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<blockquote data-quote="klein" data-source="post: 841335" data-attributes="member: 23950">Or see the US as their debtor !&nbsp;As of November 2007, Japan ($580 billion), China ($390 billon) and the United Kingdom ($320 bilion) are the <a href="http://www.treas.gov/tic/mfh.txt" target="_blank">biggest foreign holders of our Debt</a>. (click to see all countries).&nbsp;As of March 2011:China: 1.14 TrillionJapan :908 BillionUK : 325 BillionBrazil : 194 BillionTaiwan : 156 BillionRussia : 128 BillionHong Kong : 122 BillionSwitzerland : 112 BillionCanada : 93 BillionLuxemborg : 81 BillionGermany : 60 Billion... and the list goes on....&nbsp;Why do you think that the United States has sent at least two high-level envoys to China over the past year? It&#039;s because they are desperate for China to continue buying US debt, especially given the fact that the US will need to borrow nearly $10 trillion dollars MORE over the next decade to fund its deficit spending. &nbsp;Economists predict that Social Security will no longer be a source of funding by around 2015, as the government will have to start paying out more than it takes in, barring any legislative changes. &nbsp;This is one of the reasons why countries such as China and Japan will play such an important role over the next decade or so. If they decide that US debt is not a very smart investment, then the printing presses in the United States will need to hit overdrive. &nbsp;This is never a good thing, but it seems almost unavoidable at this point. </blockquote>

[QUOTE="klein, post: 841335, member: 23950"] Or see the US as their debtor ! As of November 2007, Japan ($580 billion), China ($390 billon) and the United Kingdom ($320 bilion) are the [URL="http://www.treas.gov/tic/mfh.txt"]biggest foreign holders of our Debt[/URL]. (click to see all countries). As of March 2011: China: 1.14 Trillion Japan :908 Billion UK : 325 Billion Brazil : 194 Billion Taiwan : 156 Billion Russia : 128 Billion Hong Kong : 122 Billion Switzerland : 112 Billion Canada : 93 Billion Luxemborg : 81 Billion Germany : 60 Billion ... and the list goes on.... [SIZE=2]Why do you think that the United States has sent at least two high-level envoys to China over the past year? It's because they are desperate for China to continue buying US debt, especially given the fact that the US will need to borrow nearly $10 trillion dollars MORE over the next decade to fund its deficit spending. [/SIZE] [SIZE=2]Economists predict that Social Security will no longer be a source of funding by around 2015, as the government will have to start paying out more than it takes in, barring any legislative changes. [/SIZE] [SIZE=2]This is one of the reasons why countries such as China and Japan will play such an important role over the next decade or so. If they decide that US debt is not a very smart investment, then the printing presses in the United States will need to hit overdrive. [/SIZE] [SIZE=2]This is never a good thing, but it seems almost unavoidable at this point. [/SIZE] [/QUOTE]

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