Not only did your overspending cause the recession, your underspending - Nielsen'sFeburary Economic Current predicts consumer saving rates will rise from 1.7% in 2008 to 5.1% in 2009 - is going to deepen it. America's new thrift ain't a fad, and will destroy it, like Japan, says NYT. Over there, having gone through a decade-long recession, well-off families do horrible things like use bath water to wash the laundry, hold back on flat-panel TV purchases when they know the prices are going down, and there's an overall disinterest in new cars and luxury goods. Bastards!
So spend, spend, spend like it was Spring 2008!
When Consumers Cut Back: A Lesson From Japan [NYT]
Nielsen Economic Current Debuts [Nielsen]
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