Knowing there’s a £379bn pensions gap, being told to save less is hard to understand. But Charlie Bean (deputy governor of the Bank of England)is urging consumers to stop saving and get buying again. The main cause of the global economic crisis was the excessive debt and the economy can’t start to work properly until this debt is brought back to more reasonable levels, this according to Justin Urquhart Stewart is far more important to the economy than consumers spending more. Jeremy Batstone-Carr thinks Bean's underlying message may have been spend while you can because tomorrow, your savings will be worthless – hyperinflation is a much more serious problem than deflation and we may have already taken the first steps to this situation because of the huge amount of support already pumped into the economies.
Magali Vervaele
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