A story today on Zero Hedge raises the question is the plan of Euro politicians to force depositors to spend their money to help revive the sick economy.
If it is it wouldn't be the first time. In fact, doing so is one of the basic tenets of Keynesian economics. Saving beyond planned investments, excessive saving in the Keynesian view, is a major problem. It can cause recession, even depression.
One of the often-quoted points US bulls make for a future equity run-up is all that cash sitting in low-yielding checking and saving accounts. Toss that in with overflowing corporate coffers and the buy back scene.
Keynes believed that savings don't necessarily decline with falling interest rates.
Never under estimate political zeal.
http://www.zerohedge.com/news/2013-03-26/diabolical-master-plan-behind-crushing-europes-depositors
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