CHINA: "America Needs To Accept The Painful Fact That Good Old Days Are Over"

Business Insider ^ | 08/06/2011 | Gus Lubin

[SeekAndFind]

China's official comment on the S&P downgrade was harsh and condescending. Released through Xinhua (via Reuters) the statement condemned America for its "debt addiction" and "short-sighted" political wrangling.

"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone," Xinhua wrote.

America's largest creditor, China said it will accelerate diversification away from US treasuries, and that meanwhile it demands reform: "China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China's dollar assets," Xinhua said.

[GAB-1955]

Not if we turn things around, and we can. America has many advantages over China.

[flowerplough]

China’s right.

[WilliamofCarmichael]

They got a point.. Red China's days are doing just fine.

They still have the capacity to kill off tens of millions more of their citizens.

[HiTech RedNeck]

Big bullies, still bumming off the Western world as they swagger. If China were ostracized we’d see just how “tough” they were.

[knarf]

Didn't I read here last night that the high speed train crash has revealed the rail industry (and expected others) is in serious debt itself?

Who is China to tell us anything.

WE put them on the friggin' map.

We'll deal with OUR internal enemy(s) ... you deal with yours.

America will not go down ... not now ... not ever.

[darkwing104]

Dear China...

What would happen if we outlawed Wal-Mart?

[Malesherbes]

The “good old days” were indeed good - and in fact they have been old for some time. They ended about 1970, and since then we have been living it up and dumbing down - and while we were at it, shipping our jobs to China, from whom we now get lectures.

[indthkr]

"The good old days are over"

China's real message: "The American people have now been downgraded. Learn how to say 'would you like fries with that' in Mandarin."

[caww]

America will not go down ... not now ... not ever.

I think they meant our government...and they are right about what they said. As if we don't know that....but they expressly addressed our politicians time and again...and they are right.

Part of this downgrade and the bill etc. of this administration is the fallout from having to hear the International Community moan and groan and throw sticks and stones. It is what was expected.

[gogogodzilla]

Honestly, that’s about all China’s really asking in their statement.

For America to get it’s collective head out of it’s collective @ss and turn itself around.

[pyx]

Hrmmm ... let's look at one key industry in Communist China.

From the Standard & Poor's website ;

China

China Forestry Holdings Co. Ltd. Ratings Raised To 'CCC-'
Following Secured Tender Offer On Notes; Outlook Negative
05-Aug-2011 00:04 EST

AA+ compared to CCC Negative Outlook ... hrmmmm

Glass houses and the ChiComs are haphazardly tossing rocks ,,,

[yldstrk]

Our government is terrible and irresponsible. The American people are basically hardworking, some of them.

[zek157]

China needs to understand that their days of trading us cheap crap for our worthless paper (tbills) are done. How many hungry former factory workers will be roaming their streets in a few months?

[indthkr]

"they meant our government

Who voted for our government?

[caww]

Better said who stayed home and didn’t vote at all.

[LOC1]

Cut, Cap, and Balance

[fallujah-nuker]

ping to an economic patriot.

[bkopto]

"China needs to understand that their days of trading us cheap crap for our worthless paper (tbills) are done."

Agreed. I always have thought that, for their shoddy, easily-broken, never-worked-right-out-of-the-box, poisonous, pet-killing products, we gave them worthless pieces of paper, was fair and square.

[ken21]

ditto.