Replying to Avatar Nunya Bidness

To people who ask, “who do we owe all this US debt to?”

Answer: to anyone holding a U.S. Treasury bond. That’s who.
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Chris Liss 4mo ago

Yes, but most people don’t realize the extent to which those bonds undergird the entire economy.

Someone might think he has 5M in assets (bonds) gets his income, pays his bills, enters into contracts. If that money is not real, then he defaults, the guy building his house doesn’t get paid, the company leasing the car to the guy building his house doesn’t get paid, etc. Then multiply that by millions.

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Nunya Bidness 4mo ago

I quite agree.

I was simply pointing out "who we owe our debt to" because I have seen an avalanche of those questions over the last week. The question always pops up but, Lordy! - "This time it's different".

I suppose it should be pointed out that most of the countries that owe debt essentially owes it in the same way but . . .