On the contrary, we may be seeing a transition to a new culture of savings and investment rather than borrow and consume. There is an increase in savings rate and decrease in consumption. This is causing the economy to stagnate. If you see the demographics, the baby boomers are retiring; their productive phase of life is coming to an end and from now on they will be net consumers who will live off their savings. Even the governments can only borrow for so long; the lenders are going to demand more.
