It's not a bad thing to spend less of course, but the point at which we should do that is not now. It's when we AREN'T in a recession that we should spend less and save more, then there very likely wouldn't be a next one. Or if there was, it would be much shorter and much less worse since we could all draw on money saved when times were up. We always do the wrong thing at the wrong time. People are selling stocks at the lowest point they are likely to ever get and completely screwing themselves, when it's one of the fundamental rules of stocks that you shouldn't, and that causes more stock panic which lowers the price even more and more people bail out and on and on.
It's really kind of a wierd view of herd mentality that's pretty instructive. A person is smart, but people are stupid.
Yes, agree with everything. Funny too because the stock market is built entirely on faith. We have this system set up where everyone is borrowing money from each other and paying it back on interest. The entire market is built on the idea of popeye. If you give me a dollar today, I`ll give you a dollar and a dime on Tuesday.
However, to take this one step further, we have borrowed more than the system can comfortably allow and the system is starting to crack. So at this point, its not about faith anymore, its about being practical.
If your output exceeds your input, then your upkeep will be your downfall.