I was a bit bemused to find my favourite newspaper encouraging sensible Germans to save less and spend more.
The Economist has been the way I ‘connect’ with the real rather than the virtual world over the last ten years and I think it may have just lost the plot.
We are being encouraged to save more – or at least pay off our own debts – and buy less so that we don’t get into debt in the first place. To find a voice that is so usually sensible suggesting that a nation of savers has got it all wrong is a bit of a shame.
Germany is Europe’s best hope of encouraging a change towards responsible citizenship, enlightened laws, local action and green industry. I wonder if Cameron, Osborne, et al will berate Merkel for her country not buying enough tat. Hopefully not.
Having just bought something of value – a watch – the first one I’ve bought since 1995 (or worn since 2003 if I’m honest), we should indeed be saving more and spending less.
Tut, tut Mr Economist. Go for it Mrs Merkel… get those Euros in the bank.