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  • China tells U.S. 'good old days' of borrowing are over

    From financialpost.com

    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 ... (full story)

President Obama talks about " both parties working together" and mentions a "larger plan". However, it has become clear that President Obama HAS no plan. I don't think President Obama has a clue when it comes to the nations economy. He shows no leadership now or during the debt crisis. It's not the credit rating that worries me..it's the spender(Obama) that will reflect the failure of the government. The Peter principle..good senator bad president.
China better worry about itself instead of giving lessons to others. They have been one of the most oppressive nations when it comes to basic human rights.
Right now, human rights isn't the issue, the issue effects every country and some cooperation is urgently needed to rectify the situation is some way or the other. Cool heads are of the utmost importance.
  •  Guest
  • | IP XX.XXX.11.161
Best thing that can happen to the US
  •  Guest
  • | IP XXX.XXX.62.36
Who truly believes this crap that China has a whole different set of values when it comes to credit. When I am in hong kong or shanghai and even hangzou I see plenty of benzs and bimmers parked around the latest vuitton, chanel or Dior store with people standing in line 10 deep waiting to pay....with plastic. Their credit bubble will pop too some day soon but for now they can't get enough of western lifestyle product and probably take great delight in the irony of it all. Gluttony though, gets us all in the end.
  •  Guest
  • | IP XX.XXX.9.89
Quoting 2+2=4ex
China better worry about itself instead of giving lessons to others. They have been one of the most oppressive nations when it comes to basic human rights.

...ah yes, young liberal, but those ways have made them very rich. Not to rain on your pedestal parade, but if the US had interest in humans rights would be have allowed China to build up as it has through such means?

this world & your world are not what you have been force-fed. Welcome to FOREX where your eyes might be opened.

My advice: open your charts & turn OFF off the TV.
  •  Guest
  • | IP XX.XXX.28.194
the whole worldly financial n democratic system is faulty.. when it comes to democracy, there needs to be trancparency n there should be a contract between people n elected candidate to do the works what he promises otherwise he should be terminated right away as soon as he is found not doing his job properly... same thing with financial system..how can u call urself Superpower, when u r running on 15 trillion debt.. what a joke..
hey is it the End you Fx trading? can anyone explain me?
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  • | IP X.XXX.180.255
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  • Story Stats
  • Posted: Aug 6, 2011 11:10pm
  • Submitted by:
     Newsstand
    Category: Low Impact Breaking News
    Comments: 8  /  Views: 2,495