Daily Archives: February 5, 2011

Who owns the most of U.S. Debt?

The Chinese? After all, that’s what all the politicians, especially the Conservatives, are telling us. The fear that we will be taken over by the Chinese… or that the Chinese will no longer buy our bonds… or that the Dollar will no longer be the trading currency of the Chinese… such a fear is being used to keep Americans in line and ready to vote for a batch of idiots.

But it’s not true. We owe the Chinese 9.8% of our debt, according to the Christian Science Monitor. Japan has 9.6 %, England 5.1%… and other countries have much smaller chunks. In reality, foreigners own  a mere 24.7 percent of our debt.

We owe OURSELVES, however, 53% of our debt… by far the largest number. How is this broken down? As follows:

US individuals hold 12 percent of the country’s debt. Next under the domestic category comes the Federal Reserve, which holds 9 percent of US debt, then pension and retirement funds, mutual funds, and state and local governments.

So when the Congress starts filling us with the China fear, maybe we should send them OUR bill… cash in our bonds and mutual funds… get our city government to send in their invoices.

NBC’s temper tantrum over leaked video exposes the network’s thin skin

Seems that NBC has fired an employee for posting a viral “Today” show video… 16 years ago!

This from Salon:

clipped from www.salon.com
Katie Couric and Bryant Gumbel were just two of many people who didn’t understand the World Wide Web back in 1994. We know because of a video circulating across that once ill-defined Internet, showing the two — then hosts of the “Today” show — struggling with the complexities of the technology. Gumbel pondered its function (“What, do you write to it like mail?”). Couric turned to an expert, a producer offscreen (“Can you explain what Internet is?”). Neither of them had any idea what the hell that weird letter-A thing was (“@”).
The clip caught fire yesterday. Then suddenly the original poster took it down from YouTube (though others would later repost it). Turns out the guy who originally posted the video was an NBC employee. The network promptly fired him.
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