Most people were pissed off when the CEOs of the big three automakers traveled to Washington in private jets to ask for a bailout. It was like having a beggar come up to you on the street and ask for $20 while checking his email and listening to Rihanna on his iPhone.

The economy being what it is (and what it has been), flashing any kind of bling is suddenly very taboo. Times are so rough that no one wants to be “that guy” flaunting his money when everyone else is eating Ramen and counting their pennies.

The first article is about people buying cheaper wine—but more of it. It also mentions that corporate gifting isn’t including “traditional” things like bottles of Dom Pérignon. Why? It would send the wrong message to business partners and clients. As the article says, “Dom Pérignon is like taking the Learjet to Washington.”

In the case of the New Yorker article, people are still buying expensive stuff but simply want them wrapped up in plain bags. In other words, they’re brown bagging it. Those little blue boxes from Tiffany’s (TIF)? Don’t expect to see too many of them being shown around.

But what does this say about Americans and how we react to tough times? It’s always been said that high-end products will continue to sell because the rich will always be rich, a 35% drop in the stock market be damned. But when an economic black swan—aka, a disaster—comes along and ruins everything, do rich people really change their behavior, or do they just pretend to change their behavior?

This also got me thinking about Wal-Mart (WMT), one of the few businesses that has actually done well over the past year. Lately they’ve been trying to lure in customers that traditionally don’t shop there (i.e. richer people). Things like carrying the iPhone and their trendy fashion line that went nowhere in 2007 are just part of a strategy of changing their image. If fewer people see Wal-Mart as “the place where the poor shop,” the more customers they’ll get in their doors with their low prices.

In other words, they’re trying to become more like Target (TGT).

I know people that offer a horrified look when I mention going to Wal-Mart. They won’t say it, but you can tell what they’re thinking, “Ugh! I would never go in there!” To them, it’s like teenagers going to the mall with their parents.

Will we ever see Bill Gates and Will Smith buying stuff at Wal-Mart? Maybe not, if you catch a glimpse of Bill Gates or Will Smith with a Wal-Mart bag, make sure to ask them what’s inside. You might score yourself a bottle of Dom or some other expensive goody.

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