As the recession persists, we can watch social shifts and cultural trends. Some are good, some are bad. But in either case, one way to control how the recession affects you is to watch the larger trends and decide where you want to fit.
Here are five trends that are emerging in the face of the largest job-loss numbers in the last four decades.
1. Being cost-conscious is cool.
These days, for the wives of the few investment bankers who still have jobs, shopping couture is something to do in secret. Hermes gives unmarked bags for customers who request it. The Obama girls showed up to the inauguration wearing J. Crew. And they looked adorable, which should inspire the reasonably-priced shopper in all of us.
And cost-cutting isn’t just about fashion. Michelle Obama has to overhaul the White House décor. (Great quote from Barack: “I’m not a plates-on-the-walls kind of guy.”) And she’s heading toward Pottery Barn. I love that!
This trend is very freeing to me because my favorite dress for this winter is from Target. It is velvet but not really velvet — sort of crap, cheap velvet. And when I bought it, in September, I worried that it was over-the-top-cheap. But now, I feel more uncomfortable wearing my $400 boots than I do wearing the $20 dress.
2. An increasing backlash against baby boomers.
Newsflash: The baby boomers got us into this mess. They borrowed against future generations. They mishandled SEC regulations. Read more