If i owed millions to my debtors, does that mean they have the upper hand over me, since basically my whole existence depends on paying them back.
2007-02-15 11:06:28 · 12 answers · asked by Anonymous in Politics & Government ➔ Other - Politics & Government
USA is not necessarily inferior to China and Saudi Arabia being a debtor. It is just a matter of economy that the money is there and the US needs it. Thus, the US is still the superpower while Saudi Arabia is still dependent on the US for defense and security.
2007-02-15 11:27:36 · answer #1 · answered by FRAGINAL, JTM 7 · 0⤊ 0⤋
You're right. They do have an upper hand over the USA.
It's a little frustrating.
I think it would've been better if the American people had more invested in the national debt. If we all chipped in together voluntarily... not forcibly... and the government did a better job managing our money, we'd be an even stronger nation.
But then again, would've been better if the national debt wasn't so huge!
2007-02-15 19:38:53 · answer #2 · answered by shiroi 3 · 0⤊ 0⤋
It means they have a strong partnership and with that amount of money owed, many favors will be exchanged.
Its not like they can call guido, or Leeboy the collector to break the presidents legs
2007-02-15 19:09:57 · answer #3 · answered by writersbIock2006 5 · 0⤊ 0⤋
Yes and no. They don't own us, but they can sure exert plenty of influence. What they don't have is physical collateral, like the grip a bank has on your house as a result of your mortgage. For instance, SONY now owns Rockefeller Center, but they can't exactly put it on a boat and ship it to Japan. But it is a money-maker for them, and they have a lot of influence over programming at NBC, which is located there.
2007-02-15 19:16:01 · answer #4 · answered by bullwinkle 5 · 1⤊ 0⤋
The answer is yes and no yes since they can take material possession for life but no be cause your whole existence isn't based on paying them back hence the us.
2007-02-15 19:10:22 · answer #5 · answered by sali_mwana 1 · 0⤊ 0⤋
but in contrast the US earn trillions of $$$....
but they do need to pay back
i think if china or saudi decides not to trade with the US anymore, the US economy will not be operating properly.
2007-02-15 19:15:16 · answer #6 · answered by ☆LiAn☆ 3 · 1⤊ 0⤋
Yes, basically this whole country has been sold out by this administration to foreign nations. And they are coming to collect.
2007-02-15 19:13:54 · answer #7 · answered by Big Bear 7 · 0⤊ 0⤋
Yes. It means that if we did something to tick off China and they called their notes, our economy would fail.
2007-02-15 19:14:37 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Nice legs, somehow I don't think they're yours. Anyway, we owe them special favors if that is the case.
2007-02-15 19:25:12 · answer #9 · answered by FILO 6 · 0⤊ 0⤋
No, it simply means that other countries trust us to make good on promises.
2007-02-15 19:12:13 · answer #10 · answered by americanmalearlington 4 · 0⤊ 0⤋