29.7.15

Mish's Global Economic Trend Analysis

Mish's Global Economic Trend Analysis


"Selfie" Fashion Trends: Cheap Dresses and "Rentabag"; Mish Handbag Tips

Posted: 29 Jul 2015 04:56 PM PDT

Impact of the "Selfie"

Are you into Facebook, Instagrams, and "Selfies" (taking lots of pictures of yourself and sharing them instantly)?

I'm not but, but in my travels I see lots of it. The popularity of sending "selfies" has even influenced retail sales and women's fashion. After all, one cannot be seen in the same outfit too often!

Here's an amusing video that discusses the impact of the "selfie".



In the above video, FT's Andrea Felsted visits online fashion retailer Asos to see how it is adapting its business model in the era of the selfie.

Link if video does not play: How the Selfie Is Shaking Up Retail.

Cheap Dresses and Rentabag

Allegedly it's a faux pas to be seen too often with the same bag. So enter the "rentabag". I had to look this up. There's a huge selection of choices.

  • Bagborroworsteal: Rent Luxury Bags Online - Huge Selection of Designer Bags‎ - Get A New Bag Every Month
  • Supursestyle: Rent designer handbags at affordable prices
  • Bagdujour: Handbags for rent - Wear a Beautiful Designer Bag Today Authentic, Affordable & Convenient
  • Renttherunaway: Fashion accessories, jewelry, handbags, and wraps for women
  • Armgen: The Netflix of handbags. We rent trendy designer handbags at a fraction of the cost!
  • Rentmeahandbag: Rene Caovilla Shoes Sandals
  • Lovemeandleaveme: Buy designer bags outright, hire bags or use payment plan options
  • Bagtropolis: Buy, layaway and rent borrow luxury pre-owned authentic designer handbags, bags, purses, pocketbooks at affordable prices, including Balenciaga, Celine
  • Luxurylana: Rent from your favorite designer handbag online
  • Monluxe: MonLuxe the european bag and jewelry rental company. Delivery in 24 hours in France, Benelux, Germany Italy, Spain, Portugal

Mercy!

There's even a site promoting Make Extra Money Renting Handbags and Purses.

Really Expensive Bags



$100,000 for a bag? That is the full price though, not a rental. Phew!

For comparison purposes, who wouldn't want this "beautiful" Valentino Leopard Calf Hair Rockstud Trapeze Bag, bargain-basement priced at $3,995?



How about this trendy Fendi Baguette Bag Bugs Shoulder Bag "beauty" for a mere $2,610?



$100,000 Bags Totally Worth It?

Those prices seem shocking, but the PurseBlog gives 8 Reasons Spending $1,000 or More on a Bag is Totally Worth It.

Real Reason for $100,000 Bags

For those looking for the real reason behind $100,000 handbags that sometimes look rather ordinary and sometimes purposely gaudy, blame the Fed and central banks in general.

The income inequality the Fed and politicians rail against comes directly from middle class killing policies of the Fed and government officials.

What Your Money Rents

Who in their right mind wants to pay $300 a month to rent this ordinary brown bag?



For a "mere" $45 a month you can rent these sunglasses.



Designer Bags

BagDuJour offers the following designers for rent.

  • Alexander McQueen
  • Anna Sui
  • Anthony Luciano
  • Anya Hindmarch
  • Burberry
  • Charlotte Olympia
  • Chloe
  • Diane von Furstenberg
  • Dolce & Gabbana
  • Edie Parker
  • Emilio Pucci
  • Ermanno Scervino
  • Fendi
  • Givenchy
  • Gucci
  • Isabel Marant
  • Jimmy Choo
  • Kate Spade
  • Kotur
  • Louis Vuitton
  • Marni
  • Mary Katrantzou
  • Michael Kors
  • Miu Miu
  • Piero Guidi
  • Pierre Hardy
  • Prada
  • Proenza Schouler
  • Roberto Cavalli
  • Saint Laurent
  • Stella McCartney
  • Tiffany
  • Valentino
  • Versace
  • Versus Versace
  • Victoria Beckham

With so many "designers": Would anyone really know if you had a designer bag or something similar?

One final question: Is it really millennials renting this stuff for selfie instagrams, or do the bulk of these rentals go to people pretending to be youthful and rich?

Designer Bags For Cheap

I did some searching and found some genuine leather bags that look nice (at least to me). Here's a couple from DesignerHandbagRescue.



That's a Coach Bag (I have no idea how popular that brand is or isn't) but I like the clean looks of it. It retails for $235, but went for $89.95 used but in near-perfect condition.

Sorry ladies, sold out.

Here's a Michael Kors Rhea Medium Zip Shoulder Bag for just under my top-end splurge limit. It retails for $268 but you can still get it for $124.95.




With that, my fashion preferences are now exposed and subject to immense criticism from all my female readers (as well as any males who happen to like purses).

By the way, I get nothing for promoting any company mentioned in this article. I Just decided to see what I could get and stumbled on that site.

I suspect there are numerous nice-looking purses under $50, and even $300+ designer purses for close to or under $100.

Mish Practical Tips

    1. Buy a bag, don't spend more than $50, be creative, and hardly anyone will know it's not a designer bag.
    2. If you really want to splurge, spend $125 or less for designer bags.

      Finally, if you select option number 1 and someone asks about your bag, just tell them it's a soon-to-be-very-popular, genuine MishabagTM.

      Mike "Mish" Shedlock
      http://globaleconomicanalysis.blogspot.com

      Fed Sheds No Light, Plays Charades with Media; Tiptoe Balancing Act

      Posted: 29 Jul 2015 11:47 AM PDT

      Fed Says Little, Sheds No Light

      If the Fed had a clue as to what it will do in September, it likely would have said so. Instead, it reiterated the same hash we have been hearing for years.

      Here is the complete text of today's FOMC Press Release.
      Information received since the Federal Open Market Committee met in June indicates that economic activity has been expanding moderately in recent months. Growth in household spending has been moderate and the housing sector has shown additional improvement; however, business fixed investment and net exports stayed soft. The labor market continued to improve, with solid job gains and declining unemployment. On balance, a range of labor market indicators suggests that underutilization of labor resources has diminished since early this year. Inflation continued to run below the Committee's longer-run objective, partly reflecting earlier declines in energy prices and decreasing prices of non-energy imports. Market-based measures of inflation compensation remain low; survey‑based measures of longer-term inflation expectations have remained stable.

      Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate. The Committee continues to see the risks to the outlook for economic activity and the labor market as nearly balanced. Inflation is anticipated to remain near its recent low level in the near term, but the Committee expects inflation to rise gradually toward 2 percent over the medium term as the labor market improves further and the transitory effects of earlier declines in energy and import prices dissipate. The Committee continues to monitor inflation developments closely.

      To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate. In determining how long to maintain this target range, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.

      The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. This policy, by keeping the Committee's holdings of longer-term securities at sizable levels, should help maintain accommodative financial conditions.

      When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent. The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.

      Voting for the FOMC monetary policy action were: Janet L. Yellen, Chair; William C. Dudley, Vice Chairman; Lael Brainard; Charles L. Evans; Stanley Fischer; Jeffrey M. Lacker; Dennis P. Lockhart; Jerome H. Powell; Daniel K. Tarullo; and John C. Williams.
      Charades

      I suspect the Fed is concerned about retail sales, sentiment, housing, China, Greece, oil, Canada, the US dollar, and a host of other things.

      At this stage in the charade game, the Fed cannot possibly come out and say any of that. Nor can the Fed hint at a September hike, even though it wants to, because retail sales may continue to slump and auto sales could easily collapse.

      The Fed expects "further improvements" in the labor market, but what if all these inane minimum wages hikes kill jobs.

      High consumer sentiment has not led to higher retail sales as the Fed seems to believe it would (See Sentiment Measures vs. Retail Spending: Clueless Clues and Random Noise).

      Tiptoe Balancing Act

      To avoid saying anything that might be seriously wrong, the Fed says the risks are "nearly balanced" then disproves that with lovey-dovey hogwash about "keeping the target federal funds rate below levels the Committee views as normal in the longer run."

      I just happen to have the right musical clip for the Fed's tiptoe charade game.



      Link if video does not play: Tiny Tim Tiptoe Through Tulips

      No doubt you can stand no more than 30 seconds of that, which is also about how long a knowledgeable reader can stand the Fed's charade game playing.

       Mike "Mish" Shedlock
      http://globaleconomicanalysis.blogspot.com

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