Article Review 4

The article was not by Stockman! However the main topic was still impending doom. Reinhart starts off by talking about some tell tale signs that an economy is about to fail or have a recession. With the crash of 2008 behind the world, they are moving on to other things and the main topic of the day is the future of emerging economies. The problem is that a lot of emerging economies are showing a lot of these tell tale signs of a failing economy. China is also the main culprit helping perpetuate some of these failures. With almost all of the tell tale signs relatively easy to spot, there is a characteristic that is more difficult to measure and countries like China make it even tougher than before. A lot of emerging countries have hidden debt, when the severity of their economic failure is disguised or the amount of debt owed to various nations is blurred. It is hidden because there is not data to show for it and that is because of various reasons. China takes loans out from various start up banks who don't keep extensive public records. Most of the countries transactions aren't kept track of by the World Bank and with the estimates already taken, there is a lot of leeway in either direction because of unaccounted projects and borrows and lenders. However this is still valuable data that can possibly tell the world what is about to come even if it cannot do anything to stop it.