MIGleader said:
all the ountries that amerca owed debt too wanted their monwy back now, the u.s would be in a very dfifficult position.
Here is a real stretch of the imagination, what if the US defaulted on its debt and not pay it back. A few countries have done that in the past. Argentina is the most recent example.
Here is another one. You know what the "risk-free rate" is? It is about 3 percent and its based on what the returns is of buying 3 month US treasure bills. Do you know why its called "risk-free"? It is because the US always pays it and its the safest investment you can buy.
Owing money as a country is not the same as owing money as a person.
Here are some other facts:
1.) US economy is worth 11 trillion dollars in 2005
2.) The second largest economy Japan (in absolute terms) is trillion, which means the US is 5 time larger than the next comparable economy.
3.) Fort Knox holds roughly 80 percent of the world's gold bullion.
4.) US is the largest recepiant of Foreign Direct Investment.
5.) 95 percent of the world's Billionaires are Americans
6.) 80 percent of the world's millionaires are Americans