MARKET LATEST – AT 9:31 A.M. ET:  Related to the post just below.  From the Washington Examiner:   

Stocks plunged Monday as U.S. markets opened, as fears over China's economy roiled global asset markets.

The Dow Jones Industrial Average opened down over 900 points, over 5 percent.

Markets across Europe have also fallen sharply after the Shanghai Composite in China fell 8.5 percent Monday.

Chinese markets have been in turmoil since the central bank moved to devalue the yuan on August 11, a step that suggested that the Chinese government was concerned about the possibility of slowing economic growth.

As of the close of markets Monday, the Shanghai Composite was lower than it was at the start of the year, despite being up roughly 60 percent earlier in the summer.

Futures indicated a rout in U.S. markets Monday to follow a massive drop Friday. The Dow Jones Industrial Average fell by over 500 points to end the week, and all major indices were down over 3 percent as fears related to China cause a broad-based decline in stock prices.

COMMENT:  Amazing, isn't it, how dependent we are on China? 

The 2008 election was upended by the financial crisis that broke out, conveniently, just before the election itself.  It no doubt helped Barack Obama win the White House, despite his empty record.  If we have a new financial crisis, who will be helped?  Or hurt?  It's quite possible that Donald Trump, who's been complaining about Chinese economic power, and cautioning that this country is "running on fumes," could be helped substantially.  He, like Obama in 2008, is the outsider.

August 24, 2015