 Link LoggerPremium,MVM
join:2001-03-29
Calgary, AB
kudos:3
 ·Shaw
| said by no_one :
My wife asked if the US is broke where do they get the money. Well print it or borrow from say China. To me just another way of delaying the problem and making it even worse.
Obligations to other countries. Sure the rich or very political are now citizens of the world. The US goes down just move to another country and cut their losses.
Then those that can not do that are stuck with the mess. Wait they deserve the mess. Those good enough are the winners. Just like most posting on this site. Then again there is always someone better. Look out. Yep its official, the US is broke, perhaps not really as to be broke your debts have to be more then your assets. As of July 2008 the largest single holder of US debt is Japan followed closely by China (if you total up all the China's then they are the largest holder of US debt, top 10 listed below):
Japan 593.4 Billion
China, Mainland 518.7 Billion
United Kingdom 2/ 290.8 Billion
Oil Exporters 3/ 173.9 Billion
Brazil 148.4 Billion
Carib Bnkng Ctrs 4/ 133.5 Billion
Luxembourg 75.8 Billion
Russia 74.1 Billion
Hong Kong 60.6 Billion
Switzerland 45.1 Billion
From the end of June to the end of July the debt went up by about 31 Billion dollars (see »www.ustreas.gov/tic/mfh.txt )
I've often wondered why anyone in Luxembourg works as the US debt owed there is equivalent to about $76 Billion / 500,000 people or about $152,000 for every man woman and child. There is a truth to the statement that the world is made up of only two kinds of people, those that spend and those that save. $700 Billion can't be good for the bottom line as its not just paper, there has to be assets to back that up somewhere.
Now talking about using assets to cover off debts, given the US owes Canada 26.6 billion (we tend to buy US made products which helps keep it down a bit), which state(s) would we be able to buy with that, I'd like a warm one as I'm tired of freezing my butt off every winter  . Alaska might be a nice fit of convenience but only if Sarah Paulin moves out, as a rule Canadians are not keen on political figures, no matter which party they represent or BS they spew as we already have a surplus in that area.
Now as a Canadian I like you guys and you have been good neighbors, but your credit funded life style has made me nervous for a long time as at some point in time the bottom line has to be settled up and typically the longer you wait the worse it is and frankly I'm a little worried about who all owns that bottom line.
Blake
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