Today and tomorrow, in spirit of impending Fall deliveries and the Spring 09 season, we're going to wrap-up our top five favorite Fall 08 shows. We indulge in plenty of independent and contemporary fashion and we're just in the mood for some old fashioned high design. To start, our ultimate favorite, Prada Fall 08. We never disliked this collection, not from the first moment we set eyes on it, but we will say that over the months the thing has taken on a whole new shape for us. When we first saw the collection we likened the lace to the recession and thought it was slightly unwearable but smart and editorial-friendly. These ideas were realized and now we've seen the lace everywhere, from six Pop covers to the red carpet to the already-delivering knock-offs and since then, we've really fallen in love. There's something so sexually repressed and yet aggressive going on, something that puts contemporary fashion, quite literally, to shame. Prada Fall 08 is all about opposites: it's transparency versus opacity, femininity versus masculinity, and lavishness versus conservatism. It's safe to say that lace is going to be pretty prominent for the next year. Check out our gallery below and the whole collection here.

We have been leading up to a lace filled fall for some time now. Community member, Style...A Work In Progress has been scouring ecommerce land for the best buys and a few delightful remarks such as this quote from Mary Wilson "it is difficult to see why lace should be so expensive, its mostly holes."

We have already established just how this particular material makes so much sense in the here and now so it's interesting to note the trickling appearance of fall deliveries and just how they work with this precious textile. We in particular like the nearly ubiquitous appearance of the practically cliché black lace granny dress. Everyone from Derek Lam to Phillip Lim has one. The dowdy staple brings somehow manages to evoke sexual fetishization and the appearance of frugality, all while suggesting that aren't we naughty for thinking its either. With the pressure to remain practical in a recession that just begs us to remember the precious its going to be an interesting season indeed for lace. Its just too bad the first inklings of the buy are so damn boring. But we are willing to bet its going to sell very well indeed, its so easy to justify the purchase when really its mostly holes anyway.

It's a fetish-friendly time in the fashion industry. Commodities, the material component of capitalism, are the medium by which we understand value. When material commodities become scarce, the capitalist tendency is fetishize their worth (we do this when they are not scarce but the process is exaggerated when things beginning running out. See the 'limited edition' phenomenon in retail for more). We see these tendencies in the textile industry first.

One of the most poignant shows from the Fall 08 season was from Prada. Lace was at the forefront of the collection and it is this textile, fetishized with or without a recession, that stands as an example of how material culture can represent socioeconomic circumstances. Lace is treated as a kind of 'special' textile simply because it is associated with 'special' Western rituals, like weddings and funerals. WWD reported today on the increasing popularity of the textile, seen from Fall 08 and now Resort 09 collections and it is, quite frankly, not a surprise. We like our commodities, we want to keep them, when they begin running out, we exaggerate the remains so that they become exclusive and valuable. Queue lace, ribbons, skins, and fur. Fashion's response to this recession and the upcoming Spring 09 collections should be quite interesting indeed.

Pretty Legit has turned our attention to Forever 21's incredibly cheap and yet totally darling panties. At first we thought we were simply going to enjoy the look but find ourselves disgusted by the fabrics. But miraculously the collection includes many 100% cotton options. Thus while community members Fashion Indie, Catwalk Queen, and Chic and Untroubled focus in on Kate Moss' return to Agent Provocateur for their new bridal range we think we prefer the cheap chic option for a change. There are plenty of lacy white underthings if you have a rational aversion to debt when getting hitched.

Check out Other Shoutouts

It's scuba season for Miu Miu. This Fall 08 season, Miuccia Prada tricked out the old fashioned scuba uni and transformed it into elegant sportswear. The proportions in this collection made for some uncommon silhouettes, where hips and shoulders where enhanced by way of dropped seams and dense fabric. Having each model's initials pinned to their outfits drew the collection straight back to the twenties, a time when sportswear didn't necessitate sports bras or sweatpants. Lace appeared in a wholly different form than that of the Prada show in Milan, where it turned up rather quirky and laser like. If Wes Anderson and the lifeguard from The Sandlot had a child, and that child moved to Paris and started chain smoking, you'd have something like Miu Miu Fall 08.

We also have impressive designer video interviews and original editorial spreads. May we cordially suggest perusing our selection? Enjoy New York Fashion Week Designer Video Interviews from Oscar De La Renta, Donna Karan for DKNY,Michael Kors, Isaac Mizrahi, Nicole Miller, Erin Fetherston, Ashleigh Verrier , Adam Lippes, James Coviello, John Varvatos , Monique Lhuillier, Joanna Mastroianni, Tory Burch, Neeam Khan