Iphone Wallet Leather

What are "status symbols" in our society?

Recently, I got a nice bonus at work so I decided to treat myself. I got a fancy leather wallet, an iPhone, and just come other nice upgrades.
After having my friends over and they noticed my things, they automatically changed my status from middle class just because I had certain possessions like a Louis Vuitton wallet.

What are other things in today's society that signal people have money? Are these things really true indicators of wealth or is it all just a game?

What's your take on the suitation?
It'll be interesting to hear what everyone has to say....

Status symbols serve to bolster an already bruised ego or lack of self awareness. The respective void inside is filled then.

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