Earlier this week I discussed on this blog how

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Earlier this week I discussed on this blog how, at the local level, growth darling China may be facing its own debt crisis. Its debt-to-GDP ratio, when accounting for local debts, may add up to 150%, which puts it on par with Greece. The Chinese consumer is coming up, but perhaps not fast enough to pick up the slack from the West.

MORE: Is the iPhone Bad for the American Economy?

In the meantime, the big winners from Apple s innovation, the 6,101 U.S. engineers and other professionals (who got the bulk of Apple s U.S. salaries) will continue to make big gains. But what happens when the rest of jobless, wageless America puts a damper on U.S. growth? Apple may continue to do just fine. But for most Americans, that s not really the point.

Roya Wolverson writes for TIME. Find her on Twitter at @royaclare. You can also continue the discussion on TIME s Facebook page and on Twitter at @TIME.

Are regulators ever likely for being good at stopping fraud?

Your house Fiscal Companies Committee begins its Bernie Madoff inquisition this afternoon, and also the Securities and Trade Commission is sure to get its share of flack from both witnesses and committee users. In the meantime, Sunday s Big apple Occasions contained an epic tirade towards the SEC along with other blameful events (primarily the ranking organizations) by hedge fund supervisor David Einhorn and author/lapsed investment decision banker Michael Lewis.

I preferred the significantly shorter analysis that Einhorn created in a speech in 2007:

Regulators are very good at cleaning up fraud after the cash is gone. Authorities doesn t genuinely determine what to accomplish when it catches fraud in progress.

Or, better but, the verdict of Allan Sloan in his outstanding column within the new Fortune:

If commission enforcers obtain a bigger spending budget and so are treated with regard rather than getting dissed (which includes, I ll guess, by a few of Madoff s victims) as an obstacle to free of charge markets, issues could boost. But don t count on a fraud-free era to ensue.

I m saying this not away from cynicism but due to the fact I understand how regulators normally function. I ve witnessed it for years, in fields ranging from office retailers to oil-drilling partnerships. You re likely to obtain caught should you operate a couple of inches exterior the baseline, due to the fact regulators are set up to capture that. But run thus far out that you simply re actively playing with a complete diverse ball area? You can obtain absent with that in the event you re enough of a financiopath, and also your luck retains.

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