Spending or saving?

So, do any of you people out there try to get this ship on even keel again by infusing your money into the economy? Or do you look at your wallet thinking we may be up for a rough time so better save the money for later?

I definitely belong in the latter camp, and so do a lot of other people that I know.

Because it’s not only the financial crisis – this recession – but also the policies pursued by the current government. In Sweden and elsewhere – it would be hypocritical to assume that what goes on here isn’t a reflection of policy-making in a worldwide perspective.

In my personal case these policies has affected my situation at work. The company I’m with has gotten more heavy-handed (and short-sighted), even more focussed on near-term financials than on long-term survival. This means anyone, even people who regularly turns in a profit or in other ways enables it, can be sacked on short notice just because they did not return a profit this single quarter.

Add the national policies placing the burden on the individual rather on the society – as in a sharing (or not) of the costs for education, health care and such – and I know I’ll have to sit on my money, to ensure I can afford to get a cast if I or someone in my family breaks a leg in the future.

The Swedish government are trying to put some artificial fire in the economy by subsidising different ‘home services’ and home repairs for house-owners and owner-tenants. Such boasts are deemed to be short term, and can only be seen as populist flirting with the electorate.

We have some rough going ahead of us, I’m pretty certain. I’m not going to spend money until I can see a change in policies. Because who knows where my tax-funded pension money are when it’s my time.


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