Savings glut - the end game and the last bubble?

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The May-June 2006 markets crunch was a dress rehearsal for liquidity implosion. And, in an alarming trend, the Eurasian savings glut is increasing, sustaining Goldilocks short-term but aggravating the potential global demand deficiency. Charles Dumas argues that a hard landing followed by poor recovery is the natural consequence of the glut.