Japan gets downgrade.

[ZenOps]

http://www.nytimes.com/2011/01/28/bu...n.html?_r=1&hp

Meh... I have to think that if the ratings people are going to downgrade everyone, why don't they just lower the bar to where it should be?

I mean really. All nations of the earth in the year 2011 don't have a snowballs chance in Egypt of being able to afford to put a man on the moon anymore (or at least not without going into extreme debt to do it)

Grading on the curve has always been ok in my book. If we are all flunking as nations compared to where we were 50 years ago, then lower the standards.

Of course, if they were *fake* standards 50 years ago to start with - that just doubles my resolve to lower the bar. You know back in the 60's a lot of people did LSD...

http://www.youtube.com/watch?v=V5d4wWGK4Ig

[kaput]

.

[syeve]

Most debt is held within that country. Very little is foreign held.

[911fever]

many people think China owns most of the US's debt. Its only like $1 trillion and they are buying less of it every year

[Xtrema]

It's just banks fucking with the world.

Lower grade = higher interest = more $ for bankers.

[1barA4]

<Jesse Ventura voice> FOLLOW THE MONEY!

The US Federal Reserve and all the other institutions around the world are just fucking with us and if you're outside the elite circle, you're gambling (with the markets) and you're on borrowed time....

[syeve]

Originally posted by 911fever
many people think China owns most of the US's debt. Its only like $2billion and they are buying less of it every year

It is small but it's more like 900 billion (depending on how you calculate it)

Totall US Debt is topping 14.1 trillion (also depending on how you calculate it ie. treasury bonds) so it is still a relatively small amount lol. (14,000,000,000,000).

[911fever]

Originally posted by syeve


It is small but it's more like 900 billion (depending on how you calculate it)

Totall US Debt is topping 14.1 trillion (also depending on how you calculate it ie. treasury bonds) so it is still a relatively small amount lol. (14,000,000,000,000).

i meant to say 2 trillion not 2 billion and interesting article on how much it might actually owe
http://www.google.ca/url?sa=t&source...qX8Sul9UitUxuw

[ZenOps]

As mentioned, China owns a small but sizeable chunk of US debt.

The main thing with China is that they don't really owe any money to anyone else. They are in the black with most if not all trading nations.

[broken_legs]

Up until 2010 China was the single largest creditor of the USA.

That title is now held by the Federal Reserve AKA the Treasury AKA the Taxpayers


http://www.wealthdaily.com/articles/...onal-debt/2493

http://www.treasury.gov/resource-cen...uments/mfh.txt