The author says the answer to why the world is in the position that it is in now was in a speech by Ben Bernanke. In the article, the author says that in the speech by Bernanke that the word relied on borrowing money too much and that is why the entire world is in the economic crisis that we are in. The author also describes why America became so in debt. The author said that bankers took huge risks and hide the risks from investors. He also says that countries cut back on spending as much, which limited money from country to country. He says that we have plunged so fast into the economic situation that the entire world is in now is due to trickle down effect. When one major factor changes, although not connected directly other factors suffer. Countries are not producing as many goods because other countries are not using the goods. The article makes me feel like it will be a while before we are able to get out of this situation.
