NUSA DUA, BALI – Chinese President Xi Jinping and his wife, Peng Liyuan, arrive at the APEC CEO summit venue on October 7, 2013 in Nusa Dua, Indonesia. US President Barack Obama has not attended the annual gathering due to the US government shutdown, seen as potentially weakening the United States attempts to push for an ambitious 12 nation trade pact. (Photo by Putu Sayoga/Getty Images)
By Shepard Ambellas | October 14, 2013 | 1:08pm EST | Editorial
WASHINGTON (INTELLIHUB) — The debt ceiling has been raised 42 times in the last 23 years according to a recent report, signifying that the United States is in more of a financial bind then you might think. In fact, the once great nation is reaching the end of its life as tyrannical figureheads fight to blowout the few remaining morsels. Begging the question: will stakeholders come collect?
Hundreds of thousands of government workers currently remain furloughed under the recent government shutdown which started on Oct. 1, and some se no end in sight as both parties are seemingly battling it out on Capitol Hill. However, one thing is for sure; If indeed the debt ceiling is lifted, the steeper the graph gets, bringing us closer as a Nation to entering a full-on blowout likely resulting in a total economic collapse and the implementation of martial law on the streets of America.
The WashingtonPost.com reported, “Since 1980, the debt ceiling has been raised 42 times. It was raised 17 times under Ronald Reagan, four times under Bill Clinton and seven times under George W. Bush. Congress is currently in a contentious debate with the White House on whether to raise the ceiling again by mid-October, which would be the sixth increase under Barack Obama. Bars indicate the debt each month of the year.”[1] While it appears raising the debt ceiling is a normal trend on paper, the procedure is overstepping all boundaries of standard business law and makes no logical sense, thus exposing the anti-logical nature of the puppeteers who pull the strings.
Monday, news surfaced that the U.S. Department of Labor and Industries failed to release their recent job report as they remain closed due to the ” government shutdown”. Now, future economic reports are said to be at stake, including the monthly U.S. Treasury statement and Consumer Price Index Report causing major confusion amongst some and even raising suspicion that things are even worse than announced.
Political rhetoric heated up Monday on a Fox News televised broadcast when Alan Colmes stated, “Almost every poll shows that Americans are blaming republicans for this”, keeping the left-right battle going for the onlookers. However, none of this is a game as tensions are even heating up over seas in the most populated country in the world.
China is not having it. William Wan wrote, “The political standoff in Washington has spawned frustration and growing worries in China, which remains the largest holder of U.S. government debt, as the clock ticks down to a possible U.S. debt default this week.
The crisis shows that China and the rest of the world should start to “de-Americanize,” according to a strongly worded commentary from Xinhua news agency, China’s leading government-controlled news outlet.
“The world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites,” the commentary said. “Such alarming days when the destinies of others are in the hands of an hypocritical nation have to be terminated.”
“The congressmen are behaving irresponsibly not only for other countries but also for its own creditors,” said Mei Xinyu at the Chinese Academy of International Trade and Economic Cooperation, which has ties to China’s Ministry of Commerce. “They are gambling the U.S. future on their political struggle interests.”[2]
Major stakeholders of U.S. debt are not liking what is going on in Washington. And if the whole bottom falls out, some speculate that the Chinese will come and take what’s owed to them, as our social security numbers have already been leveraged to them as a way of default payment, i.e. the Chinese might own us soon.
The International Monetary Fund (IMF) has also issued a recent warning along with Germany.
Sources:
[1] Which presidents raised the debt ceiling – WashingtonPost.com
[2] U.S. debt crisis spurs Chinese calls for ‘de-Americanized’ world - WashingtonPost.com
Writer Bio:
Shepard Ambellas founder, director and editor-in-chief of Intellihub.com, is a researcher, investigative journalist, radio talk show host, activist, and filmmaker. Follow him onTwitter.
For media inquires, interviews, questions or suggestions for this author, email: shepard@intellihub.com or telephone: (347) 759-6075.
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Will China Soon Own America and its Contents, its Citizens?
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