Good morning! Are you ready for the first official day of Fashion Week? Let's start with the weather forecast: We're due for rain — no, wait, it's positively biblical out already, so put those open-toed satin pumps back on the shoe rack. Don't bother straightening your hair. And make sure you've found your big umbrella (it's by your air conditioner) with the extra-wide span to reduce sog and maximize chic. Yes, it's a nuisance, but it's a handy weapon for any bitch who tries to edge in on your seat. Just be sure to keep it close at your side and not sticking out on the runway, for the models are fragile … and the only ones who can fit into the clothes we need to see over the next seven days.

Now for the trend forecast from Reuters: If you've not heard, a "financial meltdown is sweeping the United States," and our collective fabulousness is going to take a hit. The economy is in a rut, so buyers are going to spend wisely. And the dollar's in the hole, and American retailers aren't going to buy as many European clothes, either. The consensus is that American designers will show more plain clothes that buyers know are bankable with consumers. But designers will also up the theatrics on the runway, lest we forget how zany and creative they are. Still, trend forecaster Jayne Mountford predicts gray will be the color of the season.

So, to recap: It's raining, and we may be looking at gray clothes all day. Thank God for free Champagne and celebrity lushes.

NY Fashion Show to Take Inspiration From the Economy [Reuters]