Assignment#6 J. Tripp

Revenge of the Glut is the name of the article that appeared in the New York Times. The article was written by Paul Krugman and was directed towrd anyont who is aware of the financial crisis the world is in. The article goes on to explain how one day a nation can be on top of the world (in financial terms) but within a few years everything can change. In this article it explains that it was a number of things that caused our national debt, not just bad home loans and subprime lending. The article also says that what we thought were crisises back in the day are nothing compared to what we are going through today. America has a huge trade deficit with the economies of Asia. This deficit does not help out the debt situation of America. America has dug itself into a deep hole that is going to take a while to get out of and there is no definite way to get out of it.