Investment does not have to wait for prior saving. Credit creation finances investment, and the resulting expenditure generates income from which saving subsequently emerges. This reverses the causality embedded in Slok's #apolloglobal framework. And there is a very #Keynesian irony here:

That is essentially a loanable-funds story, even though Torsten Sløk dresses it up in terms of modern financial markets, chart #apolloglobal