Does fashion really reflect the times we live in? I certainly believe it does - which must be the reason that this autumn there's a big trend for pared-down styles and a long, lean silhouette.

Although the designers probably weren't thinking of the imminent chaos at Bear Stearns or Northern Rock when they made a collective bee-line for charcoal grey, it's unquestionable that fashion taps into the general spirit of the times, in just the same way that art and theatre can.

It's far easier to judge fashion's role in the Zeitgeist through the prism of history (do you really want to think that your new Yves Saint Laurent dress is a product of falling property prices?), but I don't think it's any accident that this season is very austere.

The question is, in difficult times do we really want to dress so severely - or would we rather indulge in flamboyance? This autumn, there is a graphic simplicity to many of the clothes - the woollen shift, the unadorned cocoon coat, the collarless jacket, the tabard-shaped tunic and the long-line, wide-shouldered blazer.

Of course, for the many women who can't bear more decorative clothes, this is a good thing. It's been a long time since there was such a streamlined trend in ascendance.

If you like a tailored look, then this is your moment. Certainly, there is a large constituency who feel at their best in a pair of well-cut pants and a plain black jacket, for whom the painted and floral fabrics of the summer were hell.

This autumn, trousers in all different shapes are as fashionable as dresses were last. Even brogues are making an appearance.

I would suggest, though, that if you are going to adopt a more minimal stance, it's worth looking at a pair of great shoes or ankle boots to provide the excitement.

Buckles, straps, lacing and rivets are the details to go for, and a high heel and platform will help balance the more androgynous clothes.

But be warned: a lot of the new shoes have a turned-up toe, which I personally find a bit difficult to take. But try some on and see what you think. If you feel comfortable with them, then give it a go.

Print of the season

The print of the season has to be Dries Van Noten's delicious marbled silk. The rich colours swirl into each other to create an almost edible mix. They are the perfect antidote to the dark neutrals of autumn and will no doubt be appearing in a cut-price version on the High Street soon.

Is Whistles the new top shop?

The much-heralded revamped Whistles collection has arrived in the shops.

Jane Shepherdson (ex-Topshop visionary) and her team have set out to reinvigorate a brand that used to be a must-look back in the Eighties, but in recent years has lost its fashion edge.

Whistles used to be the perfect place to find work clothes with a bit of a fashion twist, sourced both from their own brand and from bought-in designers. This market is an under-catered-for segment on the High Street.

Jane was credited with masterminding the reinvention of Topshop, transforming it from a mass market sprawl to everyone's favourite High Street fashion fix, so the spotlight is keenly trained on what she's going to deliver at Whistles.

Look for really nice and well-priced knitwear, cool coats, neat vintage-style blouses and chic jewellery. There will also be a good choice of trouser styles, though the Whistles store I visited last week still had only one.

The sizing, though, is on the slim side (why do so many companies not take on board that older women want to wear these clothes, but they need just a bit more fabric?) and the hemlines could do with being a fraction longer, particularly evening wear.

Britain wins the gold for naffness

I cannot be alone in thinking that the British offering at the closing ceremony of the Olympic Games was one of the most laughably excruciating performances of all time.

Boris was fine and looked suitably delighted to be there, but what on earth was someone thinking about letting a load of indifferent dancers wielding umbrellas ponce about the stage while some poor chap in a wheelchair failed to make it onto the bus.

One can only assume that Simon Fuller had been brought in somewhere along the line, since both Leona Lewis and David Beckham (his clients) held centre stage.

We can only hope that by 2012 a first-rate theatrical creative will have been employed, along with someone with proper design talent to dress the lot of them.

The British choir were turned out in what looked like salmon velour tops and unappealing shorts, while the performers were kitted out in a motley mix of unacceptably hideous clothes which will do little to combat the general impression of British style as 'eccentric'.

The Brits once used to be pretty good with uniform and ceremony - but that's if you go back to the days of Waterloo. Since World War II it's all been downhill.

If we can't get the look right, with people appearing not only stylish and modern but just a bit splendid, too, then I'd far rather see a military band.

It's super to have you back, girls

I love the idea that it is somebody's job to look at the advertising pages in Vogue and count how many of them feature the famous Eighties supermodels. But that exact task has fallen to some lucky person - resulting in a report that states that major fashion houses have returned to the tried-and-tested favourites for their campaigns this season.

There's Naomi Campbell for YSL, Linda Evangelista for Prada, Claudia Schiffer for Chanel, and Stephanie Seymour for Loewe.

All these women look amazing and, frankly, scarcely older than they did at the pinnacle of their modelling careers 15 years ago.

And I can vouch for the fact they really do look good - it's not purely the result of retouching. Quite how a life of frequent flying, parties, late nights and alcohol has resulted in their being so well preserved is, of course, the real question - but, sadly, I am not able to answer that.

The reason they are being used again now is not just that they look wonderful, but because they are famous - unlike the raft of high-earning but little-known models of today, such as Dane Freja Beha Erichsen and Canadian Daria Werbowy.

When it comes to selling magazines, readers prefer to buy ones with people they recognise on the cover, and that probably applies to advertising campaigns too.

So why is it that for more than a decade we have failed to produce any really internationally-famous models? With the current exception of Agyness Deyn, and her trademark peroxide crop, very few of the most highly-paid models have carved out a recognisable persona for themselves.

It's a blame game, with magazines, photographers, model agents and designers all finding the root fault with someone else. But it's telling that the influential Miuccia Prada, the designer often credited with an insatiable desire for new modelling flesh, has turned to Evangelista in times of global economic uncertainty.

You will also see that perfume companies are turning to traditional nostalgic scents and bottle shapes for their new launches - no weird torsos for now.

Familiarity does not breed contempt. It sells.