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Exactly. Though the CNN chart looks super cereal[1], China only owns about 8% of the US debt as of 2011[2]. Of course, that's not to say we don't have an addict
by miles 13y ago
Exactly. Though the CNN chart looks super cereal[1], China only owns about 8% of the US debt as of 2011[2]. Of course, that's not to say we don't have an addiction to cheap credit in this country[3].
EDIT: The parent post was edited to add the China info, making this one largely moot. Leaving here for the links (sorry about the first one ;-)
[1] http://www.youtube.com/watch?v=h05YfP_8UsU http://www.youtube.com/watch?v=h05YfP_8UsU
[2] http://en.wikipedia.org/wiki/National_debt_of_the_United_States#Foreign_holdings http://en.wikipedia.org/wiki/National_debt_of_the_United_Sta...
[3] http://www.usdebtclock.org/ http://www.usdebtclock.org/
- Fuxy 13y agoAnd while everybody is arguing about China nobody notices the small little island called Japan owning almost as much as China while allegedly having a very unhealthy economy.
- deleted 13y ago[deleted]
- XorNot 13y ago"Addiction" seriously? If you can get cheap credit and do something useful GDP-wise with it, you take it. You should always take it - there's never a reason not to.
- claudius 13y agoIf and and. Funding wars abroad is generally never intelligent from a GDP PoV (funding wars at home at least gets you to rebuild/modernise stuff later on).