This article was called "Revenge of the Glut" by Paul Krugman of the New York Times. This article was written to show how widespread this crisis is. It also shows how some countries like Ireland, got into the predicament they are in now. This argument was directed toward the american people.
It spoke on the warnings given by Bernake and described the loosey regulated systems of other country's as disasters. The large amount of cash inflows gave some countries a feel of wealth until all assets were lost and they were still looked to for their debt.
The argument that this article is making is that there should be more government regulation in countries. There should not be such wide open and loosely regulated economies.
