US GDP UP: Time to spend or save??

Wow! I sure hope this is not another magic trick by 'Merlin the Magician'. The world needs a 'shot in the arm' to get the economy going again. So many in Japan, as I am sure is the same around the world, are holding onto their wallets. No one wants to spend any 'real money'. Everytime I am about to make a big purchase (anything over C$300.00 is big to me!), I take an extra week to think about it before I plunk down my credit card. This past month, I have been trying to decide on whether to pick up a new leather jacket. I have always wanted one but could not afford it before. I have been to the clothing store about 10 times and poking at and trying it on. I am sure the store staff are about to toss me out the door and tell security to bar my entrance forever. I guess what makes me hesitant on making 'big purchases' nowadays is how I truly feel about the supposed-economic recovery everyone talks about on the 'boob tube'. Yeah, I know that as a trained economist I can read the 'tea leaves'/economic data to see a recovery taking place. What concerns me is whether the recovery is due to companies rebuilding their supply lines or replacing their old capital equipment. If so, I will hold onto my cash a little longer. But, a big 'BUT', the economic recovery is due to people opening up their wallets and purses, then I might be a wee bit more confident of a recovery. I remember in one of my economic classes when we covered 'dissaving'. I won't bore you with the definition of 'dissaving' as you can do a 'google' on it I'm sure. If the recovery is due to a massive 'dissaving' wave among the public, we are going to hit a severe credit crisis soon. That is yet another worry about any economic recovery. Just ask yourself, how much are you in debt to the credit card companies? How many of your friends and family are in the same boat? How much have you yanked out of your mutual fund accounts? And what about your RRSP? IRAs? Savings? (Related story.)