The economy is stalling out. Oil prices way up. And so is environmental awareness. Just like the Carter era and the tail end of the Daddy Bush era. Disciplined and sharp looks so keen in the 50's and 80's are moving aside for the bohemian, for relaxed lines, abstract jewelry and embellishment. Earth tones, natural fabrics, and knits bring forward the 70's hipster along with the 90's eco and grunge influences. Look for sexy slouching and blase' lounging. Also collar-up sullenness. European and U.S. looks might diverge wildly as the Euro and dollar rise and fall respectively.
These looks from recent fashion week runways in Milan may be targeted to Italians, but similar looks have already been showing up here in the states. Particularly in women's suits.