Is America now technically insolvent Bankrupt-E-Answer.Net

Yes

As noted, basically China, Japan and the oil producing countries are propping up the USA. American citizens are going to have to face the results of years of over spending and no strategic planning. This is especially true in energy, and falls into all other sectors. The USA as country, consumes more energy than China or India, yet has roughly one fourth the population of either.

The Chinese government, if it decided to, could wipe out the USA economy, just by putting up for sale all the USA government bonds that it currently holds. Such an action would have repercussions around the world, and would be as devastating if not more so than Nuclear War.

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4 Comments



Nigel M Votes: +0	Technically? How about actually? There is virtually no hope of ever balancing the federal budget unless congress is eliminated. The only thing keeping the country afloat is that China and Japan and the oil producing countries are affraid to stop buying government bonds because if they did their best customer would collapse. report abuse vote down vote up


muncie birder Votes: +0	Well America is a big continent compromised of many countries. I doubt it is bankrupt. It is like asking is Europe bankrupt? Or Asia? Or Africa? Seriously... report abuse vote down vote up


CHEPIBE7... Votes: +0	the dollar is gone...new global currency will solve a lot of our problems. the usa is still the breadbasket of the world. bankrupt NO! report abuse vote down vote up


donmusta... Votes: +0	I hope not and this all scares me report abuse vote down vote up

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Is America now technically insolvent Bankrupt

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