9th August 2011
Post reblogged from GOD BLESS. with 6 notes
7th August 2011
Link reblogged from Mohandas Gandhi with 87 notes
China’s official comment on the S&P downgrade was harsh and condescending. Released through Xinhua (via Reuters) the statement condemned America for its “debt addiction” and “short-sighted” political wrangling.
“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,” Xinhua wrote.
America’s largest creditor, China said it will accelerate diversification away from US treasuries, and that meanwhile it demands reform: “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,” Xinhua said.
The statement also called for a new global currency: “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.
In other news:
“When you look at this final agreement that we came to with the White House, I got 98 percent of what I wanted. I’m pretty happy,” Mr. Boehner said in an interview with CBS News.
7th August 2011
Post reblogged from Evan's Blog with 126 notes
My guess is that we are not too far away from large-scale rioting here in the US. The economic destruction that has hit the global youth population is starting to boil over into physical rage all over the globe. It’s not just an “Arab Spring.” It’s a global explosion of anger, hopelessness and rage.
It’s just a matter of time before it erupts here. We’re just running out the clock.