Posted on 08/06/2011 6:38:29 AM PDT by 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.
(Excerpt) Read more at businessinsider.com ...
I think the headline is true, and it was all self-inflicted. Turning away from God will do that.
China is right only if we continue on the same self-destructive path.
China needs to accept the fact that she is a third world country only getting rich by turning her people into slaves. When they wise up—its going to be a black day for the Red Chinese. May that day come soon.
RE: Its a bit late for that...
What are your reasons for pessimism?
Actual quote in article: "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.
They don’t know us very well.
anyone who hears this spew from China, and then goes to Walmart or Target and buys cheap Chinese junk, ought to be drop-kicked
Our government rewards irresponsibility and punishes those who work hard, by, for just one example, promoting mortgage modification programs for seriously delinquent homeowners and not extending the same programs to those who have paid their mortgages faithfully.
No, it’s not.
That coming from a Country that plays on an unequal playing field when it comes to monetary value. It’s time for the US to stand up for itself.
Is it a US14.7 Trillion dollar hole right?
If we weren’t donating America $$$ to every other country on the planet where would they/we be? Are we helping countries out so they will buy our goods? or are we being the giant gimme god so they will “like” us?
Q: Who does that help?
A: It helps the banks - who can pretend delinquent mortgages on their books are still worth their face value. Extending the program to current borrowers would do nothing to benefit the banks - it would hurt them.
Nobody cares about rewarding or punishing borrowers - current or not. If the banks wanted every delinquent borrower in the USA executed tomorrow, the government would find some pretext to do it.
When you look at every Republican or Democrat plan by first asking the question: "How do the banks benefit?", our system of government becomes much easier to understand.
Thanks!
Did the trade war start yet?
Did it? Did it? If not why the heck not?? What exactly are we waiting for?
100% tariffs on all chinese imports - and that’s just to start negotiating. Double that, if there’s any push-back.
Proceed to blockading chinese container ships at first sign of china interfering with our economy in any way.
The time for being nice, and pretending things are fine, was about 10 years ago. Things are NOT FINE.
Let’s get this started. It will only become more difficult, the longer we wait.
Bring back American jobs.
Re-industrialize the USA.
And stop kowtowing (not you,... America), for petes sake. TAKE A STAND.
Thanks for the ping.
Eff China, we just have a weak POS POTUS right now. If we get in a real freedom loving American who will work to enact real change, we’ll be just fine.
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