Admit it, you've been splurging!! :)

Who’s the most obnoxious TV personality?  Well, I'd bet Jim Cramer on CNBC could compete.  That said, I appreciate his passion for markets and I watch his show Mad Money often enough.  Recently he did a 'Oils well that ends well' segment and I agree. It would be really bad for everyone if the recently revived US consumer gets crippled at the pump.  A lot of the global economy is banking on him to take that cruise  to Hawaii and return with that Chinese-manufactured ‘Waikiki Beach’ T-shirt.  He is absolutely right gas at $5/gallon is a problem. 

Everyone's worried because so far the United States of Consumers has not disappointed.  Incidentally Tuesday was judgement day for this.  Saks, Macy’s, Home Depot and Walmart all reported earnings.  I hope 'The Birds and the Biz' followers can guess what happened.  Home Depot had strong numbers (see US housing posts); Sak’s and Macy’s both beat (remember that crazy Sak’s shoe-page?).  Meanwhile Walmart (with those crazy post thanksgiving mobs) disappointed on heavy discounting.  They were basically selling a $5 DVD player and then throwing in the complete box set of ‘Saved by the Bell’ for free!   Also, bad news for recession-istas who mastered waiting for the sale – Sak’s CEO said full price is coming back.

Damn!...just when we were getting accustomed to discipline and restraint.  You see, one of the casualties of the 2008 financial crisis was conspicuous consumption.  Recession-istas became regular Vogue vernacular and home austerity measures were sources of pride and delight.  Particularly on a trading floor where men (intentionally sporting last year’s Brooks Brothers) proudly boasted of their wives' newly frugal ways.  Those who didn't accept the new normal bordered on ridiculous.  For example, Paris Hilton frocked head-to-toe in Gucci looked outright stupid (I saw her in Aspen this year and she doesn't carry her own skis!) while Kates (both Moss and Middleton) in Top Shop brimmed of style and good taste.  

But seems we’re all kidding ourselves and hiding a few 'harmless splurges' from our husbands/boyfriends.  Sorry, the secret's out.  Nearly all of the high-end luxury retailers reported awesome numbers  (LVMH, Coach, Richemont, Burberry, Feraggamo, Michael Kors) with plans for expansion.  Indeed a lot of Chinese blinging-out but numbers were solid all-around.  Think the Gucci brand was the one exception but (yuck) Paris wears a lot of that!