"The Revenge of the Glut" is an article published in the New York Timesand was written by Paul Krugman. The article is directed to U.S. citizens as well as the rest of the world. It discusses our economic struggles of today as well as gives a history of Asia's economic history in the 1990's.
Krugman mentions a speech made by then Federal Reserve chairmen-Ben Bernanke. Krugman notes that while trying to sound positive, Bernanke'sspeech was a forshadow of what we are facing today. Krugman points out that Americans aren't the only ones suffering these tough economic times, this is a global recession. For us to move forward we need to learn from our mistakes. It has been said that those who do not learn from their mistakes are bound to repeat them and i beleive that applies here.
