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Not such a big deal. Social Security owns more than all international holders combined as of the Sept 2010 accounting, at around 5,350 billion. Private holders (us retirees, pension plans, Scrooge McDuck, etc) hold more than all the foreign holders combined, at 8,211 billion.
Private holders (us retirees, pension plans, Scrooge McDuck, etc) hold more than all the foreign holders combined, at 8,211 billion.
Boy, I wish I found that reassuring or comforting. I got a feeling that 8T is just a number. But even if I accept all this...China, Japan, and the Fed are fast approaching 1/3 of total holdings. I'm gonna have to spend some time under the Bodhi Tree and see if I can figure what this means.
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Originally Posted by chinaco
Well at least America owns more of America than the Chinese Government.
OK. That sounds reassuring.
But wait! Someone still has to work to pay the interest on those obligations.
Which means I own my children's asses.
And since many of you do not have children, you also have a piece of my children asses!
PS. Nah! No need for my children to worry. I forgot that, just as Otar pointed out in his eBook, the future generations can easily solve the problem by printing more money. This is not a problem that a bit of inflation won't fix.
__________________ "Old age is the most unexpected of all things that can happen to a man" -- Leo Tolstoy
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