For example, we hear a lot about how people are in too much debt. Before the recession really kicked in the papers were positively screeching about how there were trillions being spent on credit cards, and people couldn't possibly pay it all back.
This was actually quite right as it turned out, there were a lot of defaults, banks realised they'd lent mortgages (let alone credit cards) to people who couldn't pay and as you'll have realised the system came close to collapse.
Now we're not spending enough
The thing is, now we're mostly wise to that one and a load of people are paying their credit cards off rather than running up a larger debt, and sticking to spending money they actually have rather than money they don't.
Dixons, owner of Currys and PC World, has noticed a similar drop-off, although Homebase hasn't because people are working on their houses rather than moving.
So it's bad news for retailers, particularly if like Argos they're targeted at lower income brackets. For all that, there's an old fashioned part of me that thinks it's perfectly reasonable to buy fewer iPods and TVs if you're running short of cash.