Remember the 1980s when the Japanese seemed to be buying up all the real estate in New York and California? Or the 1970s when the Saudis seemed to be buying up all the Rolls Royces and gold faucets in the world? These days, it seems like the Russians are emerging as the new kings of conspicuous consumption. Roman Abramovich is building what’s likely to be the world’s largest yacht. Sotheby’s and Christie’s have now added rubles to the list of accepted currencies at their big art auctions. And in London, the top real estate agents are now brushing up on their Russian. In the U.S., even moderately wealthy Russians are pouring in for deals. The new breed of Blingsheviks, as I call them, enjoy nothing more than to outspend the now currency-challenged Americans. An article in the Denver Post by Jason Blevins describes the rich-Russian invasion of Aspen, the winter playground for the wealthy. (In Aspen, it seems the only thing worse that being invaded by rich people is being invaded by rich Russian people.) According to the article, super-rich Russians can be identified by the following characteristics:

Their fashion statements. No beige North Face for this crowd. Rich Russian skiers like to pile on the ankle-length fur, sparkles and “fluorescent-peach” ski suits.

Their demands. They want butlered suites at the top hotels, personal spas, private ski instructors and private jets.

Their rudeness. According to the article, bellhops and valets say the Russians are especially inconsiderate. They rarely show up on time for ski appointments, show no emotion and treat the local help “like slaves.”

In short, the rich Russians are “brusque, flashy and fickle,” according to the article. Of course, it’s easy for Americans to belittle rich foreigners these days. But with the American wealthy pre-occupied with losing millions in the financial markets, the Blingsheviks should be welcome with open arms. Flourescent ski suits and all.