Monday, November 02, 2009

Who Owns America?

Let's put it this way, it isn't Americans.

The United States government has about $3.5-trillion in IOUs issued by the Treasury in the form of bonds and notes.

Of this China, of course, holds just under $800-billion. Japan is a close second at $731-billion. The Brits are a distant third at a measly $225-billion. Canada? Well, we're way down the list. At $22.4 billion, we rank just behind Norway but still comfortably ahead of Egypt.

Now 3.5-trillion dollars in markers is a lot. Fortunately the American economy still runs at just over 12-trillion annually. Still, when that nation's overall debt obligations are factored in, it's a struggle to carry it. America does seem to be burning this candle at both ends.

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