Pantone, the "global authority on color," has selected Mimosa as the color of the year for 2009. Mimosa, as in orange-hued yellow. Not black to symbolize the dismal housing market, ongoing war in Iraq, and perils of global warming. Not beige to represent the hesitation with which fashion designers are creating their collections, fearful that shoppers won't buy anything that's too out there. But yellow. Searingly sanguine yellow. Mimosa "represents hope and optimism — buzzwords for the new year after a 2008 full of instability and upheaval," reports British Vogue.

"The colour yellow exemplifies the warmth and nurturing quality of the sun, properties we as humans are naturally drawn to for reassurance," Leatrice Eiseman, executive director of the Pantone Color Institute, tells MARKETWATCH.COM. "Mimosa also speaks to enlightenment, as it is a hue that sparks imagination and innovation."

As much as our cynical blogging selves want to rally against choosing a color the world does not feel on the inside right now, we have to hand it to Pantone — they are embracing a year of change. Still, we'll probably stick to drinking our mimosas rather than wearing them.

The Colour Yellow [British Vogue]