Shanghai surprise

From Fox News: "Wall Street Slammed After China Stock Woes"

Stocks had their worst day since the Sept. 11, 2001, terrorist attacks Tuesday, briefly hurtling the Dow Jones industrials down more than 500 points on a worldwide tide of concern that the U.S. and Chinese economies are stumbling and that share prices have become overinflated.

Every time the stock market drops, the anti-entitlement reform forces always point and cry: "See! You can't let people invest their own money!" Of course, the larger problem is that because of runaway entitlement obligations, the United States will be increasingly dependent on foreign lending from Asia to prop up our spiraling spending. So now when China gets a cold, America gets the sniffles. (Or is that vice versa?)