The fiction of the independent power of "savings" is very useful for justifying policies in favor of the wealthy, but not very useful for actually following what is going on with an economy. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
I don't see really the point you want to make. Der Amerikaner ist die Orchidee unter den MenschenVolker Pispers
The next round effect of the decision is the loss of spending, both in terms of a reduction in exogenously financed consumer spending and a reduction in the propensity to consume out of income. So the consequential dimension of the decision is the decision to cut back on spending. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
