Thursday, August 23, 2012

The price of steel in China has plummeted 19% since April.

This is hard evidence that their ecomomy is not doing all that well, which with their brittle political system, is not a harbinger of stability.

Just from an economic perspective, it also is evidence of a worldwide problem of significant dimensions. Something serious is going to break one of these days, and when that happens, we had better be ready.

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