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October 20 2002 at 8:22 PM
Jester  (no login)
from IP address

Response to Hmm, I must have missed a turn,


I would appreciate it if you (and Sirian) would cease with the "But we're all the creditors!". I accounted for that. The debt owed to "us" isn't in the debt figure I used. So, insofar as THAT debt is concerned, the debt owed not to the treasury, not the citizenry, but to foreign investors and international lines of credit, we are NOT creditors.

If I was throwing around 5.5 trillion as the number, then that would be true. But I'm deliberately removing all mutual funds, savings bonds, debt to the treasury, etc. Those are a different form of debt. They are not as burdensome. Money owed by ourselves to ourselves is not going to chain our children, which I believe was the original point. It is not pressing, nor will it be, unless it increases by a good order of magnitude, or concentrates into remarkably few hands.

That's where the 2 trillion figure came from. The stockmarket is out of it. So are US savings bonds. So are pension funds. So is just about everything under the sun not explicitly owed outside of the country.

Is that not reasonable? Did I miss someone? Are there secret bonds the government issues that cause florida pensioners and pennsylvania investors to show up as "foreign creditors"? Or do they own shares in the IMF I'm just not aware of?


 Respond to this message   

  1. Ah, so we just should rip "them" off? - Pete on Oct 20, 2002, 9:10 PM
    1. Tiring, this - Jester on Oct 20, 2002, 11:04 PM
      1. OK, here's your answers - Pete on Oct 21, 2002, 7:14 AM
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