Month: January 2012

Who owns America? Hint: It’s not China

Here’s a quick and fascinating breakdown by total amount held and percentage of total U.S. debt, according to Business Insider:

  • Hong Kong: $121.9 billion (0.9 percent)
  • Caribbean banking centers: $148.3 (1 percent)
  • Taiwan: $153.4 billion (1.1 percent)
  • Brazil: $211.4 billion (1.5 percent)
  • Oil exporting countries: $229.8 billion (1.6 percent)
  • Mutual funds: $300.5 billion (2 percent)
  • Commercial banks: $301.8 billion (2.1 percent)
  • State, local and federal retirement funds: $320.9 billion (2.2 percent)
  • Money market mutual funds: $337.7 billion (2.4 percent)
  • United Kingdom: $346.5 billion (2.4 percent)
  • Private pension funds: $504.7 billion (3.5 percent)
  • State and local governments: $506.1 billion (3.5 percent)
  • Japan: $912.4 billion (6.4 percent)
  • U.S. households: $959.4 billion (6.6 percent)
  • China: $1.16 trillion (8 percent)
  • The U.S. Treasury: $1.63 trillion (11.3 percent)
  • Social Security trust fund: $2.67 trillion (19 percent)

So America owes foreigners about $4.5 trillion in debt. But America owes America $9.8 trillion

via Who owns America? Hint: It’s not China – Global Public Square – CNN.com Blogs.

William Jefferson Gingrich

How long have I been saying it? At least for 15 years, but in private I have been aware of it longer. Newt Gingrich is conservatism’s Bill Clinton, but without the charm. He has acquired wit but he has all the charm of barbed wire.

Newt and Bill are 1960s generation narcissists, and they share the same problems: waywardness and deviancy. Newt, like Bill, has a proclivity for girl hopping. It is not as egregious as Bill’s, but then Newt is not as drop-dead beautiful. His public record is already besmeared with tawdry divorces, and there are private encounters with the fair sex that doubtless will come out. Thanks to my big brother for this piece.

via William Jefferson Gingrich – The New York Sun.

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Amazing Timelapse of 30-Story Building Constructed In Only 360 Hours

impressive timelapse video from his company’s latest project: a 30-story tall, 183,000-square-foot hotel built in just 360 hours. Just 15 days!.

It was erected near the Dongting lake, in the Hunan Province, China, by Broad Group, a Chinese construction company specialized in sustainable architecture. The building uses prefabricated modules (with a +/- 0.2mm precision in the fabrication process) mounted on a steel structure, with diagonal steel bracing.

via Amazing Timelapse of 30-Story Building Constructed In Only 360 Hours.

China Cost Advantages Erode as U.S., Mexico Gain

China, which is experiencing negative pressure as an exporter because of wage inflation, exchange-rate pressures and higher freight rates, could lose its cost advantage vis-à-vis U.S. production in four years if freight rates rise at 5 percent annually, according to the 2011 U.S. Manufacturing-Outsourcing Cost Index.

Since 2007, Mexico, some locations in Europe and locations in Asia other than China have gained a competitive advantage for offshore manufacturing. In addition to Mexico, emerging LCCs, including India, Vietnam, Russia and Romania, had lower landed cost for their exports to the U.S.

via China Cost Advantages Erode as U.S., Mexico Gain, Report Says | Journal of Commerce.

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