Monday, August 1, 2011
In the spirit of clarity which is always important just before a Mercury retrograde. I was turned on to something interesting last week that I thought I would share with you. (Thank you, Martha)
In case you have been under a rock in Siberia, a very big rock, the United States Congress and President Obama have been trying to raise the ceiling on the US debt for the last three weeks. But here is a question: How many of us know who owns our debt????
If you see the photo I have posted, it lists the usual suspects. And Yes, there you see the word "China" at the top of that list---HOWEVER, that is not such an accurate picture.
But here is the clarity report. That list does NOT come close to indicating the substantial owners of our debt. It is the US that owns the US debt. What? Huh? What are you saying?!!
•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.
Here is the CNN link to the whole article
We, the US own the most of our debt. Why don't more of us know that? In the spirit of Mercury in Virgo---I thought we would benefit by that piece of data.