Every single link goes wonky, and it all goes comprehensively smash, and they are all to blame, and we will all pay. Blame is so irrelevant anyway.
The one item in the article that is Stalinist-surreal, is the developing world saving 33% of income - while the richest on earth, like us, save nothing. It is utterly crazy to have that division, and it cannot possibly last.
The other item that stood out is the claim that long rates being so low are a proof that investment can't keep up with savings desires. This is manifest nonsense. Savings are due to desire in places like China, they are policy. And long rates are low because every central bank on earth is inflationist. If low rates really reflected low demand, then gold and oil prices would be weak, not galloping. Low rates reflect a uniform policy of excessive looseness by all central banks, together.
The normal check on one country being too loose is that its currency weakens. But when everybody does it, commodity prices soar instead.
A heartfelt "AMEN" to that.
The Depression is no longer part of the memory of living Americans, and we are not the better for it.
We will finally be out of the twilight zone when "consumer spending up" is not considered as good an indicator as "consumer savings up".