Have you ever heard the saying "don't spend more than you have"? Well that is exactly the advice China is giving to the U.S.
China is the largest foreign holder of United States debt and on Saturday, China had just about enough telling Washington to 'cure its addiction to debts' and 'live within its means'.
Who would have thought that the tables would turn and China would be the parent while the United States is the addicted to spending child?
Maybe it is time for the U.S. to go through an intervention with its spending and borrowing addiction but the U.S. is not the only facing debt issues. European leaders are scrambling to find ways to fix their financial crisis as they have had to bail out Greece again for the third time among other factors leading them to financial destruction.
Every morning I wake up reading the New York Times off of my IPhone and the headlines are all the same- The world is drowning deep down in a sea of debt and financial crisis. I too feel the waters suffocating as a recent college graduate and the lack of employment opportunities, not to mention the increase of prices in just about EVERYTHING!
So what are we to do when the sky is falling and the walls are closing in on us? Should we look to other countries to live? Or should we wait it out and see if there is a light at the end of the tunnel? One thing is for sure, something needs to be done before living in this down economy consumes the nation and the world.
http://http://www.nytimes.com/2011/08/07/business/global/china-a-big-creditor-says-us-has-only-itself-to-blame.html?_r=1&scp=1&sq=China%20tells%20U.S.%20It%20must%20%20Cure%20its%20addiction%20to%20debt&st=cse
NoSeYintellectuals2010
