China Does Not Own Most of America’s Debt!
http://www.alienadam.com/2012/07/05/china-americas-debt/
By: Adam Moore AlienAdam Reporter 7-5-2012
We’ve all heard it before about how China owns most of America’s 14.8 trillion dollar Debt. Although China does own a substantial amount of our debt it isn’t even close to all or even most. Here at alienadam we like to give you the hard math on things. China does not own most of America’s debt. The fact is that America owns most of America’s debt. Here’s a breakdown 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)
Now you may be wondering how big of a deal is national debt? Is America in trouble? How does large debt like this affect our economy? Well the good news is that China does not own enough of our debt to become a major player in the downfall of our economy. Our economy is in the hands of the people in Washington, which if you ask me, is just as bad as our economy being in the hands of China. We have all these so called self proclaimed “Smart Analysts” who are telling us our National debt to GDP ratio is completely unsubstantial and reversible while other big countries with the same problems in Europe are watching their economies crumble. Here’s a break down of countries with similar debt to GDP ratios. Do some research on how their economies are doing and you may just find out what the future has in store for us:
-
Japan - They had terrible debt since the burst of their real estate bubble. The
tsunami just made it worse. - Saint Kitts and Nevis
- Lebanon
- Zimbabwe
- Greece – They are in the mist of their crisis.
- Iceland – Thye have already had a huge crisis.
- Jamaica
- Italy
- Singapore
- Belgium
- Ireland – They already had a huge debt crisis.
- Sudan
- Sri Lanka
- France
- Portugal
National debt is a big problem but an even bigger problem is the continued growth rate of the national debt. It’s important that we as american people are getting the correct people in office to reverse this issue. I’m not all doom and gloom. I do believe this problem can be fixed but if we don’t start putting politician in office who understand how the economy works we could be headed for financial disaster.
http://www.alienadam.com/2012/07/05/china-americas-debt/
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