Article Review 3

David Stockman goes on again about how the world is drifting towards economic collapse. This time he does that by ranting about the collapse of credit-based spending. He claims that the central banks of developed economies were responsible for pumping economies full of money and falsifying financial market data and prices which led to an increase in credit spending by households. This has led to a $185 trillion growth in worldwide debt which is 3.7 times as much as the corresponding growth in GDP (which he claims has also been overstated by the central banks and other stuff). He then goes back to complain about the Fed's decision not to raise rates (his favorite topic to rant about) and claim that that pumping of free money into the financial sectors of the economy is creating financial bubbles. He continues to go on about how financial firms such as Goldman  Sachs are happy with the "lunacy" of 100 straight months of interest rates at 0 because it gives them free funds for their "gambling." He then reminds the reader that the global system is so interconnected that issues in Brazil are related to issues in North Dakota, which is probably the most reasonable thing he's said yes.
It is relatively easily to understand what he's saying because he's said it over and over again: the world economy is destined to fail.