in today’s news….
It appears the American populace has been duped. Our government allows us to think that we actually owe China, Japan and other foreign nations more than our nation is worth. The truth is our government actually owes us.
The obvious thinking is, if the average American figured out that Congress is playing around with money that is actually owed to us, the people… the people would take a more active role in their governmental process.
Take this knowledge away from the people and put in a boogie man (the Chinese or Japanese) and you can thwart the sight of the people. Make them think that the fat cats that are sealing the nations’ money are actually working of the good of the people. Then stage a huge debt ceiling argument and postulate and gripe while threatening Granny that you can’t pay her what you OWE her while you allow the corporation to continue to profit on the backs of the people.
Don’t believe me? Well here’s the breakdown:
- Hong Kong: $121.9 billion (0.9 percent)
- Caribbean banking centers: $148.3 (1 percent)
- Taiwan: $153.4 billion (1.1 percent)
- Brazil: $211.4 billion (1.5 percent)
- Oil exporting countries: $229.8 billion (1.6 percent)
- Mutual funds: $300.5 billion (2 percent)
- Commercial banks: $301.8 billion (2.1 percent)
- State, local and federal retirement funds: $320.9 billion (2.2 percent)
- Money market mutual funds: $337.7 billion (2.4 percent)
- United Kingdom: $346.5 billion (2.4 percent)
- Private pension funds: $504.7 billion (3.5 percent)
- State and local governments: $506.1 billion (3.5 percent)
- Japan: $912.4 billion (6.4 percent)
- U.S. households: $959.4 billion (6.6 percent)
- China: $1.16 trillion (8 percent)
- The U.S. Treasury: $1.63 trillion (11.3 percent)
- Social Security trust fund: $2.67 trillion (19 percent)
So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion. Source
So now that you know MadMen…what will you do?