Look Who Owns The USA…
- Categories: International, News
- Date: Jul 27, 2011 12:27 JST
- Tags: China, Money, Politics, Rankings, Statistics, Taxes, USA
Japanese left pondering the enduring hostility of some Americans to their nation could be forgiven for wondering why it is they have leant them almost a trillion dollars to help fund their record 14 trillion dollar public debt – and what the even more unpopular Chinese think about their massive loan to the states is anyone’s guess.
Who, aside from Americans themselves (who finance about 40% of their government’s debt), lends the US government the cash (figures in billions):
China: $1,152.5
Japan: $906.9
United Kingdom: $333.0
Oil exporters: $221.5
Brazil: $206.9
Taiwan: $154.5
Caribbean banks: $138.1
Russia: $125.4
Hong Kong: $122.4
Switzerland: $112.4
Canada: $87.7
Luxembourg: $78.4
Germany: $61.3
Thailand: $60.7
Singapore: $60.3
Other: $657.2
More details for those interested.
Of course, all this also means the likes of China and Japan can hardly afford to be smug about the USA’s economic woes, let alone upset them – not if they ever want to see their trillion dollar loans repaid, at any rate…
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So, when do I get paid?
Here's an IOU
Ha ! As if you can trust anything a USian says ! USA have a large history of backing out of their promises and contracts, so basically they are just pathological liars and cheaters. Like the one time USia fucked France and refused to pay their debts. Should have been nuked that time, or at least French debt collectors should have broken arms and legs of that dumbass USian president.
Now put your biased view aside, and look at all the times the US has kept their promises and contracts.
Oh man, who'd of thought?
wtf is an usian? is it really that hard to type out american?
or all the food the us gives out for free, the aid we give out and general help.
sure, people abuse their power some times in foreign countries, but this is a rareish occurrence.
so i guess, the help france, uk, china got in WW2 doesn't count. + all the billions that goes out in aid
"Now put your biased view aside, and look at all the times the US has kept their promises and contracts."
Did I miss something? O_o
It's not just about food and other aid. The US has a very high credit rating because, historically, even though the US borrows money like crazy, there has never been an issue of whether or not the US would be able to make payments on that debt owed.
Countries may not like our foreign policy, but they lend to the US not only because it serves a strategic interest to them, but because they know that they will be paid back over time.
@ Ciscotaku
Help? US financed both sides. If by your twisted logic it is HELP then yes it is.
so wait... the aid given wasn't just charity? It was just a way to make other countries indebted to the US?
@Ciscotaku
Aside from the obvious military might which America reluctantly contributed to save its own butt from the Axis powers, the "help" for the UK in WWII was mainly in the form of loans that we only just finished paying back a few years ago. Talk about pound of flesh...
now that's a successful troll
at least if you apply the newfag definition of trolling:
act retarded - get replies
if you don't apply that definition though you just made yourself look like a complete idiot
What do you mean "just a way to make other countries indebted to the US"? Why should historically very wealthy countries like the UK and France be given gifts to clean up the mess they made of Europe? Damn right they have to pay it back...eventually. It's not like the US drained them dry or anything.
He *does* have a point from a certain point of view.
For example, look at how quickly we backed out of the Missile Defense treaty with the Eastern European nations - we left out allies completely hanging after breaking our written word because we wanted to please a country we had no such agreements with (Russia).
Remember South Vietnam? We left them to die at the hands of the North Vietnamese butchers - millions perished in the resulting pogrom while we did nothing.
Those are just two examples off the top of my head - the point is that we have a history of this kind of thing as much as we'd like to tell ourselves otherwise. It's an ugly history that goes back a ways. I want to say we make good on most of our promises, but the ones that stand out are pretty ugly, there's no question. It's up to us citizens such as ourselves to make a stand and put an end to such broken promises, however.
I don't like it any less than you folks do, but the poster *does* have a point.
Historically, the US has defaulted three time in historically, but yes they have been able to make all their payments once they got off the gold standard. Now we can pay by printing money out of thin air. If the US cannot borrow money, having the reserve currency, they could just print the rest. The problem with this is the blow back of devaluing the currency. In 1964, you could get your gas at 10 cents a gallon with full service. Today, you can get gas at $4 a gallon and you have to pump it yourself.
What makes the pre-1965 dime special is that it is backed by it's silver content. It's worth about $5 now and can still buy you a tank of gas as it did in 1964. Today's money is backed by the credibility of the US and we are losing it. But alas the checks will continue to come in - just they won't buy as much as they used to.
The US helped Europe in two world wars and that counts for a lot, but it is true they could've been more generous about it and not made Britain give them the keys to the Atlantic and pay back loans forever while giving so much to Germany and Japan.
Firetribe, printing money is essentially a tax which hits the poorest people hardes. (Everyone loses the same fraction, so rich people lose more, but it turns out that when you take into account what the money actually does for you, standards of living of poor people are actually more affected. Rich people will turn moderately affluent, but poor people start to have trouble paying their bills.)
For those interested in past defaults:
http://mises.org/daily/5463/A-Short-History-of-US-Credit-Defaults
And here's another article about the current situation:
http://blogs.forbes.com/kenrapoza/2011/06/13/what-a-us-default-downgrade-might-look-like
Do the math and figure out how much your cut would be, then come over to the US and ask the first American citizen you meet to pay up. I'm sure one of us will gladly oblige.
...or reach for our gun. One or the other.
America owes each and every Japanese person 7086 USD. Feel like paying up? (907 billion / 128 million)
...and our own government owes each of us much more. Get in line.
That's nothing - every Japanese person has borrowed $93,000 by way of their government (their national debt stands at over $7 trillion).
As their population is now ageing, shrinking and retiring, and the only way of paying their pensions is by borrowing even more and taxing the few young people who remain, their problems make those of the US look positively benign.
Artefact, pretty much all of that Japanese debt is in the form of yen dominated government bonds held by Japanese investors.
The Japanese export industry is also very strong and remains far above import levels ($765.2 billion versus $636.8 billion in 2010), thus the debt is not in any way as serious as what the US is facing.
It is, however, true that as long as the Diet doesn't introduce some proper VAT levels and look into fiscal austerity measure... It will remain very hard for them to raise the near-zero interest rate on borrowing, and thus leave very few mechanisms to kick the economy out of deflation / near-deflation.
wait if im not mistaken
only 10 percent of our gdp comes from taxes
i doubt we are paying our debt with only taxes
If 907 billion is owed to the Japanese government, it doesn't mean that Japanese people are owed anything at all by the USA. It's just the government.
Also, the amount of profit these countries will make when the money is paid back in full could even be more than twice the amount they lended.
I admit my mind shuts off as soon as I realize what the Tsunami and the power plant and all the repairs will do to affect that. Unfortunately, that shredding paper of an economy we have will continue to shred, but until we step to the side of it and acknowledge that it's just a sheet, we'll never let it be what it is, and it will continue to be what we make of it.
Artefact, Japanese government owes money almost solely to Japanese creditors. Japanese government can tax those very same creditors to get rid of debt, if it feel it necessary, politically acceptable or if possible new government has it in their political program.
There is a difference being in debt to creditors in own country, or to foreign creditors.
Only reason why Obama's is so high is because Bush was hiding some of the debt he caused, and Obama forced the Govt. to add that to our debt so it'd be out in the open.
Something along those lines and I'm too lazy to look it up, if ya dont believe me just google it.
After 3 years of things only getting worse, you can't really put it all on the previous President. Not that he isn't a factor, but to say "Only reason why Obama's is so high", is a no-no.
Bush: "Look at the mess I caused this country."
Obama: "I see your mess and raise you a catastrophe."
Next President: "Oh yeah? Watch this."
Wouldn't it be nice if people could stop arguing over which dictator is worse?
Most of that money(and the heat that generate the rest) came from the Bush administration). Bush in his hysteria dropped billions on weapons and such while it wasnt really that necessary while leaving the rest of the US people and economy to rot...Obama just got to burn because both parties dont want to resolve the problems, but to point fingers at each other.
yep because once a new president comes in its a clean slate
everything pauses until what the new president wants is passed
which is not what happened
Uhm, fiscal inbalance is an effect, not the cause.
Your budget looks the way it looks, because it's burdened by high intrest payment on already accumulated debt. It's like blaming garbage man for yesterday's binge he is cleaning up.
You should look at debt levels to see who's really responsible for the sorry state your country is in.
The war in Iraq cost over 3 trillion dollars.
Then add stupidity like forming DHS,TSA, and expanding the idiotic war on drugs.
The above is simply an exponential curve, which is driving itself already. It started with Bush, but Obama continues the trend exactly.
It's funny. According to the above curve, the "I don't know where I should place my penis" Clinton was actually competent.
That's because he had a Republican House and Senate.
I know this is YATT (Yet Another Top Thread) in disguise... so fess up.
Of all the things that came up there, though, what the hell are Caribbean banks doing on that list, let alone be in the top ten? There must be a lot of banks to have given over $100 billion in loans to the US.
As a final note, Japan should just come forth and own us all. China would make for an interesting explosive impression though.
Own everyone? Japan's Public Debt is 228% of GDP as of 2011. Most likely a bit off, but I do not care enough to get accurate numbers.
You should care enough to know that Japan has no real debts outside of Japan. They loan from their own people.
Yes. To Japanese creditors, which can be taxed. Not to foreigners.
Lol... Japan and what army?
Those of you who voted tea party:
Fuck you
To those of you who voted in Obama:
Shame on you.
I thought it was an affirmative action, not an election.
>I thought it was an affirmative action, not an election.
Oh god, I'm going to be laughing over that one all day. Well done, sir.
go back to sleeping with your own family members you idiot republican. I like it how you all seem to forget how Bush messed most of this up himself.
>go back to sleeping with your own family members you idiot republican. I like it how you all seem to forget how Bush messed most of this up himself.
No, Bush merely started to fuck it up. Re-review that figure, in 3 years Obama has added nearly 6trillion to the deficit. More that Bush did, in the course of 8 fucking years!
You're a fucking idiot. Before you insult people, you bandwagon jumping shit-for-brains, you should learn how graphs work and not follow what the cool, hip kids do. Now kill yourself. People like you should not be allowed to breed, as all they do is foreclose on their first house & collect from every government program imaginable.
Lol Don't play the party blame game. It's both parties fault because no matter who you vote in the status quo continues. Bush made things bad, Obama continues the same things Bush did only worse - the wars continues, government grows and we borrow money.
Each president did put us into more debt, but Obama would rather spend more after raising the debt ceiling and not get us out of debt. At least that's what it seems like.
http://www.nytimes.com/interactive/2011/07/22/us/politics/20110722-comparing-deficit-reduction-plans.html?ref=nationaldebtus
Reminds me of what happened in the 20's. Coolidge, I think it was. The market crashed on his watch and Hoover got the blame. If I remember hearing it correctly, Coolidge surrounded himself with the richest men in the nation so if there was a recession, it couldn't touch them.
Yea lets not forget the shitstorm that was Iraq, useless pointless war that not only costed $$$ but lives.
What about taking a look at reality, for once?
Bush`s warmongering was/is (Obama did not start it, but has still to take care of what remains)not cheap, even without stupendous corruption attached.
for those of you who voted regardless that you knew that you were going to get screwed over no matter who you voted for, shame on you and stop bitching
AMEN BROTHER~~~~~~~~~~~~