Saturday, August 21, 2010

At least, foreign held public debt may be going down gradually

Here is something helpful in the New York Times Business Day from Floyd Norris, “Off the Charts: U.S. Debt Is Staying in the U.S.”, link (website url) here.

At least since the 2008 crisis and bailouts, the foreign debt problem and leverage that countries like China could have hasn’t gotten worse. Americans are buying the T-bills because they’re scared of everything else, and aren’t getting back to work.

46% of public debt is held overseas, down from 49% in early 2008. But foreigners still seem to be buying those $10 high rise condos in New York and elsewhere.

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