The American Disease: At least 20 people are dead and 26 wounded after a gunman went on a shooting rampage at a crowded Walmart in El Paso.

 The 21-year-old gunman who used an AK-47 assault rifle was taken into custody. The shooting took place at the Walmart near a popular commercial district of restaurants and stores.

 Investigators are examining an anti-immigrant manifesto they found to determine whether it was written by the gunman, the NY Times reports. If connected to the gunman, the killings could be prosecuted as federal hate crime or an act of domestic terrorism.

  Just over a month ago the National Rifle Association was celebrating new Texas laws that make it easier to carry guns in churches and schools. President Trump, who opposes gun control, sent thoughts and prayers via Twitter.

Anti-Government:Hong Kong police yesterday fired gas at pro-Democracy protesters who had thrown bricks and vandalized a police station. Tens of thousands of protesters dressed in black gathered for a giant rally. Some are reported to have thrown a Chinese flag into Victoria Harbor.

  In Moscow, police arrested hundreds of protesters demanding that opposition candidates be allowed to register in city elections. This comes in addition to the arrests of more than 1,000 people at an election protest last week.

Trade War:Retailers are warning that prices will go up this fall if President Trump follows through with his promise of more tariffs on Chinese goods.

  When the government puts a tariff on something, it’s the people who buy it who actually pay the tariff, not the manufacturer or importers. It gets passed through to the price. More than 40% of all the clothes sold in the United States are made in China, as well as nearly 70% of the shoes and 88% of the toys.

 Nonetheless President Trump is pushing the fiction that the Chinese are paying billions of dollars in tariffs. He tweeted, “They are paying us Tens of Billions of Dollars, made possible by their monetary devaluations and pumping in massive amounts of cash to keep their system going. So far our consumer is paying nothing – and no inflation.”

  That theory wouldn’t pass Econ 101.