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To make matters worse, we are now not only trying to keep up with the Joneses we are trying to keep up with the Catherine Zeta- Joneses. We no longer look just at our neighbors, co-workers, and friends as measuring sticks of our own success; we compare ourselves to people with unreachably high social standing and levels of wealth. The Fashion Victim is pushed to spend by everyone she sees, which, today, includes those glamorous millionaires in Hollywood. But it is a dead end, says Gary Cross, author of Time and Money: The Making of Consumer Culture. Keeping up with the Joneses gives individuals ways of expressing themselves, but does not necessarily lead to real conversation with others or self-knowledge, he says.

We’re chasing unattainable satisfaction. Today, about 3.5 million U.S. households are worth $1 million or more. In 1975, there were 350,000 millionaire households (only a third of the increase can be attributed to inflation, according to Tom Stanley, author of The Millionaire Next Door). For the most part, Americans are a wealthy bunch. Yet we are a nation of poor savers. According to Juliet Schor, author of The Overspent American, our national savings rate has plummeted. The average American household currently saves only 3.5 percent of its disposable income, about half the rate of fifteen years ago.

The French, Germans, Japanese, and Italians save roughly three times what Americans do, and the British and Dutch more than twice, says Schor. Even Indian and Chinese households, most of which are dirt poor, manage to save about a quarter of their paltry yearly incomes. Not surprisingly, Americans also make up the biggest slice of the pie when it comes to spending on status luxury goods, haute couture, and high-end prªt- -porter: the U.S. consumes 25 percent of such goods; Japan, 15 percent; the rest of Asia, 17 percent; France, 16 percent; and the rest of Europe, 18 percent.Korean Fashion Style 2015-2016 | MyFashiony Ltf

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