Insight: Blunt talk from China ex-premier stirs reform pot

from Reuters

(Reuters) - Crumbling flood dykes in China decried as "tofu dregs" built by "parasites." Erring bankers lashed as "half-wits" and crime "accomplices." Special hotels for Communist Party elite dismissed as wasteful piles of "golden splendor."

China is growing rapidly as an industrialized and more modernized semi-capitalist nation.  But China also has serious social and political problems, and will be forced to deal with them probably sooner rather than later.

Debt Ceiling Gridlock Causes Sell-off of US Stocks

Asian investors getting leary of US gridlock and growing concern over debate of the debt ceiling.  Overnight, asian markets sold 2% of US stocks were sold. (July 26th, 2011)