I find this ode to consumerism quite distasteful. Sure, buy quality items if you can afford them, they'll often be worth the investment - but choosing to be frugal because of difficult financial circumstances is a good thing.
Most people don't need half of what they buy.
As for 'being fugal makes you a loser'; I think if the choice is being seen as a loser by the author of the article, and being broke and / or in debt - I'd definitely choose the former.
I'd possibly understand if this kind of rationalisation came from a government wanting its citizens to spend their way out of recession. Coming from a free thinking individual, it leaves a bad taste in my mouth.