That was the point, oh thickheaded one. Things would have crunched harder were it not for the higher rate of savings. Neither Krugman, nor I, say any economy is bulletproof, just that, whatever else goes on, higher rates of personal saving is a buffer and also allows faster recovery. And I said "often indicates, " not "always ensures. "
Thanks for parade wishes! I had some hemorrhoid tissue last year that I thought would have made a great float, if blown up to about fifty feet, in the Macy's parade. I can send you some pictures, if you're interested.