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It's how people indicate class in the absence of clear social markers as would have been present in the past (clothes, accent, geography etc.)

It's also why so many people who aren't from the upper class wear 'bling' or buy a house that's too big or a flashy car -- conspicuous consumption as a 'fake it til you make it' method of deluding the gullible.

Con men have great suits and will tell you that they're in 'finance'.

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