Article Review #2

Well, Stockman's at it again. Making economics more and more confusing, one obscure word at a time. Luckily, this article was a little bit easier than the last one, and I was able to determine what he was in fact talking about. Essentially, the point Stockman is trying to make is that the economy is not merely being retested as it was last October, but in fact heading towards another recession. When Stockman references "a bull market", he's talking about a market in which share prices are rising, encouraging buying. Stockman argues that this market, "battered and bloodied" so as to artificially remain a bull market, will finally "give up the ghost" and become a bear market in which prices fall, encouraging selling. Stockman also explains that the reason there has been the false sense of growth for so long is that their was hope for China as the great hope for expansion. But in the midst of the United States's quarter-trillion dollar capital outflow, it's clear that the market isn't expanding in the ways we would like it to. That, coupled with China increasing production of commodities, specifically steel, and the increase in supply will make it even harder for US suppliers to keep up. While I appreciate a lot of the points Stockman makes and agree with them too, I dislike how he presents them in such an arrogant, condescending way. Overall, I thought that the article was informative, but I would still rate it 3/3 in terms of difficulty.