I've had Schwalbe Marathon tires develop pronounced bulges after very short usage. In my case, the tires were pretty badly squirmed and I replaced them as soon as I noticed it. It looked to me like some part of the casing (the threads embedded in the rubber that actually hold the pressure,) must have developed a flaw and expanded a bit. In my case there was nothing abnormal to see on the insides or outsides of the tires. Whatever happened was internal (within the rubber) and invisible. I've since used a bunch of the same tires and had no problems.
jsa's theory about the fold in the fabric coming open sounds plausible, or maybe just a few threads breaking or stretching would explain it. I know that the casing threads are crucial to pressure retention because I've done the experiment when I was younger and had less money. I ran my tires until there was no more rubber and they were fine, until I started to see the threading on the outside. Shortly after that, the threads, now exposed to the road, would start to fray and break, and once a few of those were gone in one place, the tube would bust through and blow out.
One theory of mine is that I bought some these tires at a very good price online, and perhaps the seller had got hold of some rejects from the factory and was selling them without mentioning that.
The tires I'm talking about were 451 bsd 20X1-1/8". I think I bought four tires from this discounter and I had at least two tires go bad; although I couldn't say for sure whether the bad ones came from the batch of four that I bought at discount, they were all mixed up with others I had in stock.
Note: I do a lot of long distance touring, and I carry a spare tire, just in case. To do this, I twist the tire in half and fold it, so it's half the size which is a whole lot easier to carry. This isn't usually a problem. Lots of people do this, but now that I think about it, it might also be a possible contributor to the problem...
Scott McMahon