Cheap is the new chic?

This article on CNN.com is about frugality. In fact, the author states ""...frugality is the new black."

We're so obsessed with a culture of luxury - and false luxury at that. Luxury bought with credit we didn't deserve and shown off with this false sense of pride as if to say "look what I've got, it makes me whole."

Guess what. It doesn't. A nice watch, fancy shoes and a $3,000 purse does not make you a good person. It does not make you a smart person. It doesn't even necessarily signal that you're a wealthy person (hell-oooo Canal Street).

I know that this may be masochistic to say, but I'm sort of grateful for the recession. Maybe now people will read and spend time with their kids and value each other based on what's in their head on on it.