Communist China Lectures Obama On Basic Capitalism


New York/Shanghai

When the US lost its AAA Credit Rating, China slapped their lap dog in the face and told Obama,

the “good old days” of borrowing are over.

“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.

China, america’s largest creditor feels Washington has only itself to blame for its plight and renewed calls for a new global reserve currency.

After a week that saw $2.5 trillion dollars evaporate in global markets, international investors are having deep concerns about an impending recession. The profligate policies of the US and the Euro Zone are adding to the building crisis and neither the us or The EU are willing to cut spending to stop the ever increasing pressures adding to the crisis.

The credit rating downgrade is thought to adversely affect a global dimension, the Euro crisis is only adding fuel to the fire with no relief valve in place.

The political positioning and posturing is seen as pathetic moves to secure political futures in the US rather than addressing the immediate problems. China sighted military and social welfare expenditures as the source of the US “debt addiction”.

“China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its structural debt problems and ensure the safety of China’s dollar assets,”

It urged the United States to cut military and social welfare expenditure. Further credit downgrades would very likely undermine the world economic recovery and trigger new rounds of financial turmoil.

“International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country,” Xinhua said.

We should be prepared for international supervision of our debt. China owns us and they don’t want to lose their investments. Our president will be more than willing to hand over the reins of power, there are rockstars to entertain and barbecues to host. It is called priorities, Obama has an election to think about.

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Skook, the “deer in the headlights” seems to best describe this Administration on pretty well everything going on outside the confines of the White House.

None of this bodes well when Leadership, resolve, spine, assertiveness, knowledge, attention, caring, diligence and a lot less Who-gives-a-shittism, are what America is expecting from dear leader.

Not to screw with anyone’s head, but what the hell is S & P doing with that AA+ downgrade, really? Ratings are Relative measurements, inferring levels of quality, . . . so how is it possible that they’ve handed out this AA+ when the junk in Europe, . . . ECB, France, etc. still holds AAA? That pile of manure is not even AA, it’s just junk. Something smells.

Hope they give our kids a children’s discount when they have to pay all this back.

Capitalism also has a body count.

While there is absolutely no question that the spending has to be reduced from past and current levels, and not, as has just been settled for (limits on spending increases), the S & P move is unexplainable IMNSHO, . . . . the U.S. debt is owed in U.S. dollars which the U.S. effectively controls.

All other foreign countries hold debt in U.S. dollars, which they DON’T control. Ergo, relatively, the U.S. has a better chance of paying off its debt than any other country does. So, AA+? I don’t think that holds much water, nor will this be a determining factor in capital movement. Other more critical elements will have much more impact.

Perhaps it’s just a tap on the shoulder of the Admin. & Congress saying, “Hey, wake up and pay attention. Quit just pretending.”

Interesting, isn’t it Skook? In the past as you know, I have railed about Comrade Obama delivering this country to his handlers in China and so on. Well, he’s just about done that. China can lecture because in their mind they are now the preeminent power in the world, mostly thanks to the asinine policies practiced by this government for the last decade or more and quadrupled up on by the current Anti-American Capitalism clown in the White house!

Skookum. Thanks for the laugh that you provided me with your post. All of this was so easy to predict, yet now obama and crew are blaming everyone else but themselves. In reality last weeks debt bill was a joke, and I think that over 55% of Americans knew it. Poll number maybe higher lower. The Rhinos like McCain knew it, and the other cowardly Rhinos and libdems as well. They all used the same old scare and confuse tactics that we have now seen used repeatedly since Bush Boy used them so well on the first sell out. And the scam worked again! what does that say about the people who support Obi and the Rhinos? What will it take to wake these people up to the fact that we are in some serious trouble, and have been for quite some time. Just look at the list of countries getting ready to go under, Ireland, Spain, Italy, Greece, Portugal, etc…. We maybe facing a world-wide depression, yet our politicians continue to act like a bunch of spoiled teenagers. They keep promising all of us that they will make cuts “tomorrow!” and that the cuts will not be painful! How in Gods name can any worthwhile cuts not be painful. And why always tomorrow? When if ever will they take the necessary steps to stop the hemorrhaging? The Tea Party Doctor in the House has been blunt with what is killing us all, yet all the Rhinos and libdems can do is throw the doctor’s prescription back in his face. Our brave and fearless leaders have adopted the same value that many others in our society have adpoted, “That change does not have to be painful.” That the old adage of No pain, no gain is a lie!. That we can think our way to prosperity! No painful actions required on anyones part! Its sickening and depressing at times to watch these laughing lunatics as they steer us all to what could very well be the worst and most devastating depression the world has seen to date. But lets all stand up and raise your stiffened right arm out, and yell,”Hail to the Republicans and Democrats!” Seriously, thanks for the laugh!


Capitalism also has a body count.

Sources on info supporting your statement, please.

@James Raider:

Not to screw with anyone’s head, but what the hell is S & P doing with that AA+ downgrade, really?

While we, the US, may not be as bad off as many European nations, our debt/GDP ratio is climbing above 1.0, and the long-term and mid-term outlook of our credit and debt outlook is poor considering the sheer numbers of retirees expected in the near future, and that SS and Medicare reform is not being discussed or even touched. The results of that debt ceiling fight make it look like we, as a country, are not concerned about the mounting debt, and that we don’t have a clue, or do not care, about the unfunded liabilities waiting for us in the near future.

Well you can thank the folly of “free-trade” for this mess.

Until we discard that hokey religion-and make no mistake, the adherents of free trade treat it as a religion-there is no climbing out of this hole for the US economy.

@johngalt: #8,

No argument on any of that. Nevertheless, I find it both serious, and peculiar that a single rating agency walk down that plank – singling out a country, the U.S., that is in nowhere near the imminent collapse some others are.

This is also about debt repayment capacity. The U.S. Is in the unique position of having an almost endless capacity to print dollars. . . . . Not sayin’ that’s good, just saying the relative rating is a strange move.

@Ivan: #9,

There is in fact no such thing as Free Trade. There should, however, be much more diligence and backbone brought to the negotiating table with China. This does not seem to exist, that I can see.

@James Raider:

It could simply be that we, the U.S., is in the best position worldwide, with the exception of possibly China, to prevent a world-encompassing economic disaster, and that the actions of our Congress-parasites were so abyssmal that the ratings agency thought it best to try and get our attention.

Or maybe they just don’t like Obama. Because they are racist. Like everyone else who criticizes Obama.

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