The Conservative Cave
Current Events => The DUmpster => Topic started by: Freeper on August 06, 2011, 10:27:50 AM
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thewiseguy (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Aug-06-11 11:15 AM
Original message
China tells U.S. "good old days" of borrowing are over
(Reuters) - China bluntly criticized the United States on Saturday one day after the superpower's credit rating was downgraded, saying the "good old days" of borrowing were over.
Standard & Poor's cut the U.S. long-term credit rating from top-tier AAA by a notch to AA-plus on Friday over concerns about the nation's budget deficits and climbing debt burden.
China -- the United States' biggest creditor -- said Washington only had itself to blame for its plight and called for a new stable global reserve currency.
"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.
http://www.reuters.com/article/2011/08/06/us-eurozone-i...
...and they are the U.S. largest creditor.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1677450
Don't worry DUmmies, China is doing what 0bama did in 2006 when he voted against voting to raise the debt ceiling for Bush, they are posturing and will gladly loan us even more money until they can help us collapse from within.
NutmegYankee Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Aug-06-11 11:16 AM
Response to Original message
1. No surprise - China needs to weaken the USA
They need us out of the way so they can become a world power.
DU wants to weaken America as a superpower just as much, meanwhile you want our central govt to become as strong as China's.
SpiralHawk Donating Member (1000+ posts) Click to send private message to this author Click to add this author to your buddy list Click to add this author to your Ignore list Sat Aug-06-11 11:18 AM
Response to Original message
5. Thanks a steaming pantload, Republicons & TeaBaggers
Edited on Sat Aug-06-11 11:18 AM by SpiralHawk
This is directly your doing...
Why are you blaming the Republicons? They gave you most of what you wanted, now if you could only convince them to tax everyone but you at higher rates.
The day will come, when you fools at DU and leftists all over the country are going to wish the Tea Party had their way and brought spending down to more manageable amounts.
I have great fear for our future, I predict the dems will spin this whole thing and the Tea Party will lose momentum from the voters and come Jan of 2013 0bama will get a second crack at having democrats in majorities in both houses, this time they will make the health care bill look like the good old days.
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All smoke and mirrors. New world reserve currency? Let's look at the possibilities:
1. Due to China's own utter lack of transparency or accountability, it sure as Hell wouldn't be the Yuan,
2. The Swiss have too small an economy for their Franc to be in the running,
3. & 4. The Yen and Euro have even bigger problems than the Dollar.
There aren't any other realistic contenders. It'll remain the Dollar.
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Freeper, the Tea Party warned that our credit rating would be downgraded if enough cutting didn't occur. S&P said $4 trillion in cuts had to happen. The Republicans and Dems compromised on $2.4 trillion or something like that. S&P downgraded the US debt. The Tea Party was proved correct.
How the Hell are the Democratics going to spin that? :???:
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Freeper, the Tea Party warned that our credit rating would be downgraded if enough cutting didn't occur. S&P said $4 trillion in cuts had to happen. The Republicans and Dems compromised on $2.4 trillion or something like that. S&P downgraded the US debt. The Tea Party was proved correct.
How the Hell are the Democratics going to spin that? :???:
Never underestimate the power of spin and lies. People are going to hear how the tea party "terrorists" are to blame for this, and those who pay minimal attention to politics may fall for it.
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Never underestimate the power of spin and lies. People are going to hear how the tea party "terrorists" are to blame for this, and those who pay minimal attention to politics may fall for it.
If the media was still three broadcast channels, PBS, and the major newspapers, I'd agree with you. There's too much info available out there now for the independents to believe the leftist spin.
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Freeper, the Tea Party warned that our credit rating would be downgraded if enough cutting didn't occur. S&P said $4 trillion in cuts had to happen. The Republicans and Dems compromised on $2.4 trillion or something like that. S&P downgraded the US debt. The Tea Party was proved correct.
How the Hell are the Democratics going to spin that? :???:
I need to ask my cousin that.
He already is blaming the Tea Party and the GOP for this.
If his parents were alive today, I'm sure they would demand a refund on his MBA degree.
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I need to ask my cousin that.
He already is blaming the Tea Party and the GOP for this.
Please do!
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China is a Dragon in waiting, they will never forget or forgive Japan or the West for past invasions.
China now has a few problems with the Muslims moving in, never could stand the Russians and Communist take over in southern Asia. Taiwan is a hot spot still.
Quiet China where the people are becoming Westernized and the tradition of honor is leaving day to day.
Frankly, China has the world by the balls, it can at any time build up a small country or devour half a large one.
I never understood why America would borrow money from an enemy, insane, would any rational person sign over their home for a loan from someone that hated us?????
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I posted this in another thread but this says it all:
http://www.cnsnews.com/news/article/final-tab-pelosi-s-speakership-534-trill
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... new stable global reserve currency.
This has been coming for some time. There's something to be said for having a "global currency" that basically made up of various currencies in a mixed market basket. Basically it's a hedge against any one currency going bad and having all your eggs in that one basket. When a currency goes bad now, or some country falls into financial peril, the world's Central Banks step in and prop it up anyway, so it's not really that much of a departure from what we already do.
I liken it to the insurance companies who buy each others big loses and spread the (hopefully short-term) pain over the whole industry rather than having one company go down and start a domino effect. Or in the same manner, it's like reinsurance where the risk is spread over several companies.
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China is going to BE a world power? DUmbass it already is. They have the largest military and one of the largest economies. That book learnin sure didn't help you much did it?
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This has been coming for some time. There's something to be said for having a "global currency" that basically made up of various currencies in a mixed market basket. Basically it's a hedge against any one currency going bad and having all your eggs in that one basket. When a currency goes bad now, or some country falls into financial peril, the world's Central Banks step in and prop it up anyway, so it's not really that much of a departure from what we already do.
I liken it to the insurance companies who buy each others big loses and spread the (hopefully short-term) pain over the whole industry rather than having one company go down and start a domino effect. Or in the same manner, it's like reinsurance where the risk is spread over several companies.
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When we look at what the Government is doing to us, how can we complain about the Liberals that want far less in money to survive from the Government then the very leaders that channel Government money to friends and themselves.
So the Poor want food stamps, rent vouchers, and money for drugs and a new car. They do not want to work we say, well where are the ****ing jobs for them. Oh yes there are jobs that pay $2.00 bucks under the table for the illegal immigrants in slave shops-----
Check out the schools in inner city's, teachers are paid $60,000 a year and only 40% of their students can pass finals tests.
We have been brain washed to believe the poor is lazy and will not work. This is crap, give the poor a job that they can make a Living wage and they will be first to work and last to leave.
The Fact is we have branded the poor as lazy crime prone people. This is not true, Government needs to have a section of the populace to make jobs for people to solve their problems. Need new agency's to hire thousands to cure a problem that is of their own making.
How many times have we heard that there are jobs Americans will not do ????? Naturally one cannot hire for $4.00 pH someone to clean septic tanks------yes the illegals will do this as a last resort under the table.
All this money going to friends, family, donors to a campain could be going to the schools that are falling apart, ignoring the teachers that are being paid money and cannot do their jobs.
Stop blaming our problems on the poor who are given a bad education by a teacher that makes a good living and could not care less about the kids.
Stop blaming our problems on people that are victimised by the government that tells them they can get more money from the government then if they get a job.
It is not the poor that is the problem, it is the Government that keeps them poor to get a great voter base.
Obama road into the White house on this new world hope. Where are the jobs, where are the better schools for the kids, where are the gates for the poor to find jobs????????????
Shit, Liberals become so when the Conservatives fail to protect them, give them a way out of their life style.
have left the poor in the dust to vote for false promises and broken dreams.
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China is a Dragon in waiting, they will never forget or forgive Japan or the West for past invasions.
China now has a few problems with the Muslims moving in, never could stand the Russians and Communist take over in southern Asia. Taiwan is a hot spot still.
Quiet China where the people are becoming Westernized and the tradition of honor is leaving day to day.
Frankly, China has the world by the balls, it can at any time build up a small country or devour half a large one.
I never understood why America would borrow money from an enemy, insane, would any rational person sign over their home for a loan from someone that hated us?????
I wouldn't bet on China's ability at current to do much of anything. Not to say that they won't in the future, but they are not now what you say and may never get there. Their banking system is a secret mess, they have huge infrastructure problems, Shanghai was built up as much for show as for any economic reason, the northeast needs major investment beyond infrastructure, and their total government debt as a percent of GDP may be worse than ours. That is not exactly someone that is about to take over the world.
They are an important country, however, I can not think of another world power in history that essentially harnessed all of it's manufacturing capacity to sell to other countries. Economics would tend to dictate otherwise.