Who owns our debt? Some numbers to put it into perspective

[DesiPower]

Nice article. As we all know our debts will never go down unless IMF steps in. We will always have a ever increasing budget deficit. Its foregone conclusion, politicians will keep selling this country little by little as long as there is something left to sell.

So here are the numbers. Enjoy them while you wait for the ship to sinks.. slowly...

1. Mainland China - Amount of U.S. debt: $891.6 billion - Share of total foreign debt: 20.4%

2. Japan - Amount of U.S. debt: $883.6 billion - Share of total foreign debt: 20.2%

3. United Kingdom - Amount of U.S. debt: $541.3 billion - Share of total foreign debt: 12.4%

4. Oil Exporters - Amount of U.S. debt: $218 billion - Share of total foreign debt: 5%

5. Brazil - Amount of U.S. debt: $180.8 billion - Share of total foreign debt: 4.1%

6. Caribbean Banking Centers - Amount of U.S. debt: $155.6 billion - Share of total foreign debt: 3.6%

7. Hong Kong - Amount of U.S. debt: $138.2 billion - Share of total foreign debt: 3.2%

8. Canada - Amount of U.S. debt: $134.6 billion - Share of total foreign debt: 3.1%

9. Taiwan - Amount of U.S. debt: $131.9 billion - Share of total foreign debt: 3.0%

10. Russia - Amount of U.S. debt: $106.2 billion Share of total foreign debt: 2.4%

Link to article

 

[soccerballtux]

meh, 75% still domestically owned.
As long as me and my generation don't have to pay for medicare+socialSecurity, I don't care.

 

[wuliheron]

OH NO! We're all gonna die!

Quick, lets go borrow some money so we can get drunk.

 

[sactoking]

Ha, the article is unintentionally funny. It's titled "Who owns the US?" and talks about 'what states/monuments other countries could theoretically lay claim to'.

Author doesn't realize that the holders of US debt are unsecured creditors last in line to claim assets. They have no equity, or "ownership", stake in anything.

Stupid author is stupid.

 

[ShawnD1]

Ha, the article is unintentionally funny. It's titled "Who owns the US?" and talks about 'what states/monuments other countries could theoretically lay claim to'.

Author doesn't realize that the holders of US debt are unsecured creditors last in line to claim assets. They have no equity, or "ownership", stake in anything.

Stupid author is stupid.

And borrowing money is not like getting a favor from the mafia. You dont need to give away land or specials laws if you just pay the debt. Usa can easily pay back the debt by slashing shit left and right then jacking up personal taxes. Its not like americans can just move away to avoid taxes.

 

[Craig234]

Ha, the article is unintentionally funny. It's titled "Who owns the US?" and talks about 'what states/monuments other countries could theoretically lay claim to'.

Author doesn't realize that the holders of US debt are unsecured creditors last in line to claim assets. They have no equity, or "ownership", stake in anything.

Stupid author is stupid.

Actually, ignorant sactoking is ignorant. While one type of debt fits your description, there is another type you appear completely ignorant of.

Tell me, for example, who owns the $2 billion-valued parking meters in Chicago's revenue for the next 75 years?

If the politicians in Chicago want to declare hometown hero Lincoln's birthday a holiday from parking meter payment, or change the hours or rates, can they?

In fact, cities and states are going wild looking to sell off public assets for short-term benefit (like THIS YEAR we're on fire!).

The buyers are often entities like anonymous foreign Soverign Wealth Funds front-ended by Wall Street firms.

I could post many more examples, but go read "Griftopia" by Matt Taibbi that lists many.

 

[Schadenfroh]

Better start up the printing presses boys, invest in cotton futures, we are going to need allot more cotton paper to print it.

 

[Dr. Zaus]

Better start up the printing presses boys, invest in cotton futures, we are going to need allot more cotton paper to print it.

Fun fact. Very little of the money that is 'printed' is ever actually printed

 

[Scotteq]

Fun fact. Very little of the money that is 'printed' is ever actually printed

Truth - They simply make a General Ledger entry at the US Treasury saying the money now exists. The government only print enough currency to cover people who want to carry it.

 

[sactoking]

Actually, ignorant sactoking is ignorant. While one type of debt fits your description, there is another type you appear completely ignorant of.

Tell me, for example, who owns the $2 billion-valued parking meters in Chicago's revenue for the next 75 years?

If the politicians in Chicago want to declare hometown hero Lincoln's birthday a holiday from parking meter payment, or change the hours or rates, can they?

In fact, cities and states are going wild looking to sell off public assets for short-term benefit (like THIS YEAR we're on fire!).

The buyers are often entities like anonymous foreign Soverign Wealth Funds front-ended by Wall Street firms.

I could post many more examples, but go read "Griftopia" by Matt Taibbi that lists many.

WTF does that have to do with anything? The article in question was posited on the presumption that if the US failed to pay back debt instruments, PURE debt instruments, like T-bills the holders of those note would be able to "lay claim" to various assets. The author made a sideways attempt to acknowledge that wouldn't happen, but then went ahead and wrote a POS article based in fantasy anyway.

What you're talking about has no relevance to his scenario. Yes, governments can "securitize" debts owed to them like in the parking meters. The projected future revenue can be sold to a private party for some lump-sum payment in the present. The meters themselves can even be "sold" to a private party and operated at their expense with a license fee paid to the municipality.

That doesn't change the fact that Treasury securities, which were the only sources of "debt" addressed in the article, don't work that way.

 

[Zebo]

Baby boomer mantra: Borrow like there's no tomorrow. Stick our kids with the tab. After all, what have our brats we raised ever done for us?

 

[ShawnD1]

Baby boomer mantra: Borrow like there's no tomorrow. Stick our kids with the tab. After all, what have our brats we raised ever done for us?

They do you the favor of not telling the police after you molest them

 

[Scotteq]

They do you the favor of not telling the police after you molest them

and sometimes not even that!!


ungrateful little brats!

 

[wuliheron]

Baby boomer mantra: Borrow like there's no tomorrow. Stick our kids with the tab. After all, what have our brats we raised ever done for us?

That's the real problem! America's success has led to a generation of stupid, lazy, spoiled brats. The rich are doing us a favor by taking our money and forcing us to go back to the family values that made this country great! Once everyone is broke then we'll understand just how much better off we are without money.