Article "Revenge of the Glut", was written by Paul Krugman. It appeared in The New York Times. The article was written to let us know that the economic crisis is not only due to subprime lending. It was directed towards the American people.
The arthur says that Ben Bernanke gave a speech four years ago that foreshadowed the bust to come. He states the cause stemmed from Asia and not America. It appears that this is not the first time we and other countries have been in a crisis, but now maybe the worst. We as a people have all contributed to the crisis, whether it's from wasteful spending, approving bad loans, or making risky business decisions that in the end affects everyone. And as the arthur stated we're still looking for the way out.
