This story may deserve a ″WOW!″ by Eddy Wally. For the fourth day this week, the stock markets in China bled red ink, causing major sell off worldwide. The Shanghai stock exchange closed this morning after just 29 minutes of trading once the value of the Chinese stocks fell some 7.04%. Automatic safeguards kicked in within 14 minutes of their opening bell. When trading resumed 15 minutes later, the markets closed for good as stocks immediately nose-dived. Every other major stock market across the globe dropped 2.5% to over 3% as a result. The Dow Jones is down some 400 points in early morning trading, even before its day officially starts. The DJIA has had 17 down days out of the past 25 trading sessions, dipping below 17,000. All of this comes as economic forecasts for 2016 appear grimmer and grimmer.

So can we blame Barack Obama? The Federal Reserve Bank? In part, yes! This is yet another sign that the economy never really recovered from the Crash of 2008. China has its own issues, though they are related. Practically every major currency on the planet has been devalued since 2008 and the US Dollar is no exception. China could be said to have won the ′Race to the Bottom′, if victory there can be considered a good thing? The Chinese markets have been in decline since last summer, causing further pressure to devalue the Yuan.

In the United States, the Fed has only recently begun to raise interest rates after 7 years of creating literally ′free money′. The only people whom have benefited from this strategy has been the major banks, hedge funds and the federal government. With the Fed Rate at only 1/16th of the average during the George W. Bush administration, Obama has been able to double the National Debt without any short-term consequences. But sooner or later, the piper must be paid and that day may be at hand!

If and when interest rates ever return to normal, just making payments on the interest will consume a huge slice of the federal budget pie. Even more than that of the Department of Defense. The costs may even rival those of MediCare and MedicAid payments. In other words, the government will have no choice but to raise taxes and cut spending. Or maybe actually deploy a policy which is pro-growth. The anemic economy under the Obama administration has barely managed an average of 2% growth in GDP each year. That simply is not enough to sustain our national spending habits on either the private or public side of the coin.

China is in even worse shape. They absolutely need an annual growth rate of at least 7% to keep their economy moving forward. To have a ′good year′ they need at least 9% to 10%. But from where things stand now, it seems that they will be lucky to 4% or 5%, which would effectively be a recession, even if it is not technically one. The same is true for us when our growth rate fails to exceed 2%. Will Obama shed any phony tears as he did the other day when talking about scrapping the Second Amendment via executive actions? Nope! In the fantasy that is Obama, the economy is just peachy. This latest hiccup is no less significant to him as when an American gets beheaded by ISIS. Shed no tears and run off to play golf!