China Criticizes US

It seems that the Chinese are upset that the US credit rating has been downgraded. Generally, I don't much care what the Chinese think, but they are our largest creditor. Xinhua News Agency says:

"China, the largest creditor of the world's sole superpower, has every right now to demand the United States to address its structural debt problems and ensure the safety of China's dollar assets," the editorial said.

"To cure its addiction to debts, the United States has to re-establish the common sense principle that one should live within its means."

When you borrow money from people, they get to tell you how to act.