Fashion and the Economy

I just went to the California Market Center. All the manufacturers that I had spoken with were feeling the effects of the economy. Then, I went to the Happy Hour at the Market and the majority of retailers were feeling the effects. Next, I opened a fashion magazines. It said "companies in the fashion industry should just be able to close their doors for two years."

What are your thoughts on the economy? When do you think it will get better? What fashion trends do you think are in demand?