America's low savings rate

[Gordon Fitch]

Doesn't the savings rate have to strike a rather narrow
balance for the ideal functioning of capitalism?  If the
folk save too much, they will not consume enough, and a
depression will ensue.  Moreover, their savings will make
them more independent (at least in theory) of the ruling
class; for example, if I have twenty thousand in the bank
I'll eat much less shit at work than if I have nothing.
Finally, if they save substantially, they will be cutting
undesirably into the main trade of the upper classes:
holding wealth.

On the other hand, the less well-off, since they get poorer
rates of interest, and are not well-informed or well-organized,
must be seen as a valuable source of cheap capital, as long
as they keep their shoulder to the wheel of production and
consumption.

If what I guess is the case, the savings rate is probably
finely tuned by the ruling class under normal circumstances
and, from their point of view, the rate is not actually too
low or two high even though pundits whine mightily.