What hath China wrought?
Copper prices have fallen 25 percent.
Oil companies have laid off a quarter million workers as prices imitate the skydiver whose parachute doesn’t open. Oil is $30 a barrel.
China created this mess. It created the demand. Now it’s going bust with the cosmic belch felt around the world.
Chairman Mao would not, we suspect, approve. It was in the time of Mao, after all, when the phrase “CAPITALIST RUNNING DOGS” was coined by the crazy commie denizens of what used to be known as Peking.
Pitifully ironic, ain’t it. So we pause amid the oil, copper, nickel, iron ore, palladium and platinum gluts to tip our hat to George Orwell: “Four legs good. Two legs better.”
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