The article called "Revenge of the Glut" by Paul Krugman from New York Times is basically towards the citzens of this country because we are going through so much these past couple years with the war in Iraq, the bail out of Wall Street, and major corparate companies, energy crisis, the decline of healthcare, and most important the jobs that we are losing. It will take us a long time to get over these crisis we are facing, the basic argrument the arthor is talking about the good old days when we used to talk about the "subprime crisis",and subprime lending, and on how it is becoming a small fraction of a problem, in the U.S.
The reason why this was written is because the economic problems we face today, people back then where facing the same problems we are now and these trades from earlier in this century are now limited and we are wondering how did we get in this global debt crisis? because trying to help other countries out when they can help themselves, spending billions and billions of dollars on trying to blow each other up when we can spend money on new roads, new schools, and on new jobs, and trying to get other peoples oil and fighting them for it, thats my opinion on how we got into this situation, and the reason why its widespread is because we are selfish with money and spend it on foolish things.
