For those of us who have lived through past recessions, this latest development comes as no surprise: as the US economy worsens, we’re now being told that consumers are hurting the economy because they are saving too much money. This is a pretty common trope among the regime economists whose job it is—apparently—to incessantly harangue the American consumer into spending every last dime he has on corporate America’s trinkets. After all, if the consumer saves “too much” money this will send the US economy into a liquidity trap. At least, that’s how the official narrative goes. Regular readers of mises.org won’t … Continue reading
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