could be. >> and there was nothing higher than that. >> no, nothing higher than john rutledge. and he sends his slave on -- i think it was the fourth of july to see the fireworks, to go to thompson's tavern and go up on the roof of thompson's tavern to see the fireworks. well, thompson turns the slave away. it's a female slave. no, you can't go up there. well, rutledge is outraged. he's a major figure of course in the state legislature. he goes to the state legislature and he urges a bill to banish thompson from the state for this insult. well, thompson takes to the press, and he writes what can only be a typical american claim of equality against -- this kind of arrogance. and i think it expressed the kind of resentment that's coming out. even in charleston where the structure of the society was much more hierarchical than say in boston, to have that kind of resentment expressed, typical resentment against the snobbery, this arrogance that was expressed by rutledge. outrageous by our standards that he should go to the state legislature and banish the man. but that's the -- i t

john hut ledge is here from rutledge capital. hen roach from yale university. john, welcome to the conversation. >> thanks. nice to be here. steve, how are you? >> great, john. good to see you. >> good to see you. >> we have been trying to get a feel for what's happening in china, john. can you describe what you have seen? >> the slow down is really not a dramatic slow down but it's a real thing. exports in china are tied heavily to europe. europe is the place in the world circling around the toilet bowl. if there is going to be a big event happening of a negative nature they are already in recession with the bank shrinking. exports in manufacturing are hurt. chinese manufacturers also hurt by supply chain issues like we have seen happen in japan and the floods in thailand. so there are issues there. the truth is, china is still growing faster than anywhere else in the world. >> there are changes that may need to be made. the lead story of the wall street journal today we have been talking about is a world bank report due out next