This is a cute story, but recessions are not self-fulfilling prophecies. When people tighten their belts and adjust to economic reality, the economy as a whole adapts to a recession and prepares to get back out of one.
Interesting wikipedia article. Thanks for sharing. I have only a limited exposure to economics.
From a mostly layperson's perspective, however, in a credit crisis, it makes sense to increase loanable funds, therefore saving may be very good for the economy in the long run.
I think.