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People who know I used to be an investment advisor do not ask me whether they should buy or sell. Most people want to know why the market is doing what it is doing. And they are right to ask that; if the cause is seen as temporary, they would probably hold. If the cause appears to be more fundamental or “secular,” they consider reducing exposure to falling stocks. Okay, so why is the market falling? The single biggest reason stocks are falling right now, is because China’s economy is stalling out. Some context first: China has been the fastest growing major economy in the world for years. Their contribution to global growth has eclipsed even the US for years now because even though their

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