A rise in the level of saving can reduce aggregate activity temporarily but only a sustained high level of saving makes it possible to have the sustained high level of business investment that contributes to the long-run growth of output.
“Investing in auto companies and ensuring a financial collapse didn't lead not from a recession to a great depression may not have been the most popular thing to do, but it was the right thing to do.”
“I just really don't like being the center of attention that much. It's kind of ironic.”