“An Associated Press analysis of households in the 10 biggest economies shows that families continue to spend cautiously and have pulled hundreds of billions of dollars out of stocks, cut borrowing for the first time in decades and poured money into savings and bonds that offer puny interest payments, often too low to keep up with inflation.  A flight to safety on such a global scale is unprecedented since the end of World War II.  The growth of cash is remarkable because millions more were unemployed, wages grew slowly and people diverted billions to pay down their debts. They also poured money into bank accounts knowing they would earn little interest on their deposits.”

http://news.yahoo.com/ap-impact-families-hoard-cash-5-yrs-crisis-042042926.html

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