The Chinese government is quickly losing its ideological legitimacy, maintain its rule with force, but cannot draw strength from the ideology of Marx and Mao.

The rise of China as a new power is another great challenge for the US. Our failure to properly handle Germany and Japan earlier in the 20th century cost us and the world dearly. We must not make this same mistake with China.

One thing on psychology, which we've always known, is that every investor says they're long-term - and they are until the market takes a hit.

As our federal government has grown too large and too powerful, the real loss has been the freedom of people to govern their own lives and participate fully in the American dream.