Global capitalism. Say what you will about it — it is a cesspool. It’s a disgusting mass of greed and self-service, benefitting primarily the wealthiest, most corrupt and most powerful among us. It’s self-limiting, self-defeating, and self-corrupting. Global capitalism is a cesspool. But it’s our cesspool, and America knows it like no other. We were born there, after all.
What we know is modern free-market capitalism got its birth certificate the same year our own nation did: 1776, when Adam Smith published The Wealth of Nations. That book shook the world, and forever changed how nations would see global trade. By the time our Constitution was ratified 11 years later, Without a doubt, the guys who wrote our founding documents framed it with accommodation of Smith’s ideas in mind. The Constitution wasn’t quite written around free market trade. But there’s no disputing capitalism is at least part of our national DNA.
China, on the other hand...well, put it like this: Going from a completely insular, self-contained, 5,000-year-old monarchy to an anti-capitalist commune does not prepare one’s culture well for the cesspool that is global trade. When your most reliable economic indicator is the daily number of stock brokers leaping from skyscrapers, something has gone seriously wrong in the matrix.
So, with China’s economy stuttering to a standstill, and the yuan down 3.6 percent overnight to the dollar, the question today is: What does all this mean to us? All right, that’s not the question. There are others. But here in the heart of the cesspool, we’ve learned to focus on the one. Let’s get to it.
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