Is savings money bad for the economy?

http://mises.org/daily/6547/Is-Saving-Money-Bad-for-the-Economy

I posted a piece in the past touching on this issue as well. It can be viewed here: http://silvernjin.blogspot.sg/2011/12/economics-in-5-pages_16.html

We must get back to Austrian-style world, where thrift and savings are rewarded; a world where hard-money reigns and where there is a steady price deflation.

We have seen a few decades of Keynesian-style consumption and spending and money-printing and artificially-created low interest rates and massive inflation, which punish savers.

How much longer this current system can last is anyone's guess. It didn't last long when empires and nations in the past did it. Now we have the whole world doing it for the past 3-4 decades, and the problems are becoming very apparent, as the Austrians have warned.