Posted on 08/06/2011 4:21:42 AM PDT by Oldeconomybuyer
The largest foreign holder of U.S. treasuries responds to the S&P downgrading by calling for decreases in U.S. military outlays and social spending.
Beijing — China called on the United States to "cure its addiction to debts" and "learn to live within its means" in a searing commentary published Saturday by the official New China News Agency in response to Standard & Poor's historic downgrading of the U.S. government's credit rating a day earlier.
China, the largest foreign holder of U.S. federal debt, blamed "short-sighted political wrangling in Washington" for creating the current financial morass that now threatens to undermine the global economy.
"China, the largest creditor of the world's sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets," the commentary said.
"If no substantial cuts were made to the U.S. gigantic military expenditure and bloated social welfare costs, the downgrade would prove to be only a prelude to more devastating credit rating cuts, which will further roil the global financial markets all along the way," it continued.
(Excerpt) Read more at latimes.com ...
We spend more than we take in taxes on just interest, SS, Medicare/Medicaid and Defense. We can’t pay back those loans unless we make deep, deep cuts to those items.
Say goodbye to the old people or hello to our new Chinese masters.
Let’s see if they put action behind words for the next Treasuries auction. This will get interesting.
They are dummmies. I hate the Chinese. After we have imported and bought so much POS crap from them that we are buried in it, they lecture us about military spending. We have even aided them militarily and with NASA know-how. China fell from an elegant civilization to a 3rd world craphole. Now wonder they are so irritable.
However, I feel the US could easily build these terminals and quadruple her coal exports with the intent of selling to China.
Also, to work with Canada to soften her industrial policies and strengthen the export of her natural resources like tar sands oil to be exported to China. This would continue to strengthen the value of the Canadian dollar and make it easier to export American manufactured good into Canada as Canada export her natural resources.
Also, expand Chinese investments into America to create jobs that merege with US technology companies.
Also, provide federal funding to promote tourism of the US to China. Educating the Chinese all the places where they could visit, like Wyoming, Montana, Alaska, etc. and take in the natural beauty. And to even offer tax incentives to businesses that specifically cater to Chinese tourists.
I meant to say “3rd world commie craphole.”
You know what? I agree with him. What this chinese bozo is saying is WAY more American than the bloviation spewing out of the pie-hole of our worthless Kenyan extraordinaire.
Putin said it 5 days ago —the US is a parasite. I’m proud as hell of the USA and yet that does not blind me from the hard truth of what he said —Putin was right.
Now we got Russians and Chinese telling our President what he WILL not hear from us.
How pitiful that non-American dictators have more of a voice with the POTUS than his own people.
But then of course we are NOT his people, now are we?
How perfectly logical.
This is not just a “sad day”, it’s a catastrophe — China is dictating to the US and we comply.
We better all start to learn Chinese...
“That’s the first picture I’ve seen of Obama bowing to Hu. ‘
This is an old picture.
“This president has made us the laughing stock of the world. “
Donald Trump said the same thing.
Donald Trump Rips President Obama, Debt Deal
http://www.foxnews.com/on-air/on-the-record/transcript/donald-trump-rips-president-obama-debt-deal
In the equivalent of a canoe. Many are saying that we are facing "Black Monday" 8-8-11.
Notice that even Communist China is calling for SPENDING cuts and to tax rate INCREASES. The U.S. Socialist Democrat Progressive Party is more leftist than China!
China wants us to cut defense (of course.)
I think we should cut imports from China and restore the domestic manufacturing industry.
And slice megatons of fat in social services costs, as well as abolishing some of the bloated government departments such as Education and Energy.
I know this conflicts with the current administrtion’s agenda, though.
We should tax all imports from the china to achieve parity in the balance of payments in trade. If they want to continue to play games with their currency, then we have to correct the situation.
When did we comply?
OF COURSE they want us to decrease our military spending!
How embarrassing..... I was in such a foul mood this morning because of the downgrade. When the boss called in I started ranting and raving. He said, okay....I'll call ya back later then hung up, lol.
He never called back. There's more to the story, but I always just get to the point, my friends and family hate that about me!
OF COURSE they want us to decrease our military spending!
Restore, Regain, Replace.
Has a nice ring to it. Just like "Cut, Cap & Balance."
You bettter hurry up and trademark that...
And they promise not to lend us anymore money.
I can live with that if everyone really wants to live within their means. You?
But, of course they want us to stop military spending. They want to hold military superiority over us. You can bet your last A bomb.
Actually, this is quite pertinent. The leading world Communist power lectures one of its new satellites on the nuances of socialist financing.
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