IT must be a good time to be an economist with a detailed understanding of things.

The rest of us are just confused by the contradictory messages that assail us during this period of deep financial gloom.

I was always brought up to save for the future and not to buy things I could not afford.

Until recently the government seemed to believe in the same philosophy, but we now have the politicians saying we should spend more to save the nation.

Those citizens who contributed to the crisis by going on a spending spree fuelled by cheap credit are now being encouraged to buy things with extra money made available to them through government tax cuts and other largesse.

(The Chancellor, Alistair Darling, was widely predicted to make an announcement along these lines today).

For all I know, this is a sensible thing to do — but I doubt if it will make much difference to individual habits.

Through all this turbulence, savers will save and spenders will spend.

It is perhaps a good thing, though, that the government has re-assessed its priorities.

After all, everybody has to do the same.