Extravagance, irrationality and Diophantine approximation

For an invariant probability measure for the Gauss map, almost all numbers are Diophantine if the log of the partial quotient function is integrable. We show that with respect to a ``continued fraction mixing'' measure for the Gauss map with the log of the partial quotient function non-integrable, almost all numbers are Liouville. We also exhibit Gauss-invariant, ergodic measures with arbitrary irrationality exponent. The proofs are applications of our study of the ``extravagance'' of positive, stationary, stochastic processes. In addition, we prove a Khinchin-type dichotomy for Diophantine approximation with respect to ergodic``weak Renyi measures'' which are ``doubling at $0$''.