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

 

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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 and called for a new stable global reserve currency. end quote.

I think all this might be more posturing than anything else. In the end where are people going to go worldwide for more stable investments than the U.S. ? This is the real question here. The Chinese are posturing like they would for a wayward teenage daughter or son. They are treating the U.S. like someone making bad choices in their family. The U.S. will either "get real" or move out of the house in the end. Hopefully this thing doesn't degrade any further and either the U.S. or China get "Really offended" in some more real way.