“..but this is not China bringing us down....this is our Fed bringing down everybody...”
Well China has had a gigantic real estate and stock market bubble going that began to collapse last week.
With global financial markets intertwined these days it would be more surprising if we weren’t affected by the collapse in their market.
How exactly is it that the Fed is to blame for this?
Wow. It's called years of QE causing a bubble in equities. Several years ago our Fed stopped looking at the economy as something that drove the market, and started looking at the market as something that could drive the economy. That's why the stock market has had 6 great years even as the main street economy has not. Ultimately, that's a very unstable position. This is the unraveling of that.
Throw in all the other reasons that our economy is struggling..Obama Care, EPA, taxes, regulations, etc....and it's ugly scenario.