Because of my previous experiences with protectionists and their very weak math skills, I'll have to ask you what you think US equities are currently worth and where you got the absurd idea that foreigners own more than 50%? Link maybe?
I briefly looked around and didn't find anything difinitive to support my assertion, so I may be wrong about that, yes.
Do you have any numbers to show otherwise? It's an interesting statistic.
One issue is bond ownership, and I did find this discussion at a WSJ blog that assumes that 53% of U.S. Treasurys are held by non-residents, with 29% of them officially held by foreign central banks (unofficially, a much larger fraction) (Nouriel Roubini).
There's no denying that Asian, European, and Arab investors own equity on Wall Street. How much do they own? What is the impact?