In the week following the last-minute debt deal, the stock markets plummeted, giving many flashbacks to the dark days of the 2008 financial crash. The steep dive took place Thursday, when the Dow Jones Industrial Average fell by 513 points, or 4.3%, which doesn’t sound like that much, but it’s a lot, a lot, a lot. In fact, it’s the biggest one-day percent drop in the past 2 years. The other averages that are used to measure the stock market, the S&P 500 and the Nasdaq, fell by 4.8% and 5.1% respectively that day. This obviously isn’t good news for our not-so-hot economy, as the stock market is used to predict what will happen financially in the future, and you can bet this will be THE (somewhat boring, but important) topic on the tongues of the Republican presidential candidates.

“Alexander McQueen: Savage Beauty,” an exhibition at the Metropolitan Museum of Art in New York, closed yesterday with record-breaking attendance numbers. The exhibit featured some of the McQueen’s most iconic designs, including Lady Gaga’s favorite- the lobster claw shoes. The museum confirmed that over 625,000 people viewed the pieces, making it the most viewed fashion exhibit in the history of the museum and placing it among the Met’s “top 20 blockbusters”. The show was extended twice to accommodate the crowds, and on the final 2 days, the museum stayed open till midnight. There were so many people that the wait to get in was as long as 3 hours.

Hosni Mubarak, the toppled, former president of Egypt, began trial on Wednesday on charges of corruption and complicity in the killing of protesters. Before his presidency ended in February at the hands of a youth-led revolution, Mubarak was the longest reigning leader of modern Egypt. For many, the image of Mubarak in prison whites, wheeled into the court-room on a stretcher, symbolized how far the nation has come from when it was in his oftentimes tyrannical grasp. Despite the solemnity of the proceedings, things took a somewhat chaotic, bizarre turn as the 30 (yes, 30!) attorneys representing the families of deceased protesters fought for the judge’s attention (not to mention the 130 waiting outside). One of these lawyers suggested that, in fact, the man in the courtroom wasn’t Mubarak but rather a clone or look-a-like, and that the real Mubarak had died in 2004. Another surprising turn? A recording of the defendant saying “I completely deny all these charges” quickly became a popular, downloadable ringtone. Can you imagine hearing that go off in the middle of class?

Outkast’s Big Boi, a.k.a. Antwan Patton, was arrested for drug charges on Sunday. The rapper was shaking like a polaroid picture (sorry…) when he was taken into custody by Miami police. Airport officials searched his luggage and found ecstasy, MDMA (the technical term for molly), and illegally obtained Viagra. His lawyer claims the drugs belonged to Big Boi’s entourage, who probably won’t be his entourage anymore after hearing how he threw them under the bus! Bail was set at $16,000- chump change for the famous artist.

Pic o’ the Week:

Photo Credit: AFP

Angered over the death of a 29-year-old cab passenger during a police traffic stop, protests spread across Tottenham, a district of London, on Saturday night. Several buildings, shops, and cars were destroyed and 55 people were arrested.

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Fun fact about color – any color in the spectrum that is a mixture of blue/green can be referred to as a cyan. Under this broad term is the ever popular turquoise and many similar shades of fabulous.

This year, Pantone named turquoise the color of the year, and items in this hue have turned up in pretty much every store this season.  Turquoise is a a color that people respond to positively. Wearing it will give off good vibes, which is perfect for summer! The color is universally flattering, meaning everyone can find a piece perfect for their wardrobe.  And, a popular choice for jewelry and accessories, turquoise can add a pop of color to make your LBD stand out, while a bold dress or skirt in the color can take those neutrals to another level.

As people associate turquoise and other similar shades with water, cyan allows those ladies landlocked like myself to channel the ocean vibe even if they’re hundreds (or thousands) of kilometers away. Oh, and it looks great with a tan. Yeah, turquoise rocks.

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Behold: Alexander McQueen’s final collection.

Move over Rodarte sisters, Jean Paul Gaultier is taking over everyone’s favorite store and the wait is finally over. On Sunday, March 7^th, Gaultier’s collaboration with Target will be available in 250 stores nationwide.

But with rumors of the line not being confirmed until October of 2009, the buzz may have been bigger than the line itself.  Consisting of 20 looks, the line will only be available in a fraction of Target stores for about 5 weeks (until April 11^th).  If you don’t happen to live near a chosen location, don’t fret; thank God for the World Wide Web.

Gaultier is following in the footsteps of several designers including the late Alexander McQueen and Anna Sui.  The series of designer collaborations has inspired a cheap-chic movement, allowing the average American woman to feel of a higher status without breaking the bank.  Each designer has been inspired by a certain fashion icon or muse to distinguish their lines from the rest.

So who will Gaultier’s line represent?  According to Target, the line will pay tribute to the American woman, and reflect style of past and present pop culture.  Infamously known as Madonna’s costume designer, we would expect Gaultier to produce variations of corsets, crazy colors, and God willingly a pointy-bra in the collection.  Also, as one of the first designers to introduce innerwear as outwear into mainstream fashion, elements of this style were shoe-ins to the collection.  Or so we all thought. Much to everyone’s surprise, none of the looks reflect anything of Madge status, and there are no signs of structured innerwear anywhere, which Gaultier has been showing on the runways for seasons.

Instead, the collection features classic patterns of stripes and checkers in variations of dresses with little to no structure.  Each “look” consists of about three different pieces that seem plain or “done before” when pulled apart from each other.  The only piece that represents Gaultier’s aesthetic is the “mesh tattoo-print leggings.”  However, instead of translating to edgy street-style, they look cheap and cheesy.  If paired with the wrong dress, they may even come across as trashy.  Some of his graphic t-shirts are interesting, but are no different than t-shirts found in any other mass-market retail store.

As far as price point, while the collection is affordable, it is not cheap by any means.  The cropped leather jacket is priced at $200 (!!), and is not substantial enough to be a staple in any wardrobe.  For the rest, each item does not seem expensive (typically $30-$60), but to create each look as they are being presented, you would have to purchase about three pieces.  According to my outstanding math skills acquired in Calculus, this means that each outfit is roughly $100 or more.

Even if Jean Paul Gaultier is printed on the tags, it may not be worth it.  Take a look and see yourself!

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Considered to be shy, McQueen preferred to conduct interviews with his back to the camera. But that didn’t keep him from befriending celebrities, stylists and designers; it is obvious that in reading the responses from his peers, McQueen was held in high esteem in the fashion world. And that world was rocked when news of his death broke just as New York Fashion Week began.

McQueen started his trek to the fashion top right out of school, selling his final collection created at Central Saint Martin’s College of Art & Design to Isabella Blow in 1992.  At age 27,  with only 8 collections under his kilt belt, McQueen became the Designer-in-Chief for Givenchy – replacing John Galliano.  He was eventually deemed too avant-garde for Givenchy and left to design under his own label, which has since seen tremendous success.

Throughout his career, McQueen won British Fashion Designer of the Year four times, named International Designer of the Year by the CFDA, honored as a Most Excellent Commander of the British Empire and named British Menswear Designer of the Year. Edgy, talented, inspirational and controversial, he was truly one of fashion’s greats.

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Photos Courtesy of Style.com

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For us fashionistas, New York Fashion Week (which kicks off today!) is the highlight of the year (or at least the highlight of this dreary February we’re having). Our CollegeCandy hearts always skip a beat when we see those white tents going up in Bryant Park.  The clothes, the shoes, the celebrities, the glamour… Sigh. It’s almost too much to bear.

Until the day we’re rich, famous, and, oh yeah, invited to this exclusive event, we’ll have to live vicariously through TV and internet coverage.

Still, even if we don’t have Heidi Klum’s front row seat, we can’t wait! We’ve got our DVF wrap dress on (courtesy of some serious Ebay-ing), we’re sporting the Anna Wintour helmet bob, and we’re counting down the minutes for the fash-insanity to begin.

Below, the five things we’re looking forward to most about NYFW Fall 2010.

1. The Project Runway Finale

OK, so we don’t know quite yet which three (or four) designers will be walking their designs down the runway in Bryant Park, but who cares? This season is kinda boring, anyway. We just want to see what those little guys and girls are made of… and all the celebs/Project Runway all-stars from season’s past that show up to see it all go down.

2. The Designs! (Duh)

The excitement of just looking at the beautiful designs I’ll never be able to afford makes me weak in the knees. BCBG? La Perla? Badgley Mischka? Yes, yes, yes! But even though I will never own a Chanel LBD, I flip through every last runway photo to see what the new trends will be so I can load up on their more affordable knock-offs.  Will my leggings and skinny jeans still be OK? What about gladiator heels? And for God’s sake, please tell me I don’t need to invest in shoulder pads!

3. The Celebrities

While the focus of Fashion Week should be on the runway, I like to focus on the seats. As in, who is in them. Where are they sitting? What show are they at? What are they wearing? I mean, what would Fashion Week be without Rachel Zoe, Anne Hathaway, Chloe Sevigny, Nicole Richie, and…wait for it….

4. The Jersey Shore Cast???

It is rumored that our favorite Guidos will be rubbing elbows with Anna Wintour at Fashion Week, blowouts and spray tans intact. Although J-Woww’s breast-baring tops and ripped jeans don’t exactly scream “couture,” I love these guys and can’t wait to see them hob nobbing with this elite, high-fashion crowd.

5. Fashion Road Kill

Picture a beautiful model decked out in the most expensive designer clothes strutting her stuff down the runway.  It’s so easy to hate her….that is, until she eats it in front of thousands of people! It happened last year in New York, the year before in Milan, in 2006 in Paris, and with any luck (and Alexander McQueen’s Alien shoes) it will happen next week.