I predicted, very early on in this crisis, that consumers would react to it the way that consumers always do in situations such as this, which is that they would save.
Data in the FT suggests that I was right: the tendency to save has been very pronounced in five EU countries
Entirely true, the savings rate is up, this does normally happen.
If the new savings that people now want to make were redirected for social purpose then there would be a way to use them to keep jobs going and build the future we really need.
Why redirected for social purpose? Investing in anything attains that same goal……