British Economy Near Bankruptcy?

[BryceC]

Think about this. What if China stops buying the crappy worthless paper debt other countries are producing? Who is going to buy it? How much are you going to have to raise the rates in order to get buyers? Money is going to be the big bubble then, and we cannot just print more like we do now because it will cause hyper inflation.

I'm actually a little concerned about hyperinflation. I might start buying up some canned green beans. It can't hurt.

[keepngoal]

China.

They own all of the worlds debt? That can't be.

seriously, there must be a resource for who owns what percent of all the worlds debt. And what that total amount is.

-keep.

[cycloneworld]

They own all of the worlds debt? That can't be.

seriously, there must be a resource for who owns what percent of all the worlds debt. And what that total amount is.

-keep.

Some US debt is fine because Americans own some of it(I'm not sure the %) through bonds, T-bills, etc.

But China does own a lot of US and worldwide debt.

[StLouisClone]

Looks like China and Japan currently hold around 13% of our national debt.


http://www.optimist123.com/optimist/...-billion-.html

[BryceC]

They own all of the worlds debt? That can't be.

seriously, there must be a resource for who owns what percent of all the worlds debt. And what that total amount is.

-keep.

I don't know the world debt, but here is some info on our debt:

http://www.fms.treas.gov/bulletin/b2008-4ofs.doc

http://www.treasury.gov/tic/shl2007r.pdf (Page 14)

Largest holder is actually Japan, followed by China, followed by the UK. So seeing that the UK which is on the verge of economic collapse owns a lot of us is also a little disconcerting.

[TxCycloneFan]

Really makes you think China is positioning themselves to be an economic/political superpower once they decide to start collecting.

And they will make Tony Soprano look like a choir boy.

[jdoggivjc]

I don't know the world debt, but here is some info on our debt:

http://www.fms.treas.gov/bulletin/b2008-4ofs.doc

http://www.treasury.gov/tic/shl2007r.pdf (Page 14)

Largest holder is actually Japan, followed by China, followed by the UK. So seeing that the UK which is on the verge of economic collapse owns a lot of us is also a little disconcerting.

I'm also curious how much UK debt we own.

[JonDMiller]

Think about this. What if China stops buying the crappy worthless paper debt other countries are producing? Who is going to buy it? How much are you going to have to raise the rates in order to get buyers? Money is going to be the big bubble then, and we cannot just print more like we do now because it will cause hyper inflation.

What is China actually buying it with?

Who really has what?

Think about that for a while.

[BryceC]

What is China actually buying it with?

Who really has what?

Think about that for a while.

I'd be interested to know this, but at the same time I really don't care. I know at a minimum 1/5 of my taxes are going to pay Japan, China, and other countries. That is a significant amount of wealth that could really benefit people here in America.

[cycloneworld]

I'd be interested to know this, but at the same time I really don't care. I know at a minimum 1/5 of my taxes are going to pay Japan, China, and other countries. That is a significant amount of wealth that could really benefit people here in America.

Hence the reason many of us were beating the fiscal responsibility drum before the election.

[Wesley]

Looks like China and Japan currently hold around 13% of our national debt.


http://www.optimist123.com/optimist/...-billion-.html

You could say China and Japan own the whole Midwest if you could have property swaps.

[Wesley]

What is China actually buying it with?

Who really has what?

Think about that for a while.

Actually China is spending lots of money building aircraft carriers, submarines and an overall world class navy. Maybe they can help us out with the Somali pirates.

The pirates versus James Bond would make a good movie.

[PGreen ISU '92]

What is China actually buying it with?

Who really has what?

Think about that for a while.

The United States federal government is in debt by more than $10 Trillion! It takes 20% of our tax dollars to pay interest on this monster to foreign countries and foreign banks. 8 years ago we were in debt by $5 Trillion and it took 5% of our tax dollars to feed this beast. The Peoples Republic of China due to a large trade surplus with the United States and many other countries over many years has accumulated wealth and has been in a position to purchase 10% of our federal debt. China is a communist state, therefore, the money we would normally owe a foreign bank i.e. German and Swiss banks goes directly to the Chinese government. We cannot just simply keep printing money. If we do the dollar will continue to de-value and foreign countries such as China will refuse to extend us any more credit. The government will not be able to borrow anymore money to operate and our government will implode.

[StLouisClone]

The government will not be able to borrow anymore money to operate and our government will implode.

At some point before our government implodes, let's hope they get smart and realize that the government needs to downsize itself from time to time just like every corporation does. When is the last time our federal government laid hundreds or even thousands of people off? Has it ever happened?

[Wesley]

I heard today the magic word for the government to get out of their hole is inflation so that all these borrowed dollars are not worth much when we pay them back. They are on the roiad to hyper inflation if they are not careful. We just promisded to back $2 trillion more in the last two days. Ciutibank gave us $300 billion in toxic mortgages if they go bad and that may double. The car companies/unions want a measly $25 billion. The homebuilders want $250 billion. They want stimulus? Let's get the govt to loan us the money for free interest to bowl in the south end of JTS. That would be stimulus for Ames area.