What recession? While much of the population is considering soup and grilled cheese for dinner for the forseable future, the well-off have these exciting new baubles to look forward to: Louis Vuitton has launched two new patented diamond cuts. One is a rounded-cut flower diamond, and the other is a pointed-cut flower diamond.

The LV diamonds have between 61 and 77 facets, and are set into various pieces of jewelry, including a necklace with 108 carats of diamonds retailing at $4 million. The collection has been named "Les Ardentes", which translate as "teh blazing."

Just as the LV bags and accessories have been cheapened by the shoddy knock-offs that are available on every street corner and every mall kiosk, you can be sure that somewhere, someone's already designing a look-a-like cubic zirconia version.