Why is it that we have to talk about these things when there’s an economic downturn? Even Keynes thought that boom is the time to save money, recession the time to spend it.

I don’t remember any government doing cutbacks or delaying spending during an economic boom. It’s always so that when money is flowing in, spending is adjusted up. And then when the inevitable recession comes, suddenly we don’t have any money and are forced into austerity.

Is this entirely a symptom of democracy? Because saving is not a popular thing to do?