WAIT-- How LITTLE DEBT does the U.S. government actually owe to China???
Posted by scapozzola on 03/23/2011
Ritholtz.com has posted a stunning pie chart by Political Calculations. Stunning because it reveals something that runs completely counter to conventional wisdom.
Their pie chart shows the differing percentages of U.S government debt (totaling more than $13.5 trillion) owed to various foreign countries, financial institutions, and business entities. The graph is pulled from U.S. Treasury Department data as of September 30, 2010.
What's the big surprise, you ask? U.S. debt to China accounts for a mere 9.5% of the total.
This very much debunks the myth that China has such tremendous leverage over the U.S. If anything, the American people do, judging by the 42.1% plurality stake owed to "U.S. Individuals and Institutions."
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Wall Street Owns The USA
In regards to the chart. more than 42% of this Country's debt is with individuals and institutions. This essentially means the majority of the debt is held my Wall Street, like JP Morgan or CitiGroup.