This Fall you will definitely notice a commonality between the season's trends, they're all depressing. H&M, Banana Republic, and Gap are featuring distinct trends and styles of the Great Depression. Pieces like pencil skirts, vintage dresses, conductor caps, and that depression color, gray, will reflect that urban poverty look aka the "newsboy". The boyish look consists of pin strips, baggy pants, vests, and a cap and can probably been seen in pieces of many looks this season.
It seems as though both fashion and the economy are on rotation. So it's not surprising when the economy hits the low now, like it did in the 30s, fashion will instinctively follow suit.