Whenever I venture from my "assigned" space of economics and investing, and roam into the realm of politics, I am sure to offend more than a few readers. But today, I see the world of economics and politics meshing, as the threat of an international trade war is becoming more and more real. From Senators proposing insane 30% tariffs on the Chinese, (our new whipping boy, probably to the relief of Japan) to boneheaded steel tariffs, we put the economy of the world at risk. And the reasons are more political than economic, so I weigh in. I am sure I will be able to offend most everyone at some point, but I hope I will give us all a few things to think about as we get ready to celebrate Thanksgiving. For the readers who can't stand political heat, you've been warned.

This week we deal with tariff proposals and other absurdities, the Chinese and the huge rise in their holdings of US debt by foreign governments, plus one of the more profound pieces on the events in New York, presciently written more than 50 years ago. At the end, I ask my non-US readers a question about investment laws and practices in their country.