By  on February 4, 2008

As New York Fashion Week kicks into high gear, everyone from the designers in their ateliers to the retail executives in the front row and perhaps even the models on the runways has one word on their minds beginning with the letter "r" — and it isn't the color red. It's recession.

Suddenly consumers, that engine of the American economy, think it's unfashionable to spend money. The credit markets are tight; the stock market is dyspeptic; major U.S. financial institutions are having to turn to China and the Middle East for

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