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China, the largest foreign investor in U.S. government securities, joined Russia in criticizing American policy makers for failing to ensure borrowing is reined in after a stopgap deal to raise the nation’s debt limit. People’s Bank of China Governor Zhou Xiaochuan said China’s central bank will monitor U.S. efforts to tackle its debt, and state-run Xinhua News Agency blasted what it called the “madcap” brinksmanship of American lawmakers. Russian Prime Minister Vladimir Putin said two days ago that the U.S. is in a way “leeching on the world economy.” The comments reflect concern that the U.S. may lose its AAA sovereign rating after President Barack Obama and Congress put off decisions on spending cuts and tax increases to assure enactment of a boost in borrowing authority. China and Russia, holding a total $1.28 trillion of Treasuries, have lost nothing so far in the wake of a rally in the securities this year.
Originally posted by snowspirit
The business guy on Canada's morning news feels that the world is still very nervous, which is why stock markets are for the most part, still going down.
Paying for the debt with more unaffordable debt, and all the childlike arguing, and now the "super-congress" isn't helping America's image. :shk:
Our economists have often come on TV looking both very confused and amused at how the US is doing business these days.
The US is still Canada's main trading partner, but we started looking towards other trading partners a few years ago, it seems like we expected the US economy to end up in the crapper.edit on 3-8-2011 by snowspirit because: took out unnecessary quote
Originally posted by BobAthome
You know there is the scary thought that after raiding the servers of most U.S controlled Banks,, that it was found that the U.S Govt. was shall we say in the most polite of all terms,,, cooking the books,,
edit on 3-8-2011 by BobAthome because: (no reason given)
My question is what happens when other countries collectively decide that the US will never stop feeding it's spending addiction, and "cut us off"?