>> "For instance, German household savings have jumped to 11.2% of income, the highest in over a decade, and savings rates in Denmark and Sweden are near all-time highs."

Of course people are saving very aggressively. With rates going lower and lower, it means, you need to hunker down and cut your spending as much as possible because your retirement money isn't going to grow, at all, it's decreasing.

With every step interest rate goes lower, their just putting another nail in the coffin. The whole world is drunk on keynesian economics and it's not working, one bit.

What goes around, comes around. if you turn the screws on people and continue to hurt them financially, they'll have less and less money to spend, and it keeps making the economy even worse.