It seems to me that you are implicitly assuming that savings always equal investments. This is not true. Savings minus investments is the private sector balance

It seems to me that you are implicitly assuming that savings always equal investments. This is not true. Savings minus investments is the private sector balance, which has varied wildly, see e.g. the graph here: http://pragcap.com/sectoral-balances-and-the-united-states http://pragcap.com/sectoral-balances-and-the-united-states