Monday, February 28, 2011

What's The Deal With Foreign Debt???

Reading an article that outlined the US’s debt to foreign nations just reinforced something that I already knew. We are owned by other countries! This is what this debt looks like (thank you Yahoo):
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%

What does this mean to us the average Joe, you ask? Well, for starters, it explains why so many toxic Chinese products are allowed into the US market. Since they hold the largest of our debt, we are kind off forced to play nice and buy as much of their stuff as possible…and since China’s quality control is nonexistent…well, let’s just say that if they don’t care if they poison their own people, do you really think they care about you and I? Right!
Number four on the list just says it all, doesn’t it? Here you have it people. The reason why we wage wars (and you thought this was about freedom and terrorism, didn’t ya?), and why we simply cannot use alternative fuel sources. Most of the places on this list really didn’t surprise me, but Brazil??? Really??? Yes, they are the largest economy in South America, but they’re still a third world country. What defines a third world country you ask? It is defined by a lack of a middle class, which oh by the way we, the US, is working on eradicating. But I digress! And then there is Russia! The same country that used to point nuclear weapons in our direction! Maybe that explains the large influx of Russian immigrants to our country in recent years.
Now I’m no economist, but I would love to see the debt structure of these countries. I mean, shouldn’t they use their resources to help their own? Naw! That would just make too much sense and we have to “play” politics. We give you this money and you take our trades in return. We just borrow money from someone else for who know what reasons. And again, it just shows that everything is done under the veil of being for the good of the people, when in reality it is only about one thing: Money!