Article #2

In this article, Stockman talks about how the U.S. economy is going to be facing big trouble. Due the language in the article, I didn’t fully understand why or how this was taking place, but I understood that this is not just an American problem, the whole world’s economy is going to plummet soon. He talks about China’s problems and mentions how Brazil is facing massive consumer decline. Stockman makes a point to talk about Wall Street and the idea of the cover up of the economy but an elaboration in class would help me fully understand the point he was making. From my understanding, there was more things were being bought for more than they were worth, or perhaps I mixed it up and it is the other way around. Either way, there is a deflation problem that needs to be addressed, instead of pushed aside. While the graphs made the content a bit more clear, the article is still a jumble of economic confusion for me. He makes a connection to 2008/2007 which I can only assume is the recession that took place, and yet the connection is a bit hazy; understandably, we will face a recession of the same, perhaps larger, extremes, but I’m at a loss at to whether it will be for the same reasons, either because they were not resolved or the attempt at fixing things only made matters worse. Nevertheless, Stockman does not seem happy and seems to believe this could have been preventable, but is no longer at this point.