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Old 08-06-2011, 12:18 PM
 
Location: SC
9,101 posts, read 16,412,043 times
Reputation: 3620

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Sounds like after the news of the downgrade China is shutting us off. No more endless borrowing and no more Dollar as the reserve currency. It is finally time to take our medicine.


"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," China's official Xinhua news agency said in a commentary.


WRAPUP 7-China tells US good old days of borrowing are over | Reuters
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Old 08-06-2011, 12:27 PM
 
47,525 posts, read 69,521,481 times
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Good. If we can't borrow, then we can buy up all that crap they're making over there.

It had to end at some point in time.
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Old 08-06-2011, 12:34 PM
 
Location: SC
9,101 posts, read 16,412,043 times
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Quote:
Originally Posted by malamute View Post
Good. If we can't borrow, then we can buy up all that crap they're making over there.

It had to end at some point in time.
Peter Schiff gives background and explanations of what we can expect.


‪S & P AA+ rating on U.S. Sovereign Debt not Low Enough‬‏ - YouTube
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Old 08-06-2011, 12:34 PM
 
Location: Las Vegas, NV
901 posts, read 1,893,232 times
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It's pretty sad when a communist country feels the need to lecture a capitalist country on how to run it's finances. To make matters worse, China is right.
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Old 08-06-2011, 12:35 PM
 
Location: Raleigh, NC
20,054 posts, read 18,236,495 times
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Quote:
Originally Posted by Trash Can View Post
It's pretty sad when a capitalist country feels the need to lecture a socialist country on how to run it's finances. To make matters worse, China is right.
There, looks better now.
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Old 08-06-2011, 12:38 PM
 
48,505 posts, read 96,610,333 times
Reputation: 18304
Quote:
Originally Posted by emilybh View Post
Sounds like after the news of the downgrade China is shutting us off. No more endless borrowing and no more Dollar as the reserve currency. It is finally time to take our medicine.


"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," China's official Xinhua news agency said in a commentary.


WRAPUP 7-China tells US good old days of borrowing are over | Reuters
Rehtroric for now. Look at treasuries even after the annouccemnt. I think its like someone said.when pickig among dirty shirts to wear .the US is the cleanest of the bunch;at least for now. Did you really expect anything else from China's media?
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Old 08-06-2011, 12:43 PM
 
Location: SC
9,101 posts, read 16,412,043 times
Reputation: 3620
Quote:
Originally Posted by Trash Can View Post
It's pretty sad when a communist country feels the need to lecture a capitalist country on how to run it's finances. To make matters worse, China is right.
It sure is. It is also sad that as many people say, it is easier to set up a business in Communist China than it is here.

Businesses are OVER-REGULATED here and the Obama administration thinks MORE regulation is the answer.
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Old 08-06-2011, 12:48 PM
 
Location: SC
9,101 posts, read 16,412,043 times
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Ron Paul agrees with Peter Schiff . Paul thinks we are "in for a lot of trouble".


‪Ron Paul On Neil Cavuto: Talks about The AAA Rating Downgrade To AA+‬‏ - YouTube
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Old 08-06-2011, 02:30 PM
 
27,625 posts, read 21,056,057 times
Reputation: 11092
Quote:
Originally Posted by emilybh View Post
Sounds like after the news of the downgrade China is shutting us off. No more endless borrowing and no more Dollar as the reserve currency. It is finally time to take our medicine.


"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," China's official Xinhua news agency said in a commentary.


WRAPUP 7-China tells US good old days of borrowing are over | Reuters
What's Walmart's motto?
Shop Walmart...Live Better! and the Chinese certainly are as they go one shopping sprees at Harrods of London.

American suckers.
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Old 08-06-2011, 02:34 PM
 
47,525 posts, read 69,521,481 times
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Quote:
Originally Posted by sickofnyc View Post
What's Walmart's motto?
Shop Walmart...Live Better! and the Chinese certainly are as they go one shopping sprees at Harrods of London.

American suckers.
Yeah but then they'd be dumb because they can get the same Chinese made crap for cheaper at a Walmart.

Harrod’s: Made in China? « england and ireland 2006

One thing I was struck by is that Harrod’s is kind of an icon of London. But in the gift shop, so many of the keychains an assorted souvenirs had the building, a london bus, the union jack and were labelled “Made In China”.

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