China Blasts U.S. Over Credit Rating Downgrade, Debt 'Addiction'

Discussion in 'Politics' started by WillowTree, Aug 6, 2011.

  1. WillowTree
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    WillowTree Diamond Member

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    BEIJING -- China, the largest foreign holder of U.S. debt, demanded Saturday that America tighten its belt and confront its "addiction to debts" in the wake of Standard & Poor's decision to downgrade the U.S. credit rating.

    China currently owns $1.2 trillion of U.S. Treasury debt, the largest stake of any central bank. The commentary carried by the state-run Xinhua News Agency was Beijing's first official response to the S&P decision.

    "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 said.

    It said the rating cut would be followed by more "devastating credit rating cuts" and global financial turbulence if the U.S. fails to learn to "live within its means."

    "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," it said.

    Xinhua said the U.S. must slash its "gigantic military expenditure and bloated social welfare costs" and accept international supervision over U.S. dollar issues


    China Blasts U.S. Over Credit Rating Downgrade, Debt 'Addiction'
     
  2. Truthmatters
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    Truthmatters BANNED

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    Its time to increase our income so we can pay our debts
     
  3. Neotrotsky
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    Neotrotsky Council to Supreme Soviet

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    With Downgrade, time to remove boondoggle of ObamaCare off the back of the US economy


    Indeed,
    with the Left mantra of "more tax more tax", they say PapaObama is off the table

    Even CBO says PapoObama Care kills jobs

    CBO Says ObamaCare Will Kill 800,000 Jobs
    [ame=http://www.youtube.com/watch?v=Jskjci1ZL9Q]‪800,000 Jobs Gone: CBO Admits Health Care Law Will Kill Jobs‬‏ - YouTube[/ame]

    Some studies have shown that PapaObama care is having a real impact on
    killing jobs NOW

    Analysis: Job Growth Was 10-Fold Higher Before the Democrats Passed Obamacare

    “Private-sector job creation initially recovered from the recession at a normal rate, leading to predictions last year of a “Recovery Summer.” Since April 2010, however, net private-sector job creation has stalled. Within two months of the passage of Obamacare, the job market stopped improving. This suggests that businesses are not exaggerating when they tell pollsters that the new health care law is holding back hiring.”

    Sherk writes that Obamacare “discourages employers from hiring in several ways:
     
  4. dilloduck
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    dilloduck Diamond Member

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    Isn't this how Reagan defeated Russia ?
     
  5. dilloduck
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    dilloduck Diamond Member

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    By selling Alaska maybe ?
     
  6. geauxtohell
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    geauxtohell Choose your weapon.

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    If China wanted to help, they could crack down on their billion dollar intellectual property theft operations. It's ironic that they are going to lose money now after years of undermining our economy.
     
  7. BoycottTheday
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    Dr Savage suggested 20% tariff on Chi.com chit, sounds like a good time to take that advice.

    :clap2:
     
  8. geauxtohell
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    geauxtohell Choose your weapon.

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    We can't horse with China too much as they own a shit ton of our debt. If they wanted too, they could really fuck with us.

    As it stands, we are lucky that they still see us as an investment that it going to pay off and haven't started a sell off.

    Our whole Iraq adventure is really paying off now.........
     
  9. WillowTree
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    WillowTree Diamond Member

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    get out your checkbook. write big numbers. send to obiedoodle.
     
  10. Avorysuds
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    Avorysuds Gold Member

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    Show us how TM, give us hard numbers...

    I/we can show you with cuts alone how to balance the budget in 5 years, lets see if you can even do 1/10th of the problem a year in more taxes.
     

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