Posted on 07/26/2011 6:15:08 AM PDT by ibytoohi
If you ever try comparing the debt situation in the US and Japan, someone will invariably say: Well, Japan can afford a lot more debt because it's all domestically owned, whereas US debt is owned by the Chinese. It turns out this isn't really true, though unfortunately this destructive myth continues to dominate political/economic debates
Read more: http://www.businessinsider.com/who-owns-us-debt-2011-7##ixzz1TDROITdR
(Excerpt) Read more at businessinsider.com ...
We're fooling ourselves if we think that 'baby boomer' retirement (supported by younger people) will be routine. The load is too heavy. Too many promises have been made.
The government’s SS IOU’s to itself, which are unmarketable, are not part of the publicly traded debt. Thus, foreign entities have nearly 50% of our publicly traded debt.
It is the publicly traded debt that most influences interest rates, not inergovernmental IOUs. Interest rates, like all prices, are determined at the margin. Foreign ownership, and Chinese ownership in particular, does matter.
Those are stowed safely in the lock box. /sarc
In all, the Treasury owes foreigners and foreign governments $4.514 trillion dollars
But Americans own most of their own country’s $14,342,909,569,328.74 of debt.
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