Lender Warns Borrower

By now most of us have heard that Standard and Poors has downgraded the credit rating of America to AA+ from AAA.  Of course this downgrade was the FIRST TIME EVER!

Since China is our largest lender and currently holds more of our IOU's than any other one nation....they are less than pleased that the value of the paper IOU's we gave them in exchange for their hard earned wealth, may be declining in value at a rapid pace....so they gave us a warning.

BEIJING (AP) — China, the largest foreign holder of U.S. debt, demanded Saturday that America tighten its belt and confront its "addiction to debts" in the wake of Standard & Poor's decision to downgrade the U.S. credit rating.

China currently owns $1.2 trillion of U.S. Treasury debt, the largest stake of any central bank. The commentary carried by the state-run Xinhua News Agency was Beijing's first official response to the S&P decision.

"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," Xinhu

It said the rating cut would be followed by more "devastating credit rating cuts" and global financial turbulence if the U.S. fails to learn to "live within its means."

"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," it said.

See it here;  http://news.yahoo.com/china-blasts-us-over-credit-rating-downgrade-090534430.html

Did you catch that last paragraph...."...has every right now to DEMAND the...."?  We have become slave to the lender, EXACTLY as the Word of God says.

What happens in this financial mess going forward is anyone's guess.  If the Lord wants the USA to be around in all it's strength for more years to fulfill HIS purposes...then we will, in spite of our gross misuse of our assets and resources.

However, if this nation is in the early stages of judgment and we are destined for destruction....the downgrading and warning may be the first big sucking sound of a once great nation now stuck in sinking sand...and we will perish because our leaders and our people are lacking knowledge of the Word of God.