To put this another way, three out of five Americans have no savings to speak of. As the Austrian Business Cycle Theory explains, that means a bust is upon us. Savings is an indicator of how much resources are available for production.

When savings/resources get low, production is forced to stop, tools/machinery get sold, and other production begins with the remaining available resources. The longer that nation-states delay the bust, the fewer resources/savings there will be to recover from the bust.