can anyone here explain to me how america got indebted to china and if there any other countries that we owe? ive been catching alot of diff stories here and there concerning our debt to china and the lowering value of the american dollar compared to other currencies. if someone here is in the know id like to know how american got in such bad debt when it seems like more times than not this country is leaned on for financial support when things go bad in foreign areas. is our support of other countries a huge factor in this debt or are there other lesser publicized reasons?
america's debt to china
- Thread starter lokizz
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It's not just to China -- we have more debt than any other nation in the world.
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html
To put this $10 trillion of debt into perspective -- as it is a mind boggling number -- every single share of stock of every publicly traded American company combined is worth $17 trillion.
I don't know enough about global economies to know the cause, but we spend $275 million on the war every single day. This is after cutting taxes. Surely that can't be helping.
Also, what I consider one of the most pressing issues of our time...
http://www.whitehouse.gov/infocus/social-security/youth/
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2079rank.html
To put this $10 trillion of debt into perspective -- as it is a mind boggling number -- every single share of stock of every publicly traded American company combined is worth $17 trillion.
I don't know enough about global economies to know the cause, but we spend $275 million on the war every single day. This is after cutting taxes. Surely that can't be helping.
Also, what I consider one of the most pressing issues of our time...
http://www.whitehouse.gov/infocus/social-security/youth/
Ikohn4ever
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japan i believe has the most of any country and india has some too
As they say though, if you owe the bank $10,000, the banks owns you but if you owe the bank $100,000,000, you own the bank.
Anyway, nations all have debt with each other so if you added up all the nations that owe the U.S. money, it's not as bad as it looks.
Anyway, nations all have debt with each other so if you added up all the nations that owe the U.S. money, it's not as bad as it looks.
russellgreco
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But that’s one small ripple in a giant ocean of debt. I really like the saying that pertains to owing vs owning the bank. All things considered, debt, while scary, is nothing in my opinion when compared to trade deficits and gdp vs debt. We only have to worry about the former, mostly, but it scares me that people pay no attention or even try to comprehend what these things mean to our economy.
russellgreco
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Just realized I didn't answer Op topic, sorry. China is sucking capital and buying up our currency, through bonds. It's doing this in part because we have a lot invested in China and they in turn have a lot invested in us. The trade deficit also isn't doing any favors for our debt which is connected with balance of trade.
The Debt Clock page is is gravely mistaken in its assessment of the debt.
They claim, "40%, is owed to the Federal Reserve Bank and to other government accounts; that is, this part of the Debt is owed by one part of the government to another."
The Federal Reserve is not a government entity. It is a private banking cartel that has been granted a monopoly by the government to loan money to the government and other banks at interest. The government doesn't owe money to itself.
Let that sink in for a few minutes then google the federal reserve act of 1913 and get ready for the ride of your life when you find out about who really controls our money.
They claim, "40%, is owed to the Federal Reserve Bank and to other government accounts; that is, this part of the Debt is owed by one part of the government to another."
The Federal Reserve is not a government entity. It is a private banking cartel that has been granted a monopoly by the government to loan money to the government and other banks at interest. The government doesn't owe money to itself.
Let that sink in for a few minutes then google the federal reserve act of 1913 and get ready for the ride of your life when you find out about who really controls our money.
To my knowledge, the only time we've had no national debt was in the 1830's under Jackson. A balanced budget is meaningless when you consider that an outside entity is in control of the money supply and the government can confiscate or borrow any amount of money they choose in order to "balance".
bread's done