Skip to main content

China Suggests The US Stop Living In The Past

  • Author:
  • Updated:
    Original:

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 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,” read the commentary, which was published in Chinese newspapers. [NYT]

Related

If You're Not Pissing Your Pants In Fear Over China, You're Not Scared Enough: Jim Chanos

You should be on your third or fourth pair of pants right now, according to the short seller.