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Thread: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

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    CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    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.
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Mr. Invisible View Post
    I've been saying this for some time.
    We aren't the only economic power house in the world anymore.
    We have to realize that the world market has other competitors.

    I'm quite sick of people pining for the good ole days in the 50's, 60's and 70's.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Harry Guerrilla View Post
    I've been saying this for some time.
    We aren't the only economic power house in the world anymore.
    We have to realize that the world market has other competitors.

    I'm quite sick of people pining for the good ole days in the 50's, 60's and 70's.
    China demands reform from America; sad but obviously necessary.

    A lesson from communists about capitalism.

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Mr. Invisible View Post
    as i said on another thread, fine. bring the manufacturing sector back to the states. then we won't have the need to borrow.

    trading our manufacturing sector for borrowing power and "cheap" goods has not worked.

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Helix View Post
    as i said on another thread, fine. bring the manufacturing sector back to the states. then we won't have the need to borrow.

    trading our manufacturing sector for borrowing power and "cheap" goods has not worked.
    I work in manufacturing, been doing so for the past 4 years.
    Keeping people employed in manufacturing is a problem, even during the recession and the stagnation following.

    We've had a 50% turnover rate for new employees on my line, when the rate of pay is higher than most anything in the surrounding area.
    People don't want to do it anymore.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Harry Guerrilla View Post
    I work in manufacturing, been doing so for the past 4 years.
    Keeping people employed in manufacturing is a problem, even during the recession and the stagnation following.

    We've had a 50% turnover rate for new employees on my line, when the rate of pay is higher than most anything in the surrounding area.
    People don't want to do it anymore.
    your claim is that there are good paying unfilled positions that people don't want?

    put the jobs on careerbuilder and on your state's workforce development website. my guess is you'll find people quickly. many folks in my area are desperate for that (or any other) kind of work.

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Helix View Post
    your claim is that there are good paying unfilled positions that people don't want?
    Right about half, I think 5 of 10 people brought in, have quit.


    Quote Originally Posted by Helix View Post
    put the jobs on careerbuilder and on your state's workforce development website. my guess is you'll find people quickly. many folks in my area are desperate for that (or any other) kind of work.
    I'm not in charge of anything like that, they go through a temp service.
    The jobs are temp to hire, with good benefits if you can actually work.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    The U.S. and other Western states have allowed China to get away with its neo-mercantilist policies for two decades... the results are coming home to roost. Time to take China to task for its policies -- currency manipulation and the use of non-tariff barriers to make imports of many goods exceedingly difficult with the express purpose of depressing them -- though it may already be too late...
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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    China's being harsh, but... what they're saying is not wrong. It's just a shame that it had to be China of all countries saying "I told you so". The only way it could be worse is if it were Russia saying it.

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    Re: CHINA: "America Needs To Accept The Painful Fact That The Good Old Days Are Over"

    Quote Originally Posted by Μολὼν λαβέ View Post
    China demands reform from America; sad but obviously necessary.

    A lesson from communists about capitalism.

    You...understand this isn't a real video from real communists, right?
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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