Assignment #6 D. Duryee

This article, "Revenge of the Glut", was written by Paul Krugman for The New York Times. He is writing this article to help inform people about why he thinks we have fallen into these economic hard times. He is aiming this article at the general public and attempting to explain why it seems that the economic problems just keep getting worse. What Mr. Krugman is trying to get across is that we have fallen into this recession because of an influx of money from mostly Asian markets and in turn we raised our trade deficit to its current massive figure. This, with the fall of the housing market and the increase in saving by the American people, has lead to the current economic downturn and has resulted in many other parts of the economy being affected. so basically our want of money to save has brought this economic trouble on us and our refusal to spend those savings now is just making everything worse.