In the News (from Nielsen): “Global consumer confidence increased one index point to 92 in Q3 2012, and is up four index points from the same period the previous year (Q3 2011), according to global consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. …
“Seven in 10 global online respondents (69%) changed their spending habits to save on household expenses, an increase of two percentage points from last quarter and three percentage points from a year ago. Half of global respondents (52%) said they spent less on new clothes and cut back on out-of-home entertainment expenses (48%). Other actions taken by global respondents include saving on gas and electricity (47%), switching to cheaper grocery brands (39%) and cutting down on telephone expenses (33%).”
My Comment: Forced savings will not save us, but it will help us in the transition to a new economy of reasonable (necessary) needs, and the rest of our resources and energy should be directed at the development of a homogeneous integral society.