I'm not sure what "glut in capital" really means. Capital is the "means of production" and includes things like buildings, developed land, and equipment. A glut

I'm not sure what "glut in capital" really means. Capital is the "means of production" and includes things like buildings, developed land, and equipment. A glut in capital would mean that there are too many of these things and many are left idle, e.g., empty houses because nobody wants to pay even a low rent to use them. Where I live, for example, there's a shortage of housing and houses are rented for higher prices than they should be. This is a capital shortage, not a capital glut. Monetary policy, such as governments running up large debts and central banks keeping interest rates low, leads to a large amount of "paper wealth" in circulation, which doesn't relate directly to physical capital. People and organizations are apparently happy to hoard this paper, so that it doesn't lead to inflation in the real economy.