Tuesday, 10 September 2013

Savings Are A Girl's Best Friend

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.

No comments:

Post a Comment