Savings is an insidious lie to ourselves. It makes zero sense to an economy. X people working, and Y people not working leads to the outcomes you see as obvious

Savings is an insidious lie to ourselves. It makes zero sense to an economy. X people working, and Y people not working leads to the outcomes you see as obvious. Trying to say some people are not saving enough becomes meaningless when looking at a whole economy. Or you are saying that people should increase their time worked or reduce their disposable spending which is saying they hardly deserve any rewards for their hours. As someone who has legitimately tried to save enough for my retirement, it is obvious that my savings will be taken away through government taxation changes (the "tax the rich" movement will insidiously spread to taxing middle class savers in New Zealand). The government can't afford to pay for retirees so it will grab resources from whoever has them which I expect to be the "savers" you mention. An economy can reduce spending on retirees, and increasing the retirement age is the most convenient way to do that. The proper way out is to increase the productivity of the economy. Perhaps you are not acquainted with the common retirees that are skimping on all expenses - trivial things like enough heating or food. I have a retiree friend living in his car (and still working hard).