Thursday , 29 June 2017


Fact #7: U.S. Owes $Trillions to Other Countries – and to Its Citizens!

 

Fact #7: As of summer 2012, the federal government’s outstanding debt surpassed $15 trillion. Who are the nation’s creditors?

The government owes the most money to — itself. The Federal Reserve and various US agencies own 41 percent of the federal debt, more than $2 of every $5. Nearly one-third of the national debt is owed to other countries. China is the biggest foreign creditor ($1.144 trillion), followed by Japan ($1.076 trillion), but together they own less than 15 percent of it. Mexico and Canada together are owed $90 billion.

This series is brought to you courtesy of Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!). This paragraph must be included in any article re-posting to avoid copyright infringement.

This is the 7th in a series* of 100 facts about big issues facing Americanvoters which are being presented by www.FaceTheFactsUSA.org every day until the election to help Americans debunk myths, hold better conversations, get involved, and make choices as smarter citizens.

Fact#7* Released: Aug. 5, 2012 Debts & Deficits

 
 
 
 
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Related Article:

1. Amazing Stats: % of U.S. Debt Held By Foreigners Keeps Growing – Here’s Who

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Over the years foreigners have been buying more and more U.S. debt and now amounts to 33% of the total which is up from “just” 27% at this time 4 years ago and less than 15% only 20 years ago. However, given the dire state of U.S. finances it makes one wonder how much longer this trend will continue and what the consequences will be when the U.S. nolonger has a ready buyers to subsidize their excessive ways. Let’s take a look at which countries and entities hold the U.S. debt and the extent to which it has changed over the years. Words: 480

2. The Zombification of the Financial System: Debt is NOT a Free Lunch, Debt is NOT Wealth!

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Why are both debtors and creditors willing to build a status quo of massive unprecedented debt? [After all, the delusions of] creditors that debt is wealth and should never be liquidated, and of debtors that debt is an easy or free lunch have been smashed by the juggernaut of history many times before…[and] I think they will soon be smashed again. [Let me explain.] Words: 1150

3. U.S Likely to Hit the Financial Wall by 2017! Here’s Why

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The deficits aren’t going to stop anytime soon. The debt mountain will keep growing…Obviously, the debt can’t keep growing faster than the economy forever, but the people in charge do seem determined to find out just how far they can push things….The only way for the politicians to buy time will be through price inflation, to reduce the real burden of the debt, and whether they admit it or not, inflation is what they will be praying for….[and] the Federal Reserve will hear their prayer. When will the economy reach the wall toward which it is headed? Not soon, I believe, but in the meantime there will be plenty of excitement. [Let me explain what I expect to unfold.] Words: 1833

4. True Money Supply Is Already Hyperinflationary! What’s Next?

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Economists are telling central banks to accelerate monetary growth even faster…to avoid a bank balance sheet implosion with all the deflationary consequences that implies. [As such,] the prospects for 2012, and thereafter, are for Total Money Supply to continue its hyperbolic trend – and when such a trend becomes established it becomes almost impossible to stop because the whole debt-based economy and the banking system would collapse. [Let me explain further.] Words: 550

5. Alf Field’s 7 “D’s” of the Developing Disaster Revisited

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When the supply of something is increased sharply relative to demand, the value of that commodity will decline. If the supply continues to increase rapidly and indefinitely, then that item will become worth less and less, with the potential to finally become nearly worthless. This is the Developing Disaster facing the US Dollar and the world. This is the factor that could become the single most important criterion in investment allocation decisions and possibly even for individual financial survival…[Let me explain this further by reviewing the 7 major problems facing the U.S. (and thus the world) and how they all will lead to problem #7 – devolution.] Words: 1520

6. Where Is This Unprecedented Global Financial Crisis Headed? A Retrospective from Alf Field

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Everyone must be wondering where this “unprecedented global financial crisis”, (the World Bank’s words), is heading. What follows, for what they are worth, are my cogitations on this crisis. Words: 1641
 
 
One of the problems with the debate over the “national debt” is that there’s no generally agreed upon definition of that term. Is it what the federal government owes, or what it owes foreigners, or what the whole country, private and public sector together, owes? Does it include off-balance-sheet items and contingent liabilities? There’s a hundred-trillion dollar gap between lowest and highest on this spectrum, which allows each commentator to confuse the rest of us by picking the measure that best suits their point of view. [Let’s try to decipher the true state of the nation.] Words: 1468
 

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“An essential point in the social philosophy of interventionism is the existence of an inexhaustible fund which can be squeezed forever. The whole system of interventionism collapses when this fountain is drained off: The Santa Claus principle liquidates itself.” [This article discusses the reality of the current economic crisis and] what is required to revive the economy. Words: 1666

9. Ayurveda: The Cure for the Virus that Plagues Our Financial System

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Today’s western financial world operates much like government-sponsored medical systems. Mask the problem and give the bankers the pharmaceutical drugs (bail out money) to help them dull the pain and keep them on life support. Letting the free markets work in curing the ailment is not an option because then there would be little need for doctors (governments) or the manufacturers of these drugs (central banks). The banks are sick and should be allowed to pass on…so the virus known as debt does not affect the rest of the population. Unfortunately, the governments and central bankers have only one prescription drug of choice to keep them alive [and that seems to be the supposed cure-all of] printing money… [Let me explain further.] Words: 970

10. Major Price Inflation Is Coming – It’s Just a Matter of Time! Here’s Why

 
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The developed economies of the world have opened the money spigots…[and this] massive money and credit creation is sitting in the banking system like dry tinder just waiting for a spark to set it ablaze. How quickly it happens is anyone’s guess, but once it does we are likely to be enveloped in a worldwide inflation unlike anything before ever witnessed. [Let me explain further.] Words: 625

11. Williams: U.S. Can Not Avoid Coming Financial Armageddon

The U.S. economy is in an intensifying inflationary recession that eventually will evolve into a hyperinflationary great depression… [at which time] a $100 bill in the United States will become worth more as functional toilet paper/tissue than as currency. The U.S. government and Federal Reserve already have committed the system to this course through the easy politics of a bottomless pocketbook, the servicing of big-moneyed special interests, and gross mismanagement. The article is long but well worth the read. Words: 3565

12. Will This Be The USA in 2012?

The economic condition of the country continues to decline toward its rendezvous with an, as yet, unknowable catastrophe. Here is… a look (not a prediction) at a series of not improbable events that could develop [and which] would change our economic world overnight. Words: 1550

Previous Facts:

1. Fact #1: Revenue Does Not Cover Core US Programs

2. Fact #2: The U.S. Has the Highest Corporate Tax Rate in the World

3. Fact #3: Overspending on Education in U.S. Doesn’t Buy Genius

4. Fact #4 from FaceTheFactsUSA.org: Twice the Time Now Spent in Traffic Congestion vs. 2010

5. Fact #5: 44% of Jobless Are Unemployed Longer Than 6 Months!

6. Fact #6: America – A Super Rich Country With Supersized Hunger Pangs and Supersized Waste