So what’s new? Is China crashing? The world is feeling our pain. We are in a death spiral from years of exporting jobs, which reduces purchasing power, which reduces demand, which reduces jobs, further reducing purchasing power, etc. etc. until the crash.
Look at what you buy, see where it is made, see what produced the death spiral. Our factory seed corn is gone, we have nothing to build on. Green jobs and tax cuts to create jobs are election placebos.
We can’t exit by being the market for the world, exporting both factories to make and treasuries to pay. The country’s recovery awaits leadership to propose making more of what we import. When we recover, the world recovers. Fat chance this time.
The welfare system has destroyed western civilization.