Why do people buy high performance cars or vintage wine? Apparel is an investment that has a direct affect on you: It's on you. If you can afford to feel as comfortable as possible but still meet the requirements of your occasion, than that is luxury.
As a teenager, I walked around Bal Harbour, hoping I would grow up to be just like those ladies with all the shopping bags. The Bal Harbour I visited last weekend still possesses all it's fabulousness but with hotter, younger crowds.
Should we really believe that 20 million people purchasing luxury goods such as jewels, fashion, yachts, private planes and lavish international travel will be a major boost to the U.S. economy! Come, on.