China is loosing patience with the Us over its inability to agree a debt-ceiling plan.
http://rt.com/news/china-us-debt-default/
http://rt.com/news/china-us-debt-default/
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I never would have loaned someone money that had our credit issues. -
China is going to take every shot they can at making America look bad..
It'll just make them the next superpower quicker... Too bad the US won't really put them in their place...Comment
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If Washington decides to default and thats a big if. I wonder if China will drop the dollar as its main reserve currencyComment
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China gives us money to buy their crap products since no one eles wants it, so they are fucked without us. Plus we have better weapons so we only have to pay if we want to they have to kiss our ass. What are they going to do fight us, we don't fight conventional wars anymore based on amounts of people, it's based on weapons, and we win.
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We didn't have credit issues until this congress created them. We had the best credit rating in the world a few month's ago.
We may have been carrying too much debt, but you should know that for a massive business venture carrying debt is as much an asset as a liability.
They called it leverage not long ago.
Republicans keep making comparisons to family budgeting, but a more correct comparison is to the budgeting of a giant corporation.
In a business, the ability to leverage is a positive.Comment
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No worries, Boehner ran it by Rush Limbaugh first. Should be fixed soon.
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they have been raising the ceiling with no issues for decades.
of course the tea party shenanigans are going to get the US credit rating lowered which will end up costing more than any debt level increase.
idiots ...Comment
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Possibly, I've heard that statement here, but it is not typically emphasized in teh economics news I read.
I'd have to see the supporting sources - do you have them? It might be interesting toi look at that claim.
However, that's a peculiarity of our governing system, only one other country in the world has a debt ceiling law. All other countries give themselves the right to borrow as they see fit.
However, my point was, we had excellent credit until the new tea party driven republicans in the house decided to make this an issue.
We would not have any problems borrowing more money if it were not for the house. Our creditworthiness was not a concern globally.Comment
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As Agent says it has been raised through the decades
Since March 1962, the debt ceiling has been raised 74 times
http://money.cnn.com/2011/01/03/news...faqs/index.htm
I was actually getting it mixed up with this "Third Blow" they are talking about for the US
The first strike came in 2008 when the subprime bubble popped and plunged the world into recession. Since then, a seemingly endless stream of reports and documentaries on the American financial system has transformed its image from being the envy of the world into the poster child for capitalism gone wrong.
The second strike came in the fall of 2010 when the Federal Reserve went ahead with a controversial second round of quantitative easing, now ubiquitously (perhaps infamously) known as ?QE2?.
http://chinausfocus.com/slider/has-t...conomic-power/Comment
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As Zakaria says, many people around the globe see the damage as already having been done.
So the house succeeded in that at least.
http://globalpublicsquare.blogs.cnn....one/?hpt=hp_c1
Most of the analysts I have read, incidentally, are saying that the medicare problem was caused by medicare part b, the prescription drug payment plan championed by Bush and teh republicans. The one in which we guarenteed massive pharm company profits while making it illegal to negotiate for lower prices.We face downgrades and investor panic not because of our deficits but because we are behaving like deadbeats, refusing to pay our bills, pouting while the bill collector waits at the door.
We do have a large deficit and debt and we do need to get it under control. That the Tea Party has raised awareness about this is admirable. And I agree with their view that the current set of entitlements - Medicare especially - have to be reformed dramatically to get our fiscal house in order. But that is not an excuse to endanger the good standing of the United States.
First you pay the bills and then you figure out how to change your spending habits.
The tragedy here is that the damage may already have been done.
From now on, every time the debt ceiling needs to be raised, the world will wonder: Will the U.S. stand by its promises or will it break them?
Something that was taken for granted - the credibility of the United States - is now surrounded by uncertainty. In her interview with me to be aired this Sunday at 10am ET/PT on GPS, IMF Managing Director Christine Lagarde says that "Global markets have always had a positive bias towards the United States but that is now eroded somewhat."
For this erosion, we have only ourselves to blame.
The wars, the bush tax cuts, and medicare part b make up the largest part of our deficit growth.
I dont see republicans lining up to criticize medicare part b. They lump that in with the original medicare, which had been doing okay, and was at least fairly well funded in budgeting (at the time), unlike the completely unfunded medicare part b.Comment
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the big BLA ... you have weapons eh? how about brain? thats much harder to pay isnt it? go get some
china OWNS america already ... failed at maths? US = ~240 million citizens (living on debts) VS CHINA = 1 BILLION citizens banking green every year ... do you REALLY think you could withstand that "red flood"? you cant be that shortsighted eh? or do ya still think the US is prime? ... FAIL ... you are BANCRUPT - FACE IT!
There aren't enough faces and palms on this planet for an appropriate reaction to religion.
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China... what a bunch of dumb asses.Comment
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Pigshit.the big BLA ... you have weapons eh? how about brain? thats much harder to pay isnt it? go get some china OWNS america already ... failed at maths? US = ~240 million citizens (living on debts) VS CHINA = 1 BILLION citizens banking green every year ... do you REALLY think you could withstand that "red flood"? you cant be that shortsighted eh? or do ya still think the US is prime? ... FAIL ... you are BANCRUPT - FACE IT!When you're running down my country hoss...you're walking on the fighting side of me!
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Fuck china, They need us more than we need them!
.Last edited by L-Pink; 07-30-2011, 06:35 PM.Comment
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Chinese play big joke, they make pee pee in your coke.Comment
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fuck china. They ass rape the USA 8 ways to sunday. Lets see. lead paint in toys. Toxic drywall. manipulate the currency to prevent imports from competing in their economy. Piracy so bad, they dont just make fake apple products, they make fake apple stores. The idea that china is ascending on the back of fake products, short cuts & child labor is a sick joke.
If our government was sane, they would declare a trade war with china, instead of letting our corporations shift US jobs over to their slave labor (apple, nike) but no, we need chinese cash to finance the runaway entitlement & military spending.
Our government is a tool of corporations & the public employee/unions. They are all wrecking the USA with unbridled spending, lax tax & trade laws that benefit themselves at the expense of the public. Boners proposal cuts 100 billion a year when the deficit is 1.5 trillion? & boner has the balls to order the tea party to vote for that? No wonder he looks like a fool.
Tea party is saying, enough is enough. Let the government live only on the cash coming in until the leadership puts forward a serious bill to stop the runaway debt. For once someone in congress is voting on principle instead of being lapdogs to wall street...guaranteed wall street does not want a default.
But everyone here hates the tea party because they are dumb & right wing & koch pawns. They are the only people forcing the government to face the problem of runaway spending. You all should be grateful for their stand they are taking. Tea party fights for america.Comment
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the tea party "is" wall street. if you don't see that you are a duped fool.Comment
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I think you are grossly misjudging what the "tea party" wants. They don't want the government to live off of the cash coming in. They want to completely choke out and strangle the government so it dies. They don't want any taxes on anyone/company for any reason. They want Government to keep its filthy hands off their medicare!
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Regulations kill the poor businesses who are only looking to innocently exploit, pollute and enslave for the pure innocent purpose of profits for shareholders/executives.
Maybe my sarcasm meter is malfunctioning because I know i've seen you be tongue-in-cheek and (i hope) sarcastic about these things before.Last edited by uno; 07-30-2011, 08:48 PM.-uno
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that's makes sense because the usa is defiantly winning in Iraq and Afghanistan against shepherds and lets not forget about Vietnam because the usa defiantly won that one
population of china 1,331,460,000
population of usa 307,006,550
population of Chinese in usa 3,796,796
ow and i thort you would like this vid USA IS DOOMED
i have worked and lived in the usa and loved every minute of it but its peoples attitudes like yours that really piss me off thinking that the usa is the best all the timeComment
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-uno
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The world doesn't give a shit what China thinks...they will probably implode before taking over slot #1.
Next to
Israel
North Korea
Pakistan
Iran
probably they are most despised.Last edited by Captain Kawaii; 07-30-2011, 08:59 PM.Comment
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If push comes to shove China means very little. Nor any other country/entity who has financial or real property holdings within the United States.
Again, that's if push comes to shove. The US will freeze and capture all their assets within US jurisdiction and boundaries.Comment
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you have to be kidding...
it's been pretty evident for decades that there was no chance of us ever paying off our massive debt and everyone has known this. bill clinton was the last president to do the impossible and actually balance a 4 year budget. all that means is that for once we managed to not increase our debt but we didn't do anything to pay it off...and don't forget about the interest.
the entire world economy is a house of cards and china, the EU and every other "developed" nation is complicit. we will all fail together. i'm not a conspiracy theorist at all, but i believe in most of what is laid out in the zeitgeist films regarding the modern monetary system.Comment
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Show me an article that says we had less than a triple A rating a month ago or earlier.
You do understand what creditworthy means right?
People wouldn't buy greek bonds at 16% (or whatever they were selling for recently) but we had no problem at all selling dollar debt.
The market did not think we could not pay back the bonds we were selling.
You are confusing a certain subsector of the population's political opinion with the market's estimation of our credit standing.
Your beliefs about america's security does not determine wether or not treasuries were selling.Comment
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You do understand that there is a difference between hitting the debt ceiling and default, right?
In any case, what I said was, I did not know, the economic news I read has not said anything I recall about 3 instances of near default.
If they did, I'm not sure what difference that would make, altho I would grant that it was an indication that the american congress is incompetent.
It could be true, but I do not know it to be true.
I do however know the difference between hitting the debt ceiling and default.Last edited by Bill8; 07-30-2011, 10:20 PM.Comment
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china next super power.
what kind of porn Chinese people like ? :PComment
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You guys are a bit confused. China is the second largest economy in the world (second only to the USA).
China IS going to be the next super power whether you like it or not so deal with it."In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George OrwellComment
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The US certainly owes China a good amount of money, but for whatever it's worth, I think it's less than 9% of the total US debt pie.
A giant pile of cash, and maybe the largest chunk owed to a single entity, but still... just a percentage of the deficit.Comment
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