[thu2111]

Can they though? What do you have in mind when you say they can think of good uses for the money?

The savings we are talking about here are really "funds looking for yield", in fact must be because Western monetary policy punishes cash saving through inflation. And finding great investments at scale is definitely hard. I doubt you know lots of people who can do it.

Bear in mind by this definition houses and corporate balances count as "savings".

[nathan_compton]

You're kind of illustrating my point, though - the very language we are using to describe the problem hides the fact that there are a lot of people with a lot of demand for goods and services who can't access them because they don't have savings, and, in fact, have a lot of debt.

The framing of the problem as a "savings glut" reflects this fundamentally wealth and investment oriented way of thinking about economics.