China Lectures Obama Administration Again About Rampant Borrowing & Debt
Posted by Jim Hoft on Thursday, May 20, 2010, 5:31 AM
Communist China warned Obama and Democrats about printing money last May.
Communist China warned Obama and Democrats about their historic deficit last June.
Communist China laughed at tax-cheat Geithner when he said their assets were safe last summer.
So it really came as no surprise that Communist China lectured the Obama Administration again yesterday about rampant borrowing and debt.
CNBC reported, via Free Republic:
Sovereign debt troubles in Europe underscore how important it is for the United States to control its own borrowing as its indebtedness reaches concerning levels, a senior Chinese official said on Thursday.
With China facing criticism for holding its currency in a de facto dollar peg, assistant finance minister Zhu Guangyao shifted attention to Beijing’s own worries about U.S. policies, especially its soaring deficit, ahead of high-level bilateral meetings next week.
There will be “quiet discussions” about the yuan at the Strategic and Economic Dialogue, but external pressure will only delay the exchange rate reform that China wants to implement, he told a news conference.
The global economy’s more urgent need is for financial conditions to stabilize in Europe in the wake of Greece’s debt woes, Zhu said.
Who ever thought we’d see the day that the Communist Chinese would be lecturing our radical leaders about fiscal responsibility?
ADVERTISEMENT
-
Featured Story:
Busted!… Obama Headlined a DEMOCRAT SOCIALISTS OF AMERICA Event in 1996 **FLIER**
Published May 24, 2012 at 8:46 pm - 87 Comments
jorgen commented:
And who ever thought we’d see the day that we agreed about something with the Communist Chinese!
katablog.com commented:
I expect that BHO will soon invite China to address a joint session of Congress. Ha ha ha!
Auntie Em commented:
If I had a choice between the two, I’d rather China be running this country than the Obamanation.
Amy Proctor commented:
Gateway, you know I’m living in Korea as an Army wife right now. We have a friend, married to a soldier friend of ours stationed here, who has a food business in China. She lives there for a month at a time, comes home to her husband in Korea and goes back there to work for another month.
She told us today that the Chinese hate Barack Obama as much as they hate Kim Jung Il. They say he is too inexperienced and an empty suit, he makes too many blunders and is too fiscally irresponsible.
Good to know we have a president who will restore America’s image in the world. I guess he DID move us to the #1 indebted status.
Dave In Houston commented:
Dear Leader needs to bow lower. That may work.
History will write that Barack Obama went to China to fund his transformation of America.
Anybody else get the feeling this is not a good idea and will fail miserably?
Does Obama care? Apparently not.
Even a one term President gets a great retirement benefit package. Doesn’t really seem fair, does it?
Highlander commented:
Auntie Em,
I would be more inclined to agree with you if you made the provision that you were only referring to economics because, on that score, the Chinese are right.
Kevin P commented:
As a dear friend of mine says, “We’re SCROOMED! Screwed and doomed.”
SeniorD commented:
The Chinese are getting somewhat concerned that, as may be likely, Zero’s Administration will default on loans (mostly made by the Chinese). Zero has squandered American largess in favor of running truly historic debt levels. As 100% GDP taxation levels rapidly approach, there ain’t nothin’ this clown and his sycophants can do to stop the Chinese from calling in his markers.
I predict a lite night 747 flight to some Indonesian mansion, suitcases and hold packed with TARP money where Zero and his cronies can live in the style to which they feel entitled.
Joanne commented:
China lectures the U.S., because they want to be paid back. We’d all be upset if someone we loaned money to was spending it like a drunk whore.
Peggy commented:
On this issue, the Chinese have a point.
chuck in st paul commented:
Teh funny. A disaster on the near horizon, but teh funny.
Valerie commented:
China has a very long history of capitalism combined with tyranny or oligarchy. They also believe in the wisdom of elders. So, Amy Proctor’s comment above is no surprise to me.
We are scaring the Chinese, not with our military or our freedom, but with our potential fiscal collapse.
Finncrisp commented:
Does this mean after Novermber when the “voter caused power shift” takes effect, that China will embrace our retreat from socialism?
Is that what Change looks like?
BurmaShave commented:
So, will Zippy pay any more attention to the ChiComs than he does to his America peons?
No Man commented:
Joanne #10:
You should be ashamed of yourself!
You uncharitably and unjustly insulted drunken whores everywhere.
Dixie commented:
I wonder if they brought it up early and often.