China blasts US debt bomb

China blasts US debt bomb

www.smh.com.au

China has warned that tortured efforts to raise the US debt ceiling had failed to defuse Washington's "debt bomb", and that it would further diversify its currency holdings away from the greenback.

"The months-long tug of war between Democrats and Republicans ... failed to defuse Washington's debt bomb for good, only delaying an immediate detonation by making the fuse an inch longer," the commentary said.

Rating cut
Also on Wednesday, Xinhua said Chinese rating agency Dagong, which has links to the government through its chairman, had downgraded the US's credit rating from A+ to

(visit the link for the full news article)

Ouch. The dog is biting the hand that feeds it. Or was this part of the plan all along? Pretty big words coming out of China, also considering Putin came out yesterday saying America is a basket case. We haven't heard the end of it, things are going to get ugly. Will we see a counter comment from the States, or will they put their tail between their legs and run and hide?

www.smh.com.au
(visit the link for the full news article)

[atsimg]http://files.abovetopsecret.com/images/member/68719af0abcc.png[/atsimg]

reply to post by dingleberry77


China is probably one of the causes of the U.S. debt

I am suprised not much has been said about the stock market being so low, because of this issue, I mean dow jones down 265 that hasnt happened for a long time now

They are just calling it how it is.

This nation is stupid for letting them raise an unsustainable debt.

Raising the Debt ceiling when you already owe more than you are capable of paying is the most ridiculous thing anyone could ever think of doing. You dont pay an unpayable debt down by adding more debt to the calculation, no matter how you look at it. You dont use the +sign on the calculator you use the -sign. So simple a caveman could do it.

But nooooooo. We dont even have cavemen running our government. We have the equivelant of an Aborted Fetus runnin the show.

reply to post by dingleberry77


To be expected, you can't fix debt problems by taking on more debt.

The US is also devaluing the Dollar , this won't please the Chinese either.

As the Dollar is a Federal Reserve note, i expect it to last as long as the Federal Reserve mandate ie 100yrs from 1913....

The Dollar will be gone by 2013, the game now seems to be who will be the shmuck left with a pile of worthless paper.

Cosmic...

Just wait it will get worse before the week ends. Wait till the rest follows what China just did. Remember Germany did it first months ago.

The domino's are starting to fall and theres no way to stop it

Uhbuma was put into office to destroy his own country. So far, he has exceeded expectations.

Originally posted by Violater1
Uhbuma was put into office to destroy his own country. So far, he has exceeded expectations.

how is this ALL his fault?

Why are people bashing this? What was said is 100% fact. I should even have to give China props because the statement made is like saying "the sky is blue". I mean DUH of course the gov peoples are just gonna put things off until they're out of office. Selfish bastards..

reply to post by My.mind.is.mine


I dont see anyone bashing this well im not because its the truth and all Americans know it.

Well I don't know, It seems like my neighbor couldn't pay his mortgage or his credit card debt and even though he's for the most part unemployed, some fool gave him a two trillion dollar Master Card! China and Russia are going to see this as any sentient being would...It's unsustainable!

Originally posted by minkmouse
Well I don't know, It seems like my neighbor couldn't pay his mortgage or his credit card debt and even though he's for the most part unemployed, some fool gave him a two trillion dollar Master Card! China and Russia are going to see this as any sentient being would...It's unsustainable!

What a Trillion master Card??? @#*&! i want one

Originally posted by Intoxicatedrum
reply to post by dingleberry77

 

China is probably one of the causes of the U.S. debt

[atsimg]http://files.abovetopsecret.com/images/member/ed5f910f7604.gif[/atsimg]


Guess delaying things doesn't fit their plans.


David Grouchy

Originally posted by davidgrouchy

Originally posted by Intoxicatedrum
reply to post by dingleberry77

 

China is probably one of the causes of the U.S. debt

[atsimg]http://files.abovetopsecret.com/images/member/ed5f910f7604.gif[/atsimg]


Guess delaying things doesn't fit their plans.

David Grouchy

Lmao priceless

Suddenly you will see him thinking when he gets the news Oh o

reply to post by dreamfox1


A few more months of quantitive easing and you just might get that Trillion Dollar credit card...

....you'll need it to by that million dollar loaf of bread.

Cosmic...

Originally posted by Cosmic4life
reply to post by dreamfox1

 

A few more months of quantitive easing and you just might get that Trillion Dollar credit card...

....you'll need it to by that million dollar loaf of bread.

Cosmic...

lol so right you are

I can imagine how expensive water will be.

I have to ask.... How much of this would or would not have happened if Enron hadn't fudged itself?

Sorta makes me wonder if this has been one big snowball of events that began with Enron being the straw that broke the camels back?

Whatever the cause, not much will change until people start spending again. Though I think the big economic task will be stimulating the export market. Once the US markets start to move then the employment situation will resolve itself and have a knock-on effect throughout the welfare and health systems.


Does anyone have a magic wand?

To add....

A few more months of quantitive easing and you just might get that Trillion Dollar credit card...

....you'll need it to by that million dollar loaf of bread.

Cosmic...

Hmm .....Trillion dollar credit card..... Is that "Uranium"?

Originally posted by OccamAssassin
I have to ask.... How much of this would or would not have happened if Enron hadn't fudged itself.

Sorta makes me wonder if this has been one big snowball of events that began with Enron being the straw that broke the camels back?

Whatever the cause, not much will change until people start spending again. Though I think the big economic task will be stimulating the export market. Once the US markets start to move then the employment situation will resolve itself and have a knock-on effect throughout the welfare and health systems.


Does anyone have a magic wand?

Ah Enron i remember them and no sorry no magic wand.

Well maybe and maybe not depends if they would of still been around.