In one of those classic Sunday Styles pieces that seems to have been written solely to provoke outrage and/or ridicule, today we learn that this spring, coinciding with bonus season, the very rich are finally going to resume their conspicuous consumption and status-purchasing. Whew! There's even a name for the suffering and anguish these folks have silently endured for the past year or two: "frugal fatigue." The article lists off extremely anecdotal examples of this "phenomenon," such as one man who bought one $5000 pair of earrings one day recently, and another man who saw a woman on an elevator wearing a $10k coat. Green shoots!
Apparently, the frugal fatigue "movement" is practically Buddhist, what with all the turning inward:
“It is about inner self-gratification rather than letting people know how rich you are.”
Is that what buying a Bentley instead of Rolls Royce is about, now! And here we always thought it was a compensation thing. And also this:
“I think it will be interesting to see what big houses go up for sale or who buys the first big necklace,” Ms. Lebenthal said. “Even when there is still so much populist anger.”
Ooohh, we absolutely positively cannot wait to see who buys the first big necklace. First Big Necklace-Watch begins today!