Monday, September 22, 2008

Buying the Nation

While the US is in the grips of a financial crisis and the government is busy with a poorly-thought-out bail-out plan, one has to wonder where the money is coming from. Of course, most of the money is coming from the taxpayers who are defaulting on their mortgages. The rest of the country, it seems, it owned by part of Asia.

According to China Daily, China is the second largest holder of US government bonds with a total of $518.7 billion, just a few billion behind Japan. Maybe the government should consider coaxing more of the American public into purchasing some of the debt it's creating to balance out what it owes foreign countries.

I'm just waiting to see who will buy the Brooklyn Bridge. Maybe I'll print up some deeds and try to sell it around Shenzhen.

1 comment:

CountLubinstein said...

There's one flaw in your plan... US citizens don't have any money to buy our own government's debt!