"America practices foreign trade rights, market exclusionism and Anti-trust laws in a fashion that would have made Gorbachev blush.
All in all .. it's kinda funny that China and Japan's respective central banks basically own 10% of all American debt (as Bond holders) .... and yet America turn to Japan and says "sorry ... levees on foreign made cars
Equal give and take ... foundation of all good relationships .. .China and Japan bought up US Bonds (and continue to do so despite ridiculous rate of return which won't make them earn a single cent for the next 60 years) ... least you can do is drop tariffs on Japanese car manufacturers, or stop supporting corrupt, faltering motor companies like GM, now can't you?
Given that public debt of the US is 16 trillion, and represents 106.9% of US GDP .... that would mean of the 44% of foreign central banks owning US debt (as lenders, given almost half of America's debt is owed to Foreign organizations) ... that would mean that Japan and China alone literally own more than 10% of your entire country's net worth ... and the rest of the 34% being owned by Australia, England, Germany .... basically the rest of the developed world ...
I KNOW Americans know this....because |I watch American news on occasion ... America knows of US bailouts .... and Americans didn't pillage and burn. In fact most Americans seemed quite blase about the whole thing ..."
I couldn't agree more. The whole Europe=Socialism and USA=Free Markets thing couldn't be more wrong. We've both gone back and forth over and over again. Our shared trial now is the massive debt crunch and failure of non-specie backed, non-100% reserve banking systems all over the world. We're all in this boat together, and we've been heading this direction ever since WW1 destroyed the classic gold standard, and nationalism and greed made it impossible to reaffirm it. Since then, most GDP growth is the result of increased government expansion and borrowing as well as inflated, inverted pyramid style credit expansion in the private sector.