One of the benefits of the Great Recession we are in is the cleansing effect it is having on the excesses of the bubble years. Looking back, it was pretty crazy and unsustainable. The sobering up period we are now in is cathartic in that it is forcing introspection on a lot of folks who needed it.
I notice that the national savings rate is up even as incomes are falling. That means people are saving more of a reduced income, which takes self-discipline.
