02-19-2012, 07:48 AM
(02-19-2012, 06:48 AM)Duchess Wrote:
Misconception No. 1: Most of what Americans spend their money on is made in China.
Fact: Just 2.7% of personal consumption expenditures go to Chinese-made goods and services. 88.5% of U.S. consumer spending is on American-made goods and services.
Misconception No. 2: We owe most of our debt to China.
Fact: China owns 7.6% of U.S. government debt outstanding.
Misconception No. 3: We get most of our oil from the Middle East.
Fact: Just 9.8% of oil consumed in the U.S. comes from the Middle East
Story
If 88.5% of U.S. consumer spending is on American-made goods why is there a trade deficit every year?
The Fed owns most of our debt. Do you know who they are? Why do they print our currency?
Actually 18.2% comes from the Midle East.