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Doing some unrelated research & came across this piece from 1964 (see attachment). See how this compares to today from article at Households get the savings habit as recession bites - Telegraph
By Paul Farrow
Last Updated: 1:40PM GMT 27 Mar 2009
The household saving ratio jumped to 4.8 percent between October and December, the highest since the start of 2006, from 1.7 percent in the previous quarter.
"Households have been helped by the cuts in interest rates and are reluctant to spend because of the economic climate," said Philip Shaw, economist at Investec.
So, are we going back to the old times or just temporarily "on the wagon" ?
By Paul Farrow
Last Updated: 1:40PM GMT 27 Mar 2009
The household saving ratio jumped to 4.8 percent between October and December, the highest since the start of 2006, from 1.7 percent in the previous quarter.
"Households have been helped by the cuts in interest rates and are reluctant to spend because of the economic climate," said Philip Shaw, economist at Investec.
So, are we going back to the old times or just temporarily "on the wagon" ?
