Question: global economics (Page 2/2) 2.5 FEB 28, 03:26 PM quote Originally posted by sourmash: Or perhaps the response was too cryptic for some to understand? You will own nothing and be happy, means that's how it would look. Thats how socialist and communist ideas work for sure. Bad ideas. 82-T/A [At Work] MAR 01, 12:47 PM quote Originally posted by williegoat: If everybody settled up, in other words, if the US government payed off all of her debt and all the other countries paid off what they owe us and others, where would we be? Are we owed more than we owe? What about Russia, Germany, China, Japan, Canada, UK, Grand Fenwick? I speak for all Americans when I say, please pay off my $300k student loan debt! (sorry, saw this somewhere) 2.5 MAR 01, 02:12 PM quote Originally posted by williegoat: If everybody settled up, ..., where would we be? Seems like in many ways..the same spot, with less numbers to talk about. olejoedad MAR 01, 02:26 PM quote Originally posted by williegoat: If everybody settled up, in other words, if the US government payed off all of her debt and all the other countries paid off what they owe us and others, where would we be? Are we owed more than we owe? What about Russia, Germany, China, Japan, Canada, UK, Grand Fenwick? I did a little bit of research on this, as it's an interesting question. It's hard to find info that is unbiased, of course, but I have come to the conclusion that we owe a lot more than is owed to us. It is comforting to some extent to find out that most of our debt is owed to ourselves, due to trusts set up for Social Security and Medicare. Foreign owned debt is relatively low, the line 'We borrow money from China to lend it to someone else' doesn't appear to hold water. williegoat MAR 01, 03:00 PM quote Originally posted by olejoedad: I did a little bit of research on this, as it's an interesting question. It's hard to find info that is unbiased, of course, but I have come to the conclusion that we owe a lot more than is owed to us. It is comforting to some extent to find out that most of our debt is owed to ourselves, due to trusts set up for Social Security and Medicare. Foreign owned debt is relatively low, the line 'We borrow money from China to lend it to someone else' doesn't appear to hold water. Thank you, that is more or less what I was looking for.