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An important reminder: China ain't rich yet, not the way we think of it and enjoy it.

And that's an interesting year, isn't it, 1923? The post-WWI US economy was getting goosed into the stratosphere by artificially low interest rates and a borrowing boom, only to come crashing down in 1929. Government efforts to "remedy" the crash only made things worse, with a pair of lefty UCLA researchers famously concluding that FDR's New Deal added seven years to the Great Depression.

I wonder sometimes how far China might be out from a 1929 crash, and how inept the desperate Communists might be in combatting it.