That is what the automatic stabilisers try to do - sweep excess private savings back around the system.

That being so, excess saving is a danger, just as Keynes warned.

The most important receiving country of these export surpluses financed by excess savings, is the United States, which runs a current account deficit.

- or accommodate the excess savings by having the central bank create the money and distribute it to those in debt so they can clear them.

Only after the excess savings had been absorbed would credit be allowed and restrictions on imports be fully lifted.

Shame some of the excess savings can't be spent elsewhere.

Those flows could stop as soon as countries find ways to spend their excess savings at home.

Japan exports its excess savings - exporting $125 billion of capital last year.

We have been making great efforts to use our excess savings.

"This reduction comes at a time when the world needs Japan's excess savings."