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Given all the China-related stories in the news it may be time for investors to look into the relationship between the Chinese and U.S. stock markets. If China's market tends to lead the U.S.'s, then recent weakness in Chinese stocks might offer a valuable heads-up to investors.

Consumers, it seems, are the key to everything economic -- and the more gluttonous we are, the better. (At least until the bill comes due.) After all, we are (or were) 70 percent of U.S. gross domestic product. If that isn't one of the pillars of the 21st Century idea of American Exceptionalism,...