LOOK AT THE HEADLINES

The Dow Jones is down over a THOUSAND points.
Iran is on the brink of war.

bidumb has been in office three and one half years.
When bidumb took office the economy was recovering nicely from COVID and the world was at peace. The Abraham accords were signed.

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whowasthatmaskedman · 70-79, M

And you still think America runs the world..Take a look at whats going on in the world and work out why the Dow Jones is down and the fragile economy is cracking...😷

swirlie · F

@whowasthatmaskedman
Last week, the USA's national debit hit $35 trillion. It now takes 45.8% of every tax dollar collected by the IRS just to pay the interest owing on their national debt.

Of particular interest as well, is that Japan holds 100% of America's national debt.

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MarthannBann888 · 70-79, F

@swirlie

I have read that China holds a good bit of our debt.

swirlie · F

@MarthannBann888
What I wrote was incomplete, but I never bothered to edit my post. What was written in error was that Japan now holds 100% of China's stake of America's National debt. This is a recent development because the USA no longer wanted to be indebted to China of all countries, so Japan apparently picked up China's investment in the debt.

MarthannBann888 · 70-79, F

@swirlie

Didn’t know that!

whowasthatmaskedman · 70-79, M

@swirlie While China has been offloading a quantity of its US Treasury Bonds recently. This doesnt represent a large part of the US debt held by China, most of which it between commercial US entities and Chinese supplies, often through international or national banks at either end. This debt is actually more of a risk to the American economy, as it means that large US corporations could be denied supply of components at any time if the Chinese companies are instructed by the government not to extend credit..😷