Savings ripple through the economy

[ThriftoRama]

This is a really well done story about the economy:

A Layoff in the Smith Family Ripples Through Town - WSJ.com

[Broken Arrow]

That's a very nice article about the way things ripple through the economy.

As I have hounded on before, it also shows just how much of our economy is dependent on a consumer model. And that model was essentially broken.

To me, it's sort of like an alcoholic finally being forced to sober up. The economy will still survive and eventually even thrive without as many Harold's, Starbucks, and Applebee's around. Instead, perhaps learning to save will help support our ailing banking industry. Perhaps more will invest in their retirement and future, supporting investment firms and brokerages.

Who knows?

But in the meantime, there's no doubt that this is a very tough time for everybody. Including me.