Fundamental change in our economy from consumer savings
Do you think this will have an impact on future consumer spending. With the U.S. consumer representing approximately 70% of our GNP - will this fundamentally change our economy if the consumer saves more in the future?© SolutionLibrary Inc. solutionlibary.com 9836dcf9d7 https://solutionlibrary.com/business/finance/fundamental-change-in-our-economy-from-consumer-savings-7f31
... other financial institutions.
Overall debt will decrease because consumers will reduce their personal debts (by not charging on credit cards, or overbuying).
Unemployment and other social programs will decrease because there won't be so many insolvent taxpayers.
Bankruptcies, foreclosures, short sales, default of student loans, etc. will decrease because consumers will become solvent.
The rate of inflation ...