It may seem shocking to some, considering this woeful economy, but Fashion Week begins in New York Thursday and builds momentum until its conclusion the following Friday. Think of it as the big business it is, not the frivolousness you disapprove of.

Already the experts are predicting the coming trends, but you can be the first on your block to know …

Inspiration: In seasons past when bling was the thing, it was common for designers, in those grand exhales for which we love them, to say their collections were inspired in some pretty farfetched ways. For instance, a particularly famous Christian Dior collection, extraordinarily beautiful we might add, was designed by John Galliano. Galliano said his inspiration was “Pocahontas on the Orient Express.” Fabulous!

However …

Mindful of the economy, and with everyone worried about the security of their jobs or trying to find new employment, this season fantasy is "out" — and what’s "in" for "inspiration" are chic clothes consumers might invest in to wear to work and job interviews. Expect lots of "Mad Men" references and influences. Maybe some Doris Day, too, and, of course, lots and lots of First Lady Michelle Obama "shout-outs."

Color: Black is the new black — always safe, always perfectly appropriate in challenging times for work, for dinner, for buddy-can-you-spare-a-theater-ticket …

Tres Chic: Yes, there will be some fantasy, if not in abundance in New York or Milan, than certainly in Paris, when the Fashion Circus arrives in the City of Light next month at the end of three-plus weeks of fashion shows in New York, then London, Milan and Paris.

Designers such as Oscar de la Renta, Carolina Herrera, Vera Wang, in New York, and John Galliano, Karl Lagerfeld and Alexander McQueen in Europe feel it is their obligation to keep the flame of fashion fantasy alive.

“There is a credit crunch, not a creative crunch,” John Galliano said recently.

Asked if the global financial woes were affecting fashion this season, Karl Lagerfeld answered, “only the conversation.”

Power Dressing: Or, "dress for success" — see aforementioned “Mad Men” references — got a bad rap during the hipper-than-thou bling years, but now that everyone is scrambling for their work lives, sartorial seriousness — not "Cocktail Barbie" — makes sense. Dress-down Fridays will become extinct and women — and men — will be dressing sharp, dressing confidently, to convey a seriousness we haven’t seen in years.

Just hoping the 1980s wide shoulder pads do not make a return, but they might. At the recent Armani Prive collection shown in Paris, there were plenty that would have made Alexis Carrington’s day.

"I Gave My Seat to a Colleague Who Really Wanted It": This is a euphemism for “I was cut from Marc Jacobs’s show.” To save money, as well as lower the glitz and bling factor, the designer’s guest list for his February 16 show has been cut from 2,000 guests to 700, of which 500 will be seated and 200 will stand. What a winter of fashionable discontent this will bring.

"That Dress Is Divine for Wednesdays in Washington": Refers to liking something on the runway and thinking how perfect it would be to wear if and when one is asked to any of the Wednesday evening cocktail parties the Obamas will be giving regularly at the White House, as reported by politico.com. Not since Camelot has social life in the White House promised such a potent, political elixir. What to wear?