What if they start saving again?
Wynne Godley: The US economy (2000), 6 July 2000
“... 6.9 per cent of income, 9-10 per cent below what used to be normal. Whatever this private deficit may portend for the future, it is certainly entirely different from anything that has ever happened before – at least in the US. The general view seems to be that private expenditure has risen because capital gains are being spent; so everything should be all ... ”