Saturday, August 06, 2011

Forget Mexican, start learning Mandarin

NEW YORK/SHANGHAI (Reuters) - 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 (emphasis mine) 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 out of messes of its own making are finally gone," China's official Xinhua news agency said in a commentary.

*****

Now I'm wondering how long it's gonna be before China starts demanding more and more from us, kinda sorta like your local neighborhood loan shark.
Maybe the Obamessiah should make a trip to China and bow to all those motherfuckers.