I hope individuals and businesses start saving again. When I was a kid, everyone saved money. We spent it too, but we all saved for rainy days. Maybe that idea will make a come back now. Be prepared. You never know what may happen.
We need some kind of law where if you take a bailout you give the Fed a controlling interest, you have something like 60 or 90 days to buy that interest back by repaying the bailout. After that other entities have the right to purchase that controlling interest and then they now own you.
In some ways we are seeing a "savings glut", which is why interest rates are so low, but those savings are overwhelmingly from the minority of mega-rich.
If the public start saving en masse, and not in equity but just banking, interest rates will have to go negative, at which point people will really question why they should be doing it.
I remember when my wife tried to get a credit card right after we got married. She could not get one. Back then, there was only Visa and Mastercard. Then Discover card came out and she was able to get one with a very low limit. She used that to build her credit over the years. Today, the grand kids get card offers in the mail several times a month. We need to be somewhere in the middle and not at either extreme.