Would like to post a couple of interesting links for those who would like to explore more information on how the global debt crisis began.
The first link is that of my favorite Nobel Prize winning columnist Paul Krugman's NYT Op-ed. He discusses Ben Bernanke's famous 2005 speech on Global Savings glut and explains it in layman's terms.
Revenge of the Glut
The second link is that of the original speech by current Chairman of Fed Reserve Ben Bernanke, who explains his view on how the emerging Asian markets, especially China exported Capital amongst other things to western world, thereby causing a savings glut.
Global savings glut and US Current Account deficit
Those of you interested in exploring more (similar) articles, ping me.
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