We know, we know. It’s no longer cool to flaunt your wealth with Hermes bags and logo-ed goods. So now that you can no longer decorate your apartment like Donald Trump or paint your fingernails with Chanel logos like Heidi Montag, who should you model your spending behaviour after? The Minnesota Star-Tribune, has the answer: look north, to Minnesota.
Residents of the northern state are reportedly masters in buying expensive items and not showing them off.
Minnesota Star-Tribune: Luxury goods are the new porn, things that must be hidden behind plain brown wrappers lest one be viewed as marching down the road to Prada perdition. Chanel and Sotheby’s are laying off employees. Louis Vuitton has packed away its plans to open a megastore in Japan. Yacht sales, which have risen every year over the past 10, are approaching dead calm. On the home front, even the Starbucks near 50th and France in Edina recently offered, for the first time, 20 per cent off a bag of coffee beans.
Conspicuous consumerism has never been in fashion for Minnesota’s anti-ostentation old money. Their idea of being flashy is breaking out Grandma’s diamond necklace once a year, and then only for a Wayzata fundraiser.
Wayzata, for the uninitiated, is a local country club.
Word to the wealthy: Just admit you have it, and continue spending it to make up for those who can’t. Don’t swan around some macrobiotic ashram as if you’re learning to live without. And by all means, continue those charitable contributions, knowing they’re needed now more than ever.
As for the next big thing in designer labels, how about Ponzi? The name has the right ring to it.
And that would be a nice way for some of Madoff’s victims to make their money back.
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