For some reason, this graphic made me more sad than knowing the actual numbers.....
I saw this graphic on this website where it is titled "Begger Man Sam"....and it is a depiction of Uncle Sam looking for a hand-out.
As silly as that sounds, it is sort of where we are today with our trade imbalance and with so many foreign countries owning our bonds / debt.
If we stop buying their goods....or stop exporting our own jobs, they will be asking for their IOUs back....and where will we be at thatp oint. (as a country) We will be out there with our tin cups asking for investors to buy our debt.
Oh what a tangled web we have woven. I pray we can turn this around before we become #2 economy....for at that point I fear it will be too late.
Labels: 03-08-2008, begger Man Sam, Debtor, US Debt
posted by Bigqueue at 7:54 PM
1 Comments:
Its not just factory jobs being exported its skilled white collar jobs being exported. With a vengence may I add. Who says you cannot be replaced just because you have an MBA and a high skilled job.
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