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Who's your daddy?
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Ummm … not you, China.
Here's the deal.
It could be happening.
Stocks nose-diving on reports our sugar daddy might be souring ....the Dow losing 265 points.
Beijing's bubble getting pricked a little bit more today.
Which had markets the world-over careening today.
The latest worry?
Once considered a non-issue in China … now a front and center worry in China.
At just under five percent, it's running double what it was.
And a lot of the things propelling it ain't remotely slowing down.
Things like real estate….Still hotter than hot.
And nothing the state or state-run banks do can get it to cool.
Then there are those Chinese factories that suddenly aren't humming…
And those Chinese consumers who suddenly aren't buying…
Or at least not buying as much.
Now a lot of you say I fixate a bit much on China….
And trust me, I’m no crape-hanger.
But bull crape to you, if you don't think this matters.
Not only does China owe more of our debt than any country…right now it is the world's fastest growing country.
Let's say it slows down just a bit…
Don't you think Beijing’s appetite for our god-awful cheap Treasury securities declines just a bit?
That's what has traders nervous here.
Robert seems to get it.
Not sure about his boss.
Because he's still doing that big government thing.
Today signing something called the Manufacturing Enhancement Act of 2010.
Business as usual.
In a world suddenly anything "but" business as usual.