From the Mises blog: http://blog.mises.org/blog/archives/003927.asp
* Following Ben Bernanke, the chairman of the Council of Economic Advisers, in his testimony to the Congress on July 20,2005, Fed Chairman Alan Greenspan said <http://www.federalreserve.gov/boarddocs/hh/2005/july/testimony.htm> that it is quite likely that we are currently experiencing a global savings glut. Agreeing with Bernanke, the Fed chairman views this glut as one of the factors behind the so-called interest rate conundrum, i.e., long-term rates have been falling despite the tight interest rate stance of the Fed.*
What does the world need when cold fusion takes off? A large reserve of savings to spend on factories and cold fusion powerplant purchases. What does the world have, the glut, a large reserve of savings? It's time to strike folks!
