Today I read a very interesting news article about the fact that the citizens of The Netherlands are saving much more since years. See, the Dutch have been living in LaLaLand ever since 1991. There was just too much money to lend and spend up till 2008. Our once Calvinistic nation went ballistic when it came to spending and we forgot all of our ancestor’s virtues.
Seems like we’re back on track. Pre-crisis we had about 250 billion in savings and right now it’s 324 billion. Also, there’s a mortgage pay-off hype in The Netherlands right now. Books are being written about the topic, the authors (Marieke Henselmans and Gerhard Hormann) are not treated as outcasts anymore but seem to become heroes.
Maybe this crisis is a blessing in disguise for our country?