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07-24-2011, 01:19 PM #1
Who owns America? Hint: It's not China
Who owns America? Hint: It's not China
A close-up look at who holds America's debt.
GlobalPost
Thomas Mucha
Truth is elusive. But it's a good thing we have math.
Our friends at Business Insider know this, and put those two principles to work today in this excellent and highly informative little slideshow, made even more timely by the ongoing talks in Washington, D.C. aimed at staving off a U.S. debt default.
http://www.nytimes.com/2011/07/21/us/po ... .html?_r=1
Here's the big idea:
Many people — politicians and pundits alike — prattle on that China and, to a lesser extent Japan, own most of America's $14.3 trillion in government debt.
But there's one little problem with that conventional wisdom: it's just not true. While the Chinese, Japanese and plenty of other foreigners own substantial amounts, it's really Americans who hold most of America's debt.
Here's a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider:
http://www.businessinsider.com/who-owns-us-debt-2011-7#
Hong Kong: $121.9 billion (0.9 percent)
Caribbean banking centers: $148.3 (1 percent)
Taiwan: $153.4 billion (1.1 percent)
Brazil: $211.4 billion (1.5 percent)
Oil exporting countries: $229.8 billion (1.6 percent)
Mutual funds: $300.5 billion (2 percent)
Commercial banks: $301.8 billion (2.1 percent)
State, local and federal retirement funds: $320.9 billion (2.2 percent)
Money market mutual funds: $337.7 billion (2.4 percent)
United Kingdom: $346.5 billion (2.4 percent)
Private pension funds: $504.7 billion (3.5 percent)
State and local governments: $506.1 billion (3.5 percent)
Japan: $912.4 billion (6.4 percent)
U.S. households: $959.4 billion (6.6 percent)
China: $1.16 trillion (8 percent)
The U.S. Treasury: $1.63 trillion (11.3 percent)
Social Security trust fund: $2.67 trillion (19 percent)
So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion.
Source: http://www.globalpost.com/dispatches/gl ... ling-china
For a smart take on how President Obama and House Republicans should end gridlock over debt and deficits, see our new GlobalPost series The Negotiator, which features Wharton's negotiation guru Stuart Diamond.
And to bone up on China's debt — another potentially big global economic headache — check out this interview with brainy-yet-coherent Northwestern University economist Victor Shih, who spoke with GlobalPost's David Case.Join our FIGHT AGAINST illegal immigration & to secure US borders by joining our E-mail Alerts at http://eepurl.com/cktGTn
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07-24-2011, 01:19 PM #2
The TRUTH About Who Really Owns All Of America's Debt
http://www.businessinsider.com/who-owns ... ong-kong-1
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07-24-2011, 03:34 PM #3
Very interesting!! Thanks for sharing!
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07-24-2011, 04:11 PM #4
China: $1.16 trillion (8 percent)
The U.S. Treasury: $1.63 trillion (11.3 percent)
Social Security trust fund: $2.67 trillion (19 percent)
These top two amounts of debt owned by the US Treasury and the Social Security fund are merely the US Government consuming itself. They have bought up our own debts to manufacture more currency into the system.
China is in 3rd place numerically, but the place China is really getting America is in the fact they have compromised most of the upper levels of our government and bought off our lawmakers. Thus China uses its influence to enslave us in debt while making sure American policy makers make all the wrong choices for Americans and all the right choices for China that wants to see the US destroyed and her people enslaved.
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07-24-2011, 04:35 PM #5Originally Posted by ALIPACJoin our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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07-24-2011, 08:43 PM #6
If previous administrations hadn't taken the Social Security funds we would be in much better shape.
More money is owed to Social Security than to China.
Social Security trust fund: $2.67 trillion (19 percent)
China: $1.16 trillion (8 percent)NO AMNESTY
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