There are not two distinct decisions ... one to spend out of income and a second to save out of income. There is only the one decision ... whether or not to spend out of income. The sum total of disposable income not spent is the sum total of income saved.

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.