US & EU in debt: to Whom?

[GregW]

Thanks C A-A -

Looks to me like the Euro Banks made some poor investments. I think they were just paying Greece, Ireland & Portugal to buy their excess industrial production just as China is doing with us. That is good for the domestic manufacturers but is not sustainable over the longer term. China will keep loaning us money until their domestic market becomes prosperous enough to absorb their domestic production.

For an interesting view on DEBT read "Debt: the first 5,000 years" by (I think) Mr. Geber (sp?). He points out that eventually all civilizations that become mired in too much debt simply cancel out and start over. I think we, and the rest of the world, are coming to that point.

[Neuling]

The funny thing is that certain investors want countries and everyone else to stay in debt because they hope to get back more then they lend thanks to interest payments. All their lamenting that they might lose money is ridiculous. It's like worms complaining about their host dying from worm infestation

[softblueyz]

$4.45 trillion in foreign debt. China, Japan, UK are the largest holders out of 26 countries.

Mapping U.S. Foreign Debt: How Much We Owe and to Whom | Development Seed

[Neuling]

Originally Posted by softblueyz

$4.45 trillion in foreign debt. China, Japan, UK are the largest holders out of 26 countries.

Mapping U.S. Foreign Debt: How Much We Owe and to Whom | Development Seed

Interesting, even Brazil owns you

By the way, one can drag the map to show the new world...

[softblueyz]

Originally Posted by Neuling

Interesting, even Brazil owns you

By the way, one can drag the map to show the new world...

Yup, seems I missed 5 other countries. Alot of countries own a piece of us.