Who are we borrowing the money from?

[Slyhunter]

If I borrowed 100 grand and told my bank I needed more money because I spent the money on my deadbeat relatives gambling debts they would laugh at my face before loaning me any more money.
I made a thread suggesting we make China pay for damages their virus caused by wiping out our debt to them. Someone retorted that China only held 1 Trillion of our debt. Who all else is stupid enough to buy bonds or what not that makes up our debt knowing how we are going to go spend the money? Who is it who has plenty of money to loan to us?

 

[Obiwan]

Who else borrows money from a country, then sends part of it back as foreign aid (like we do for China) while still owing the debt on the loan???

That's like borrowing money from a bank, then giving them your money without being credited for the payment!!!

 

[harmonica]

Who else borrows money from a country, then sends part of it back as foreign aid (like we do for China) while still owing the debt on the loan???

That's like borrowing money from a bank, then giving them your money without being credited for the payment!!!

AND we take in many Chinese workers--triple fked

 

[wamose]

The sad part is, we're actually barrowing against the next generations prosperity, which will soon be an impossible dream if we keep spending money stupidly (1.9 trillion stimulus)

 

[Gdjjr]

In the scheme- of things- the US Petrodollar- it doesn't really matter- what matters is the hegemony- it is the reason for all our troubles- China recognized that what it loans us is ours anyway and re-invests some of it in US property (not just land) to acquire equity in/for their stake.

The interest we the stinky tourist pay is but a small percentage of the fruit(s) of our labor so we only bitch about it, a little, when it promotes *a* belief- BTW, it was Nixon (a Republican) who did that to we the stinky tourists and implemented wage and price controls to allow time for the change to take effect- we are so far down a rabbit hole monetarily we'll (none of us) will ever see anything different-