Sunday, December 13, 2009

Who Finances American Debt And Will They Continue?

Americans, immersed in debt and worried about their jobs or lack thereof, are wary of continuing their excessive consumption habits, not a bad thing, nevertheless, considering how much our economy depends on consumer spending, it's not a good thing either. On the other hand, China, the major holder of our debt, and known for saving, are spending more than Americans on everything from cars to computers.

However, although not quite to the level of China spending, government reports show stronger-than-expected November retail sales, an unexpected rise in business inventories in October and the dollar advanced to a two-month high against the euro as a bigger-than-forecast increase in retail sales, all pointing to a recovery in consumer spending.

Despite our unusually high debt levels, our number one ranking and power in the world instills the confidence needed to keep investors lending to us at generous rates.

The heartland website displays a map (below) that displays the current financial dependence relationships of the United States:
click to enlarge:

The major foreign holders of treasury securities are, in order, China Mainland, Japan, United Kingdom, oil exporting countries 3 (Ecuador, Venezuela, Indonesia, Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, Algeria, Gabon, Libya, and Nigeria) , oil exporting countries 4 (Caribbean Banking Centers include Bahamas, Bermuda, Cayman Islands, Netherlands Antilles and Panama) Brazil , Hong Kong, Russia, ...etc.


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