Oddly, although there are lots of editorials about this there aren't a great many website resources. US debt is almost like the invisible elephant in the room... everyone knows it is there but nobody wants to admit it. And don't forget state, local, and personal debt.
Each of the three themes of Oil, Debt, and Terrorism are intertwined. Imagine the consequences if China or Saudi Arabia decided to stop buying US rollover debt. Or if they decided instead to buy American companies (something that is already happening and is fair capitalism game).
| Great Books to read for more background about the coming debt crisis. | "Running on Empty," Peter G. Peterson. Peterson is a founding member of the Concord Coalition, a group devoted to facing and suggesting solutions for our national debt. |
The UAE has purchased a company that manages major US ports. What's next? |
"Taste of the Future," by David Ignatius of the Washington Post. Excerpt: "Greater foreign ownership of U.S. assets is an inevitable consequence of the reckless tax-cutting, deficit-ballooning fiscal policies that Congress and the White House have pursued. " Is selling the US Parks next? Sounds absurd. Ignatius refers to NY University Professor Nouriel Roubini who says on his site that "in a matter of a few years foreigners may end up owning most of the U.S. capital stocks: ports, factories, corporations, land, real estate and even our national parks." |
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