Skip to comments.Fedís Holdings of U.S. Gov't Debt Hit Record $1,696,691,000,000; Up 257% Under Obama
Posted on 02/10/2013 3:18:59 PM PST by TwelveOfTwenty
As of the end of November, according to the U.S. Treasury, entities in Mainland China owned about $1,170,100,000,000 in U.S. government debt, making China the largest foreign holder of U.S. government debt.
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What the politicians are doing to this country is criminal. The fact that most citizens let them do it, nay, even vote for them knowing they do it, is the worst example of “enabling” behavior possible. The politicians destroy our future prosperity and security and the masses reward them for it.
Only those who can afford them.
Poor Bush had to work hard to sell it to the Chinese.
The Chicago mob just told Bernanke to buy it.
So much easier.
At least Bush was paying it back, until January 2007 when the Democrat controlled Congress replaced the GOP controlled Congress. At that time, the deficit was at a 9-11 induced 165 billion and shrinking.
Baraq’s plan worked well (so far).
He was able to buy the 2012 election with entitlements, despite a terrible economy.
My only hope is that the system implodes before 2016.
Better us than the Chinese?
What the politicians are doing to this country is criminal. The fact that most citizens let them do it, nay, even vote for them knowing they do it, is the worst example of enabling behavior possible. The politicians destroy our future prosperity and security and the masses reward them for it.
what about the voters that vote for them?
Yeah, I included the voters in my earlier comment. The voters act like abuse victim who enables the abuser.
In some ways, it is worse to allow something to bad occur than to do actually do the bad something. The voters have a form of “Stockholm Syndrome” — it’s both infuriating and sad at the same time.
Therein exists the CORE ISSUE of our PROBLEM.
Most citizens have nary a CLUE as to what's occurring.
They're attention is being fully diverted by the "bread & circuses" given center stage attention by the media.
I think that nearly all voters, except for the most dense and selfish of people, realize that spending more money than one has and running up a credit card to its upper limits are inherently bad. They know that our Federal Government and many state governments are doing exactly that, but they shrug their shoulders and think “What can I do about that?” or they just don’t care as long as the gravy train continues. It will be a harsh awakening for these people when the reckoning takes place. It might even be worse for us, the people who saw it coming and tried to warn everyone else, because we the ants will suffer right along with them, the grasshoppers.
There is no escaping the Titanic when it sinks, only a question of how much space is left in the lifeboats. Tired metaphors and submerged similes aside, we will all be affected.
What a disgrace. America - land of the beggars.
We pretty much switched places, first with Japan, but now with China. We went from generating 50% of worlds GNP to around 20% today (if you can really believe that number).
China has supplanted us as the world’s leading industrial power and will, sooner than most people think, supplant us as the world’s number one military power. Yes, I know that there are a lot of propagandists out there who claim that America will retain it’s technological and military superiority, but like all declining civilizations, our governing elites have been corrupted and our people are enervated. I know the comparison is overused but I would equate our relative position with that of late 2nd or 3rd Century Rome. There are differences, of course. But, it sure feels like we are moving into a dynastic period with a servile press and dependent mob for citizens. The once proud memory of Republican government is slowly giving way to Hellenic softness and eastern ways of governance.
Rome was sacked when the Rhine froze over. The barbarians just walked over the frozen Rhine. The only light I can see economically is the new found flow of natural gas and shale oil. Maybe a hint of 3d printing...
Who knows, this could just be the darkness before the dawn. It sure doesn’t feel that way right now as we spend our way into Bolivian. i mean oblivion.
And those of us that DO understand what is going on have what recourse?
A ‘justice’ system whom will shoot down any lawsuit on the flimsiest of reasons (ala ‘standing’)? A House, Senate and President who routinely shred the Constitution; who, like Internal Affairs, all but wrist slaps any wrong doings that would put Citizens in Federal JAIL for (ever)years?! States, so beholden to the graft of receiving our own taxpayer ‘contributions’, that can’t put up a 9th/10th lawsuit; let alone threats of civil disobedience and/or succession.
The Republic has been broke since Lincoln, and really hit the skids in the ‘10-20’s last Century. The only thing truly, logically and unfortunately next is a REAL Civil War.
Yes, we have tremendous natural resources, a still vibrant military, and foundational documents that excel above any before them as our some of our greatest assets. Our fate is not sealed and continued decline is not inevitable, but the strength of a nation is its people and our people are forgetting what made us special. Hopefully, we can reignite the spark. I fear that we are in for some very rough times even if that does happen.
AMEN my friend, AMEN!
...entities in Mainland China owned about $1,170,100,000,000 in U.S. government debt, making China the largest foreign holder of U.S. government debt.China's a rat on a wheel -- to keep selling into the US market, it has to devalue its currency vs the USD, and rolling trade surplus into US gov't debt is a good way to do that. The US federal budget deficit will never be brought under control until there's some need for discipline -- and there won't be as long as China finances overspending.