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Our National Debt...here's something to think about...

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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Sat Mar-04-06 10:38 AM
Original message
Our National Debt...here's something to think about...
I got this from a local democratic organization. It has some embedded links in it that really bring this home. I have researched the links and have posted them at the web link below if anyone is interested in reading the whole story. This will really make you think!...

FOREIGN DEBT: " Foreign entities own a little more than 53 percent of the U.S. federal debt in publicly traded world markets," ABC News reported last month. In contrast, only "1 percent of all active corporations that filed taxes in 2002" are foreign-owned. While there is nothing inherently wrong with foreigners buying our debt (foreign central banks have kept interest rates low ), a " disorderly situation would occur if foreign money dried up suddenly when the United States still needed it. Then the adjustment in American savings might happen involuntarily. Interest rates would rise sharply, and the dollar could fall abruptly. This could induce a sharp economic contraction, even stagflation." If we continue to live at the mercy of the main financiers of our debt - whether it's Japan, China, the United Kingdom, or "Caribbean Banking Centers" -- we could find ourselves on " on increasingly thin ice ."



http://politicalswitchboard.invisionzone.com/index.php?...
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Saturday Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-04-06 10:52 AM
Response to Original message
1. Thanks, I will.....
save and read later when I have more time to concentrate on them. Very interesting subject.
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Sat Mar-04-06 10:55 AM
Response to Reply #1
2. The is the surprise George will leave for us, when he's gone!
kind of like a time bomb waiting to go off...
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IsItJustMe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-04-06 11:00 AM
Response to Original message
3. In order for our government to finance this debt, they sell U.S. savings
Edited on Sat Mar-04-06 11:01 AM by IsItJustMe
bonds to foreign countries like China. Many of these bonds have a life on them that come to maturity in 20 or 30 years. The thing about these bonds however, is that they can be CALLED at any time.

This simply means that the country calling the bond would not get the full maturity amount. The bottom line is that a country like China can use this as huge leverage for their policies in this country (black mail). This is very dangerous. We, America, can become China's whore.
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Sat Mar-04-06 11:25 AM
Response to Reply #3
4. Thanks to company's like WalMart I think we have...
Once this gets out it will make the dock deal look tame...
This secret Presidency has been raping us for sometime now but people have been ignorant of the fact...
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IsItJustMe Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-04-06 02:28 PM
Response to Reply #4
6. Walmart has technology in the works that will make Orwell seem like a joke
It's called RFID. The next great thing brought to America by wally world.
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Yupster Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-05-06 12:09 AM
Response to Reply #3
9. I don't think that's right
The entity that "calls" a bond is the entity that issued it.

So the US could call the bond and send Vhina its money early.

If China wanted its money early they'd have to sell it on the bond market to another investor for whatever the market would bear.

Ten or twenty year government bonds are not the same as the EE bonds that you buy in the bank and can redeem at any time for less than face value.
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Sat Mar-04-06 12:16 PM
Response to Original message
5. In fact this is so important a subject
that I've devoted a forum to just the National Debt...
some very important and interesting reading...

http://politicalswitchboard.invisionzone.com/index.php?...
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Toots Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-04-06 04:34 PM
Response to Original message
7. Our National Debt is increasing by over $100,000.00 a second
Edited on Sat Mar-04-06 04:36 PM by Toots
Is that mind boggling or what?

check it out, give it four seconds to load and scroll down just a bit.
http://www.toptips.com/debtclock.html
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Acebass Donating Member (926 posts) Send PM | Profile | Ignore Sat Mar-04-06 09:30 PM
Response to Reply #7
8. the figures boggle the mind...
the secret is in who's holding the debt...
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