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  1. #1
    Atomic Punk
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    12.11.17 @ 04:37 PM
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    Default Who owns America? Hint: It's not China

    By Tom Mucha, Global Post

    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.

    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:

    •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.

    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.
    "Watch what people are cynical about, and one can often discover what they lack.” -- Gen. George S. Patton

  2. #2
    Atomic Punk edwardv's Avatar
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    12.16.17 @ 08:01 AM
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    Premium Member

    Default

    Social Security Trust Fund........ I paid 84k into it since 1973. So did my employers. I want it back!Biggest theft in the history of the planet. LMFAO
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  3. #3
    Good Enough pal1800's Avatar
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    Default

    With all the debt problems we are having, it reminded me that the paper money just represents a good or a service. Otherwise it's worthless, we trade it for goods or services and way too many people in this country provide neither goods nor services but they take in lots of $$$ from the government through politicians.

    Good luck fixing that.

  4. #4
    Eruption nicholas_kudochop's Avatar
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    Default

    Quote Originally Posted by pal1800 View Post
    With all the debt problems we are having, it reminded me that the paper money just represents a good or a service. Otherwise it's worthless, we trade it for goods or services and way too many people in this country provide neither goods nor services but they take in lots of $$$ from the government through politicians.

    Good luck fixing that.
    Sounds like Wall Street to me.

  5. #5
    Atomic Punk LLFHS's Avatar
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    07.30.17 @ 08:59 PM
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    I own America.


    Make out all rent checks to me.


    Good night.
    LowLifeFlatHeadScum

    [sigpic][/sigpic]


    Your Hacked Nude Photo Here!

  6. #6
    Eruption Yerfdog's Avatar
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    Default

    Quote Originally Posted by voivod View Post
    By Tom Mucha, Global Post

    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.

    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:

    •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.

    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.
    It IS a good thing we have math. Where's the other 24.5%? Perhaps that's the problem....
    I swear, it's like I'm playin' cards with my brother's kids or somethin'. You nerve-wrackin' sons-a-bitches.

 

 

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