Business week has just popularised what was previously a minority sport: debating the ‘global savings glut’ issue. Steven Roach has already responded. Really with all this high-powered economics going on, I feel sorry for the ‘layman’, since it must be kind of hard to reach a conclusion about whether or not to buy a house, or whether to take a summer break or wipe the credit card debt instead.
The issues are pretty complex, but I think can be broken down into two main issues.
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