GLOBAL VIEW. CHINA, THE OLYMPICS & STEVEN SPIELBERG. Trouble Begins! Looks like exactly what China’s government has to fear is starting to unfold. You see, famous American film-maker Steven Spielberg had signed up to add some glitz to the upcoming August Beijing Summer Olympics ceremonies. But yesterday he pulled out because he couldn’t reconcile his own conscience with China’s support of the Sudanese government. Because Sudan is committing genocide in the Darfur region of Sudan. Spielberg’s pullout came on the heels of a critical letter addressed to China’s president signed by Nobel Prize winners, Olympic athletes, writes, actors and political figures from around the world. The problem as I’ve written about before is that China is amoral, doesn’t care who it deals with -- dictators, rouge governments, anyone -- as long as they can get oil, gas, minerals, commodities in general to fuel its “factory floor.” China divorces politics from business but sometimes there’s ramifications. Schwartz View: China has already fallen some -27% of its October bull market highs and this news promises to reinforce this decline. Plus the horrific, 50-year snowstorms China just experienced which killed 69 million farm animals, collapsed 354,000 homes, etc, promises to cause food prices to jump even faster (China has put price controls on some foodstuff but controls eventually cause prices to rise). So China has big inflation problems which may cause it to keep tightening rates. Investors, beware China!