1 definition by Window_licker

Top Definition
An economy which is rapidly declining, yet despite the downward turn in general sales, lipstick purchases increase.
Charles: "I can't beleive my wife Margaret, we're in the middle of a global recession and she's buying lipstick like there's no tomorrow."
Pete: "Yeah, sure looks like the lipstick economy has finally arrived"
by Window_licker May 20, 2009
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