• They are our 'Sugar Daddy'.

    And suddenly they are souring.

    China…is beginning to look "not too" sweet.

    Its spectacular growth is slowing.

    The latest warning signal coming from Mercedes-Benz.

    The luxury "automaker" reporting "not as many Chinese takers" for its premium wheels.

    Don't get me wrong…

    "Benz" ain't going bust there...

    But it's certainly not growing at the 60 percent clip it "was" there...

    More like 40 percent now.

    So still cruising…just not racing.

    Just like a lot of numbers out of china these days aren't racing.

    Retail sales now growing "single" digits, from "double" digits...

    And once booming factory orders, now barely growing, at all.

    Signs a real estate bubble could burst there.

    Chinese workers spending less there.

    ...all of which should have us worrying "here."

    Pretty much "everywhere."

    Because China owns not only a lot of our debt...

    But a lot of other countries' hide.

    Because Chinese cash is king, and since they're one of the few countries that "has" cash...a royal mess for the rest of us if the king suddenly is found to have no clothes.

    Not good for countries like ours that keeps piling on debt...

    And keep counting on the Chinese to fund that debt.

    "Then" where does that leave us?

    In a word…spent.

    Without a 'Sugar Daddy'.

    And suddenly feeling very sour.

    Very sour, indeed.