Assignment #6 -D.HESS

The New York Times article, "Revenge of the Glut", by Paul Krugman points out how and why the world's ecomony has come to an abrupt halt. Krugman makes his first point by saying that years ago when we thought we were in a crisis, we were terribly mistaken, considering that we are in one of the worst economic crises to date. The authors comment on international countries saving money instead of investing it, made complete sense then, but not now. They all should have learned their lesson the first time, but instead, were are in another crisis, and they are all for doing the same thing. If it failed once, why do the same exact thing over again. Invest the money. We are making the same mistake that got the world's economy into this mess, instead of trying to find the best way out of it. Now that doesnt make sense to me, but I guess im not in charge of the worlds money.