Whither the Economy?

I think many of you have heard that Louis Vuitton opened another new store in Omotesando recently. The media say that the sales on opening day reached JPY125m. Apparently, this is a record for a single store. More than 2,800 people visited on opening day, including 1,400 young women who spent up to two days lining up for over one kilometer to get in! The store is a good size: 8 stories aboveground and two floors underground -- all together there is a total of 3,300 sq./m displaying more than 1,500 products.
In this economic downturn, it is unbelievable that Louis Vuitton's sales increased to JPY117.9bn in 2001, a 17.6% increase from the previous year. I'm sure they're happy with the great success, but, it this is not a healthy picture. The Japanese economy is in the pits and a recent survey found that there were 1,718 bankruptcies in July, leaving behind debts of JPY1,161bn. Indeed, an average 1,725 companies have gone bankrupt every month since the beginning of 2002. Unemployment for July was is 5.4%. Deflation is getting worse -- and yet... people are willing to spend so much money on the goods to show their status.
I wonder where the Japanese economy and our society in general is heading...?