Slimming for the Beach » cash http://blog.philipcasey.com The News and Blog section of Philip Casey's website Wed, 28 Jul 2010 09:02:48 +0000 en hourly 1 http://wordpress.org/?v=3.0 Ireland owns part of US Debt – more than Germany http://blog.philipcasey.com/ireland-owns-part-of-us-debt-more-than-germany/ http://blog.philipcasey.com/ireland-owns-part-of-us-debt-more-than-germany/#comments Fri, 21 Mar 2008 21:52:25 +0000 Philip Casey http://blog.philipcasey.com/ireland-owns-part-of-us-debt-more-than-germany/ Who would have thought it? Ireland owns part of the US debt, according to a scary article in The Daily Telegraph.

As of June 2007, foreigners owned $6,007bn of long-term US debt. (Equal to 66pc of the entire US federal debt). The biggest holdings by country are, in billions: Japan (901), China (870), UK (475), Luxembourg (424), Cayman Islands (422), Belgium (369), Ireland (176), Germany (155), Switzerland (140), Bermuda (133), Netherlands (123), Korea (118), Russia (109), Taiwan (107), Canada (106), Brazil (103). Who is jumping ship?

Who is jumping ship, indeed! Guys?

We are the seventh biggest owners of the debt, in fact, owning $176 billion dollars of it. That’s enough to keep the occupation of Iraq going for – how long?

Now how did that come about? It’s not the naughty Irish banks using our savings, I hope. Because with the dollar going down the toilet, it would mean the value of our savings doing the same, right? (I’m no economist, so I’m open to correction).

Anyway, read The Telegraph and be very scared.

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