spend spend spend

The governor of the Bank of England is urging us to spend more to help the economy. At the same time he is rigidly sticking to his outdated Keynesian doctrine. He doesn’t seem to appreciate that the world has changed since the 1920’s. There are many more older and retired people now; and they rely on income from savings and investments. With interest rates at such low rates for so long, their incomes have been decimated. Just how does he expect them to spend money they don’t earn? Go into debt?