In all the media and other
debate about the economy and the rest it is remarkable how little is said about
savings, that is real saving, and its function in making economies work.
Picked up from Frances
Coppola is a link to a web site Save Our Savers that tries to redress this
imbalance. A recent post tells us that suppressing savings is bad and a key cause of many of the problems we face.
It is not a long read but
worth the time because how any of our media and governing structures can be
persuaded to look very hard at all the damage and risks that ignoring, or even
destroying savings can entail seems to be almost impossible.
As we seem almost to be
heading for a society where saving is no longer a part of ordinary life in
handling money but high levels of debt are and we are urged to spend spend
spend regardless of whether we are buying rubbish or value it could be a very
unhappy future for many.
This is compounded to the
degree which pension funding, once a key form of saving is being radically
changed and many now face a future of lower pensions if any.
Add to that policies that
are inflationary allied to statistics that understate it and it is possible to
see that collapsing the savings could lead to contributing to the collapse of
economies.
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