We need more savings, not more spending.

Just the other day, I wrote:

Spending money is not what creates wealth. To create wealth, one must save, invest, and produce items that had not existed before or items that do exist but of higher quality or at a lower cost.

Contrary Investor Subscriber Report analyzed this in more detail and included some nice charts. They clearly show that as spending rose and savings fell, the economy grew at a slow rate.