In the current economic state, women who barely thought twice about charging a $1,200 designer purse are now skipping these luxuries and settling for their lower-priced counterparts. According to the NY Times, the movement of purchasing thriftier fashions has been coined recession chic. Women like price-conscious shopper Mary Hall have added a spin on the term and proudly declare themselves recessionistas. Hall has even founded the Recessionista blog, cataloging all the smart buys she comes across.

While the term ‘recession’ is considered unfavorable, embracing recessionista instead is seen as a way to embrace the economic downturn (and to keep on shopping in the process.) Though women are throwing around recessionista in casual banter, lexiconographer Grant Barret is warning us that “it’s kind of permitting consumers to have justification for their spending habits.” In a way, he’s reminding us that there’s something very off-putting about shopping for piles of clothing we don’t need in a shaky economy. Writer Lauren Sandler asks “Do women in today’s economy want to confront pages of $1,000 shoes when they are struggling to pay the rent?” Yet, without shopping, many designers and retailers will falter.

In the meantime, The NY Times reminds us that as catchy as recessionista seems, if the economy worsens, it may be replaced with…depressionista.

Moët and Chandon, the producer of luxurious champagne is releasing Midnight Gold, a handmade champagne cooler. This limited edition gold lambskin case (100 pieces) is decorated with the finest Swarovski crystals and pearls. The gilded masterpiece is topped with a gold stopper and the attached necktie can double as a bracelet. Isn’t overwhelming excess so last year?

Teens of generations past rifled through their parent’s closets for remnants to add to their latest and greatest looks. Perhaps their friends would be in on the action, but that was the end of it. Now, they can pile on the relics of bygone eras, snap some digital photos and blog about it to the entire world.

Three teens named Stephanie, Tavi and Arabelle are featured in the brand new issue of the New York Time’s T Magazine in an article in which they interpret high fashion styles with only their parent’s clothes mixed with inexpensive basics.

Some readers were not impressed, calling these girl’s looks unoriginal and painting them as greedy consumers. I disagree with the negative reactions. These teens are still growing into their own styles and personalities and are brave enough to share their experiences with the world. Instead of sitting in front of a TV, they’re writing and publishing articles on topics that they’re passionate about and learning the valuable skills of using a digital camera, self-publishing and social networking in the process. By running popular style blogs, they could be setting themselves up for future internships and careers in the worlds of fashion and magazines.

Teens that are staying out of trouble and producing content that makes them proud should be commended.