop jewels three years ago for rapper Lil Jon: an enormous gold necklace that spells out “CRUNK AIN’T DEAD” with 3,756 round-cut white diamonds (Crunk is a southern rap subgenre that Lil Jon — real name, Jonathan Mortimer Smith — has struggled to keep alive). The neck-straining piece, which weighs more than five pounds, was recognized in 2007 by Guinness World Records as the largest diamond pendant on Earth.

He also fashioned a pendant in the image of headphones bedecked in black and white diamonds a few years ago for rapper Biz Markie, whose whimsical jewelry hailed from a less self-conscious era in rap. The rapper — whose real name is Marcel Theo Hall – says he is saddened to see newer rappers favor big, chintzy junk over smaller jewels that illuminate personality .

“Times are hard, ain’t nobody rocking it like that anymore,” says rapper and record executive Bryan “Birdman” Williams, who co-founded Cash Money Records in New Orleans in the early 1990s with his brother, Ronald “Slim” Williams. The independent label has sold more than 45 million albums. “People think these big pieces are blindin’ but they be like D-quality diamonds, and when you try and sell them you learn they ain’t worth a thing,” says Slim Williams. “You can’t be doing it like we did it no more.”

Tagged as: 50 Cent, Baby Williams, Bling Bling, Fake Jewelry, Ghetto Shit, Rap, Recession, Rick Ross