Conspicuous Consumption, a Casualty of Recession

It is a sign of the times when Sacha Taylor, a fixture on the charity circuit in this gala-happy city, digs out a 10-year-old dress to wear to a recent society party.

Or when Jennifer Riley, a corporate lawyer, starts patronizing restaurants that take coupons.

Or when Ethel Knox, the wife of a pediatrician, cleans out her home and her storage unit, gives away an old car to a needy friend and cancels the family Christmas. “I just feel so decadent with all the stuff I’ve got,” she explained.

This certainly is one positive outcome of all of this mess. Read it all.

Posted in * Economics, Politics, Economy, Personal Finance, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

5 comments on “Conspicuous Consumption, a Casualty of Recession

  1. Marie Blocher says:

    As one of the old fogeys who remember my parents saying the “use it up, wear it out, make it do or do without.” expression from the Depression, during WWII, when things were scarce for a different reason, I can only say “it’s about time!”
    I have watched in awe, as friends mortgaged their future for a spur of the moment “want”, racking up credit card balances that were out of sight.

  2. Irenaeus says:

    [i] Conspicuous Consumption, a Casualty of Recession [/i]

    Good riddance!

  3. BlueOntario says:

    “Conspicuous Consumption, a Casualty of Recession;” for how long? People aren’t known for having good memories or taking long views.

  4. Katherine says:

    So, now everybody is behaving like me. I buy clothes and shoes that I need, and wear them until they’re worn out. I wish all these people had thought of being sensible before now.

  5. Sidney says:

    patronizing restaurants that take coupons.

    If this is what passes for frugality, we’ve got a long way to go. A few decades back, eating out was a lot less common than it is now.