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Thread: Time to stop borrowing?

  1. #1
    Inactive Member simple man's Avatar
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    Time to stop borrowing?

    The Chinese think so. Funny they might have so much tied up in our debt, they can't afford to let the USA fold.

    SHANGHAI ? China, the largest foreign holder of United States debt, said Saturday that Washington needed to ?cure its addiction to debts? and ?live within its means,? just hours after the rating agency Standard & Poor?s downgraded America?s long-term debt.
    The harshly worded commentary, which was released by China?s official Xinhua news agency, was Beijing?s latest effort to express its displeasure with Washington.
    Beijing?s reaction to the downgrade was the harshest among foreign leaders.
    Officials in Japan and France said their faith in the United States government remained strong. The Australian prime minister, Julia Gillard, warned against overreacting, while the Indian finance minister, Pranab Mukherjee, said the downgrade had created a ?grave? situation, one that would require some time to analyze.

    NYT: China tells US to 'cure its addiction to debt' - Business - US business - The New York Times - msnbc.com
    We'll keep the lights on for you.
    Spuds

  2. #2
    Inactive Member Shooter's Avatar
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    Re: Time to stop borrowing?

    Im afraid the US has seen it's peak, and we are on the downhill slope like every other superpower in history.
    "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." -Thomas Jefferson

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