Who do you think has job security at this moment and, what would you think about the people a year from now who thought they had job security, spent freely and went into debt and then lost their job?
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Who do you think has job security at this moment and, what would you think about the people a year from now who thought they had job security, spent freely and went into debt and then lost their job?
If everyone goes into brutal saving mode, that scenario is guaranteed to take place.
In the next collapse (there is always a next) and people are defaulting on their loans and needing taxpayer support, you can congratulate them for trying to keep the economy afloat, as they are doing their best to spend their way into prosperity.
While it takes money to make money, that doesn't mean one party is doing both sides of the equation. It takes many people spending for a few to make enormous amounts.
It is no use to deal another brutal blow to the domestic service industry right now.