The United States' situation.?
Okay, so the last time I checked, the US was in debt about three trillion dollars($3,000,000,000,000) and about %60 of that debt was to china. I understand how the world bank works, and i'm not stupid, but it doesn't seem like their government is able to recover from this massive debt. Let's say that in about ten years(assuming the world doesn't end next year), there is some sort of worldwide crisis and China called in it's debt. Now, since the US is a member of the UN, they can't declare war, and China wouldn't declare war, as it would be a world war, but in the name of justice, would China then be given %60 of the US' land and resources, or would the debt be expunged? (Keeping in mind that there's no way that the US could afford to pay the debt)
Just throwing it out there 'RayHere', I am not saying "US OWES CHINA" I am simply saying that I have heard this from a friend of mine who happens to be a political analyst. Notice that I am being polite, and I don't want to start screw you US screw you Canada kinda deal, so please refrain from your petty assumptions and insults. Yes I am a Canadian, but it is not 'wishful thinking,' I am concerned, as Canada's well-being is dependent on the US' well-being. We haven't got the military strength to defend against all of the US' many enemies coming after us as well. You can't pay off debt with borrowed money. That's just appeasing someone and pissing someone else off. And did you say %8 of the US' debt was one trillion? That would mean that you're in the hole 12.5 trillion(12,500,000,000,000). Please someone tell me, how can you maintain a large consumerist society, and pay off 12.5 trillion dollars. And RayHere, how do you profit from selling yourself something you already own? I can tell
- Anonymous10 years agoFavorite Answer
China holds about 8 % of our debt [One Trillion]China can not ''call in'' the paper they can sell it off which they are doing a little this paper has a maturity of years down the road while the one trillion seem unbelievable we could sell back our oil reserve back to ourselves and just about pay them off
Reread your post I see your a canuck who engages in wishful thinking there canuck boy yes we can pay this off and yes we will remain THE world power and you Canuck boy have no idea what in the crap your talking about many here in the states have really have had a gut from of the crap coming from you guys best too keep you canuck month closed when you visit the states