At what point in time will China foreclose on the United States?
China holds enough of our debt that the US does not have enough money to pay off what we owe them. Just as many home owners have had to declare bankruptcy our country would be in the same position; that is, the money the government 'earns' (our tax dollar) would not be enough to me its citizens day-to-day expenses much less pay off China. Our dollar would be worthless on the world market. Every country that we owe money to would want their money also. We won't have anything worth anything to import needed goods for us. The countrys' credit would be nil, no country would loan us money just as our banks at the present time aren't lending more to home buyers and small businesses. Serious replys would be appreciated.