Recession, schmession. We're not tightening our belts for any looming economic downturn.

Er, rather, we're not tightening the straps on our handbags.

When it comes to handbags, some of us seem to live in an alternate universe where there is no such thing as "budget." Forbes has picked out this (and next) season's "It" bags - those bags for which we won't be shy about taking out a second mortgage on our homes.

• Hermes Kelly bag ($5,000+)
• Richard Prince for Louis Vuitton Motarde Frame Bags, $4,080
• Carlos Falchi Matte Python Clutch, $2,710
• Roger Vivier Belle $956
• Kate Spade Orchard Street Rae Tote, $625
• Kooba Lola Tote, $645
• YSL Majorelle, $1,895
• Gucci Queen Medium Hobo, $1,650
• Marc Jacobs Robert Bag On Bag, $2,100
• Marni Fold-Over Frame Tote, $1,485