It's no secret that a lot of people are losing jobs, and obviously in such a situation cutting back on luxuries is a necessity. Then too, the unstable market makes rash spending feel, well, rash. But as the piece points out, even those on solid financial footing find themselves abstaining from shopping sprees out of guilt — or sensitivity. Says one former shopping maven,"When I see people around me who are struggling and frightened, it really doesn't feel like a good time" to shop, she says. "It's not appropriate."

Plus, thanks to the media's wholesale embrace of the novelty of economizing, cutting back is fun!

As more people economize, it's become cool to pay less rather than more. It's worth boasting these days about buying faux-leather Anya Hindmarch for Target handbags for $30 — rather than the $500 versions at Ms. Hindmarch's boutiques. The digital marketing agency Zeta Interactive has measured a distinct increase in the buzz — recorded by the volume of Web-site and blog postings — surrounding discount retail sites. According to Zeta's research, for instance, discounter BlueFly.com received 25% more buzz in October than in September, while full-priced Netaporter.com received 19% fewer postings on blogs and Web sites.

As we've chronicled before, literally every day brings a new raft of tips and solutions on how to stay fab and save pennies. While it's nice, I guess, to feel like we're all in this together, something about this whole trend makes me slightly uneasy. It's like this level of enthusiasm and excitement for the "let's play recession!" game can't keep up, and as the months and years of economic hardship drag on, the everyday realities of cutting back and being sensible will feel all the drearier in contrast. Self-sacrifice is something most of us on modest incomes practice to some degree every day; while it's laudable that those women who were wont to throw down $800 a month on shoes are realizing they don't "need" them, they're probably the ones who will have the luxury of abandoning the game when it loses its novelty — even if in the process they gain the inestimable pleasure of wanting and valuing again. For the rest of us, it's called life.

The Latest Style: Self-Denial [Wall Street Journal]

Country music star Wynonna Judd earned tons of money from her career but squandered much of it; she ended up in a kind of money rehab. According to the Times, "The fields of psychology and financial planning have been slow to link money and emotion." Which makes absolutely no sense! Is there anything else that gets people so worked up? Money arguments are one of the leading causes of divorce. And psychologist Jonathan Rich tells the Times: "Right now with the economy, there is so much money stress, more arguing and more tension over money." The Times says an online survey by the American Psychological Association in June found that 75% of the more than 2,500 adults said money was the No. 1 source of stress in their lives. (Also interesting: The three people in need of financial therapy in this article are all women.)

It seems to me like one of the biggest problems with money is that it's so uncomfortable to talk about. People don't tell their friends how much they make, how much their parents have, what they spend and what they save. Sarah Kershaw writes in Times: "Money is still a great cultural taboo that is rarely discussed openly in this country." Why are we so afraid to discuss something we literally cannot live without? And are women more likely to have issues with money?

How to Treat a ‘Money Disorder’ [NY Times]

Last year, a group of parents in Minnesota started BirthdaysWithoutPressure.org to promote simpler celebrations for kids. But why keep it simple when you can spend, spend, spend? As a commenter posted on this site recently: "Why are people such haters? Maybe because they are jealous they can't afford such things?"

I have a Mutsy stroller, yes it cost $759, but I also donate money to children who don't have books to read, to animal shelters and various other charities. I'm not a monster, as you seem to think that people who spend a lot of money on their children are.

I spend time and money on my baby and I love the clothing and furniture presented in this magazine(yes, I like nice clothing and NO, i don't shop at Babies-R-Us), but who are you to judge me based on that? Do I ridicule you for your children dressed in low-end clothes? Maybe I should and then I'd be on your level.

$10,000 For Child's Birthday Party? [CNN]

Related:Parenting Author, Childless Woman Weigh In On Baby Couture
Earlier: Baby Needs A New Pair Of Shoes

The interesting part is that since the scientists were using gambling in their study, erotic photos (which have nothing to do with gambling) are considered "irrelevant stimuli." Brian Knutson, assistant professor of psychology and lead author of the Stanford study, explains, "If you go to the casinos, people are wearing skimpy costumes, they're giving you free alcohol, there are bells and lights and things like that, which don't necessarily seem related to the odds of the gambling. But these are cues that might activate brain regions that encourage risk-taking and therefore get people to gamble more." So let's get this straight: Men subconsciously crave half-nekkid women, and women subconsciously crave brownies?

Irrelevant Image Of Attractive Woman Can Make A Man More Willing To Take Big Financial Risks [Science Daily]
Earlier: Delicious Scents Make You Drop Cash

But is this kind of "anything goes" shopping really shocking? Even if you do have loads of money, not everything you need can be found at Neiman Marcus. Target has swept the nation with kooky ad campaigns and quality products, but in a world of $26,000 handbags, aren't all women just thankful the so-called "discount" stores like Target, Kmart and Wal-Mart carry items that are priced realistically?

High-Income Women Covet Luxury, Still Eye Bargains [Reuters]