Posted on 04/07/2010 2:42:06 PM PDT by TheFreedomPoster
The percentage of U.S. debt owned by foreign investors has skyrocketed from approximately 13% in 1978, to around 60% today. The graph above, from top economist, Veronique de Rugy (one of my favorite), using data directly from the U.S. Treasury, shows the explosion in foreign ownership of U.S. debt, in dollar terms, having more than doubled since 2000 alone...
(Excerpt) Read more at myfreedompost.com ...
It cannot be said often enough: Yes, the US is going down hard, but so is the rest of the world. And it would have happened even if McCain had won. In fact, I think it would have happened if McCain had won and died on Jan 21st of 2009, putting Palin in power. The clock for acting on this ran out of time five or more years ago.
Given that we have debt, what difference does it make who we owe it to. When we default, we may as well screw foreign countries instead of just American citizens.
The article says our debt gives us less leverage in foreign policy. I claim it gives us more, if we would use it (today's "cave-in" administration would not think in these terms) to our advantage. We can tell our creditors to do as we say, "or you aren't getting your money back."
It would be happening at a slower pace.
Exactly. We default, the rest of the world goes belly up, and the New World Order comes in to fix everything. Sorry if I sound like a tin-foil hatter, but it’s patently obvious that’s what the plan is.
If America was to default, it would lose economic credibility and America’s economic pre-emminance would be permanently damaged and sent into.
That would be to some countries great advantage in the long term, if somewhat painful to them in the short. Trust me, America would have much more to lose over all by defaulting than any other country...
I hope you are wrong; but I fear you are right. We have to keep trying, but we need massive change quick in the opposite direction from Obama. He’s sinking our feet in cement up to our hips with obamacare and amnesty alone.
Because the $600 million per day we pay in interest leaves the country. It can’t be invested here, saved here, spent here, etc. They can hold us hostage with the threat of stopping to fund our never ending national debt, and with the threat that they’ll sell off our debt, which, if done in large chunks, would create economic havok.
>>Exactly. We default, the rest of the world goes belly up, and the New World Order comes in to fix everything. Sorry if I sound like a tin-foil hatter, but it’s patently obvious that’s what the plan is.<<
Yes, but it is a VERY old plan. See my tagline
>>In fact, I think it would have happened if McCain had won
It would be happening at a slower pace.<<
Not necessarily. I think Obama is actually being successful at staving off the inevitable. Unfortunately, that is why it got so bad. The longer you put it off, and the more desperate the measures to do so, the more it’s gonna hurt when it crashes. And I personally think Obama’s inexperience and ignorant arrogance is only matched by McCain’s stupidity and willingness to be “bipartisan” at all costs.
All that said, I don’t think Obama will stave it off much longer. The train is coming right at us and you can almost see the whites of the engineer’s eyes. And thanks to Obama’s actions, it will be much worse than I imagined back in september of 2006 when I started publicly predicting this.
I tend to agree with you and hope you are correct.
>>I tend to agree with you and hope you are correct.<<
You do realise I say that with the idea that it will be much worse when it does come, and it will probably come in the next year?
Let's not argue about time frame, but I do agree things, be it the economy or the political corruption, will get worse.
By the way, did you mean to spell it "realise"? I ask because I spell it "realize", which implies you may have learned your English elsewhere. I enjoy getting perspectives from non-Americans and learning from them.
Naw, I miss spelled it. My version of IE at this particular computer does not auto-spell check and I don’t bother to actively do it for short posts on forums. However, it is the correct spelling in the UK. I actually saw it and ignored it for that very reason. :)
Then again, after hitting the search below, it may be one of those gray vs grey things...
http://www.google.com/search?hl=en&source=hp&q=realise&aq=f&aqi=g10&aql=&oq=&gs_rfai=
Thanks for the explanation.
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