The article by David Stockman immediately jumps into his argument regarding the U.S. economy. Stockman argues the economy is going to enter into another recession and it is virtually not going to be stopped. The reason we are entering another recession is because of what he calls a "credit binge," with essentially a falsified economy. The bank's false economy led to too much borrowing ending in inflation in China and economies. Not only did the banks falsify the borrowing, but they also falsified prices, which resulted in a major growth in debt.
Stockman continues on by criticizing Ben Bernanke: the former head of the Federal Reserve. Stockman's idea of falsification is evident in his argument against Bernanke as he accuses him of presenting the data in ways which make the situation seem under control, when really he is ruining the Fed. He also blames Bernanke for the rise in inflation. Ultimately, David Stockman feels the economy will enter into a recession largely in part to the impact of Ben Bernanke.
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