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die Prasserei (-en)
   extravagance, extravagant living, high life, living high on the hog; feasting; debauchery, gluttony

Proteste gegen Prinzen-Prasserei (Schlagzeile)
Protests against the prince's extravagant living (headline)
SPIEGEL ONLINE zeigt, wie wir fast alle von der gigantischen Prasserei profitieren.
SPIEGEL ONLINE shows how almost all of us profit from massive extravagance.
Reese Witherspoon: "Ich versuche mich von jeglicher Prasserei fernzuhalten."
Reese Witherspoon: "I try to avoid any extravagant spending."

Related:
prassen to feast, live high on the hog, live extravagantly
der Prasser/die Prasserin extravagant person; glutton, spendthrift, wastrel
   das Gleichnis vom reichen Prasser und dem armen Lazarus the parable of the rich man and poor Lazarus
das Gepränge pomp, splendor, ostentation

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