Not too concerned about being liked or not liked....you make some good points...and I'm not nuts about the USA cars either, although I do try to support american companies...My opinions are definitely biased by my own beliefs...I don't mind the guy making $29.00 per hour, why would he not if he could. Ford makes some cars that are as cheap as any import and just as good....why do the imports cost more if there labor is cheaper....should not the worker get in on the money as well as the shareholders...we are fooled many times into things that make us argue with each other about who is right and who is wrong....after all if we can be made to look the other way...things get by us that normally wouldn't. I have a low opinion of corporations that only look at their profit and not at their workers. I'm old fashioned like that, and probaly behind the times some would say. I also respect all the opinions and am very glad I live in a country where I can express them. This is my last post on this, because I know I could go on forever. Peace to all, and thanks for allowing me to ramble.
Made in China ?
- Thread starter R_W_B
- Start date
R_W_B
Senior Member
The imports have to pay tariffs which was by design to give the US companies equal playing field, which is (in it's initial theory) the correct way in my opinion to do it. And if Ford can produce as good a car at the same price then I will buy it also and have no problem with the worker making millions to screw on tail lites as long as I have an option to buy within my own wage power. And as long as I don't have to pay billions in tax dollars to bail them out when they fail. (Admittedly Ford is not one of those)
I thank you for posting because in this complex world it is awareness that will save us (or lack of it will sink us). As to what we can do about it, well what we can, then we will hopefully. It's a multi faceted issue that is not only about just one issue or segement but many including the national debt, linked world economies etc.
I consider myself to be one of the more lucky ones since my wife and I being very conservative our whole life have packed away much of our earnings in retirement accounts that earned interest for many years (much like our own Social Security would have done if they would have left it in it's own fund). For others in my area and now also over at the Space Center the lay offs are more of a " in their face " sort of thing and the pain more immediate. But I suspect even they are doing better than the folks I saw living in Viet Nam 41 yrs ago. And I don't just mean about the war either. I mean about their living conditions and their own local economy.
Again enjoyed exchanging and learning from all of you. RWB
R_W_B
Senior Member
Wow, 43 posts and 948 views in 9 days, who would have though buying some cheap gloves at a local cycle shop that were made in Pakistan would have generated so much interest.
Guess it was the title ? Folks always interested in a name that owns most all of our national debt loan.
Guess it was the title ? Folks always interested in a name that owns most all of our national debt loan.
R_W_B
Senior Member
Not true, China holds about 7% of our debt. The American People own most of our debt.
Wow now that would be some very good news to hear. Where exactly are you getting that? I would be interested to see how the math is being calculated.
A recent check on my old links show that just the interest on the debt loan just for 2011 will be $385,871,949,498.62 (billion)
So that's a lot of interest on just 7% of of the total debt. The current Outstanding National Debt as of Thu, 28 Jul 2011 7am CDT was:
$13,310,014,554,065.78 (13 trillion +)
7% of that would be about 931 billion i.e. (13,310,014,554,065.78 x .07 = 931,701,018,784.61)
which would mean we are paying about 41% interest on the loan ?
Interest payments on the national debt could total $5.5 trillion over the next decade, or about 79% of the new debt estimated to accrue between 2012 and 2021.
What exactly does it mean "American People hold most of the debt ?" Is that government bonds ? Maybe I need to sell my MetLife bonds and buy some US bonds.
Just found this info on Wiki.
As of January 2011, foreigners owned $4.45 trillion of U.S. debt, or approximately 47% of the debt held by the public of $9.49 trillion and 32% of the total debt of $14.1 trillion
As of May 2011 the largest single 'foreign' holder of U.S. government debt was China, with 26 percent of all foreign-held U.S. Treasury securities.
China's holdings of government debt, as a percentage of all foreign-held government debt, have decreased a bit over the last year, but are up significantly since 2000 (when China held just 6 percent of all foreign-held U.S. Treasury securities).
The largest foreign holders are the central banks of China, Japan, the United Kingdom and Brazil. The share held by foreign governments has grown over time, rising from 25% of the public debt in 2007
Thanks RubyRed for making me check into another facet of this that I was in some error on. Although the current news is still not good, it was enlightening.
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And you were enlightening too! Wow! Thanks for that info. Um, would you do my income taxes? I'm kidding! I'm kidding!!
R_W_B
Senior Member
Well it appears (after RubyRed enlightened me) that the nation has a BUNCH of Government Bond and Treasurey Bill holders (I've found many of these are not individuals but Mutual funds etc, but regardless) so currently a bit more than half of our debt is owned by US bought parts of it. The rest is Foreign owned with China holding the largest percentage of that group and growing.
But at the present rate of advancement on the loan, I think I will just keep my MetLife Bonds. Course if it all goes default it probably ain't gonna matter who owns the bonds LOL
But at the present rate of advancement on the loan, I think I will just keep my MetLife Bonds. Course if it all goes default it probably ain't gonna matter who owns the bonds LOL
But at the present rate of advancement on the loan, I think I will just keep my MetLife Bonds. Course if it all goes default it probably ain't gonna matter who owns the bonds LOL[/QUOTE]
You are right there! The Fedearl Reserve holds most of America's debt!
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The Biggest Holders of US Government Debt - CNBC
Take a look at this and who is #1.
You are right there!
The Fedearl Reserve holds most of America's debt!=================================================
The Biggest Holders of US Government Debt - CNBC
Take a look at this and who is #1.
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