China calls for 'new world order,' blaming Congress for risking global economy

[Casper]

http://behindthewall.nbcnews.com/_news/2013/10/14/20957509-china-state-media-blasts-us-shutdown-calls-for-a-de-americanized-world?lite

 

New World Order. Conspiracy theorists, now is your time to shine. Yikes. 

[magley64]

Time to call in the hulkster....

 

 

On a more serious note: Of course they're pissed off. Their treasury bonds are going down in value every time one of these issues comes up.

Just not enough for them to sell them.

Edited October 14, 2013 by magley64

[ReconRat]

The real risk to the global market isn't as terrible as given to us by politicians and media.

The USA has lots of money, and isn't defaulting anything.

So far it's all political posturing, for the next election.

There is a current risk to the USA's credit rating, however.

 

What stands in contention, is the question of changes to increase borrowing, spending, and debt.

The existing amounts of borrowing, spending and debt are high, but containable. Barely.

 

China is simply pushing for a world that isn't tied to the US dollar.

Expect to hear an offer to base the world on the Chinese Yuan.

 

Edit: Yes, the world media, everywhere, is rocking the global markets with doom and gloom.

Edited October 14, 2013 by ReconRat

[Casper]

The real risk to the global market isn't as terrible as given to us by politicians and media.

The USA has lots of money, and isn't defaulting anything.

So far it's all political posturing, for the next election.

There is a current risk to the USA's credit rating, however.

 

What stands in contention, is the question of changes to increase borrowing, spending, and debt.

The existing amounts of borrowing, spending and debt are high, but containable. Barely.

 

China is simply pushing for a world that isn't tied to the US dollar.

Expect to hear an offer to base the world on the Chinese Yuan.

 

Edit: Yes, the world media, everywhere, is rocking the global markets with doom and gloom.

 

I read the other day that it's actually illegal for the US to default. Supposedly there are actually provisions which allow for the US to do all necessary to pay existing debts, and that raising the debt ceiling simply prevents new expenditures. True? 

[Connie14]

I have also read that.

[ReconRat]

I read the other day that it's actually illegal for the US to default. Supposedly there are actually provisions which allow for the US to do all necessary to pay existing debts, and that raising the debt ceiling simply prevents new expenditures. True? 

pretty close. Seems to me the "raise the debt ceiling" is providing new expenditures.

 

edit: Still wrapping my head around the idea we did this every year of the Bush administration.

I don't remember any of that at all. Guess there were quiet negotiations and an agreement.

Edited October 14, 2013 by ReconRat