I read this article and thought of my pop, who i imagine (were i to bring this to his attention) would, while looking over his glasses at nothing in particular, deadpan "well it's good for the economy", unwrinkle his brow and turn back to his japanese.
But seriously, in an economic system in which savings and investment overwhelmingly benefits the owners of capital, when income is rising doesn't it make sense to spend some of the increase?
That seems to be part of the american consumer culture, and the negative savings and negative attitudes toward saving its negative reflection. and how does consumer saving stack up in the era of budget surplus (correct me if I'm wrong to see these in the same category). you can't sit on or drive a stock certificate, so why not an ikea sofa suite or a new car?
Anita