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May 02, 2008

Recession Chic

A number of things can influence consumer spending behavior. First, of course, is reality -- that is, not enough money on hand to cover everything that is needed as well as desired.

Peer pressure and news reports also play a role. If people they know are scaling back or they get the feeling that many others across the country are doing the same, then serious belt-tightening suddenly becomes contagious.

Finally, any sign that celebrities and other trendsetters are taking up the cause can also spawn me-too behavior. If the following Daily News article, "Sarah Jessica Parker's Hits the Red Carpet in a $9 Dress," accurately depicts an emerging trend, then odds are plenty of Americans will soon view conspicuous consumption in a new light.

Sarah Jessica Parker, with hubby Matthew Broderick, proves a $9 dress can make you look like a million bucks.
Loccisano/FilmMagic

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Comments

Yes there is going to be a lot of pain.Why? because the great majority of the public is more interested in fun & self gratification than the hard work of studying economics political science, philosophy, the arts from all the great minds from the extreme left ,center & far right.History does not repeat itself but stupidity is eternal and with it comes great pain and suffering

US Farmers Give Up Fuel, Use Mules
http://www.liveleak.com/view?i=1c6_1209738332

Dear Michael,

You should feature the article. It's downright scary.

Economy great - for pawnshops
http://www.philly.com/inquirer/home_top_left_story/18479604.html

I'm not sure this counts as a celebrity paying attention to economics, except to her own. This gal OWNS that label--of course she'll wear it. I'd be rather more impressed if she were wearing something off the rack from WalMart.

I'm not sure this counts as a celebrity paying attention to economics, except to her own. This gal OWNS that label--of course she'll wear it. I'd be rather more impressed if she were wearing something off the rack from WalMart.

Sarah Jessica Parker would look like a million bucks in a flour sack.

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