Once in a while, you show a little life and I get to beat it right back outta you... You just ain't up to what you used to be.
Nope. External debt measures claims by foreigners on all U.S. debt securities (treasuries, agencies, corporates, municipals, private credit, asset backed securities, syndicated loans, and MBS). It is not specific to public debt. External debt is a measure of combined annual capital accounts - that the U.S. runs a current account deficit (and thus a capital account surplus) is entirely unsurprising due to low savings rates from a century of growth and stability obliterating risk perceptions. Further, that foreigners desire to buy all kinds of U.S. fixed-income investments is good - both for the liquidity and capital formation it provides, and as a testament to the enduring confidence foreigners place in US corporate management, future economic growth, and stable governance. Heck, even the intrinsic reaction of state-owned investors in China like China Life and ICBC is to buy agency MBS with every dollar they come across. China having an underdeveloped fixed-income market that leads corporates to be heavily dependent on corrupt bank finance is well established (and for which the csrc has been attempting to fix, but flailing badly) and hence, the lack of foreign interest in Chinese bonds.
What do you mean, "nope?" You boasted that American debt was mostly in American hands and now I showed that that is much more true for China than it is for the US.
And now you're doing that classic shit you always do, after claiming that America is better because it has lower external debt, then when that is proven false, claim that America is better because it has higher external debt LOL. Half the time, it boils down to you vs you.
China simply has an unsustainable fiscal trajectory with its tax cut and spend policies. That is entirely unrrelated to the technical details of how the U.S. implements GASB.
If China's is unsustainable, we'll see the US collapse first and then then decide if we need to do something about it.
The federal governments debt has a weighted average maturity of 5 years. The entire national debt will reprice in 5 years at substantially lower rates and thus federal interest expenses will reset to the same snooze they were throughout the 2010s.
5 years later is the imaginary situation in your head. The current situation is $1T in interest.
Markets shrug off U.S.-China tension. Literally no U.S.-China headline breaks the S&P 500, particularly so since U.S.-China trade is a small portion of the U.S. economy, and the 301 tariffs that were supposed to be reigning fire and fury on the U.S. economy ended up doing nothing. Even the most ideologically dedicated free traders had to dig into the most obscurata of the census of agriculture to be like “oh if you see here, there are farmers with mid-sized plots in Linn County, IA growing soybean monocultures that saw a 3% decline in farm gate revenues”. Expecting a temporary doubling of treasury volumes to be the world’s most disastrous financial event is truly lol.
Markets "shrug off" a scenerio that I described that didn't happen. What is there to shrug off? Nothing at this point. What you wrote is irrelevent diarrhea... again.
US treasury auctions are well oversubscribed from domestic primary dealers and the world ex-China. She wasn’t there to sell treasuries
That's not what this says.
“Finding buyers for US debt is the top mission of Yellen. From a medium-and-long-term perspective, China is disposing of US debt,” it says. “Who else will buy it? Japan is the biggest creditor of the US but cannot buy more. The United Kingdom is facing an economic recession and sold $30 billion of US debt in April.”
She's begged China for help on US debt, asked China to stop making so much stuff, and to not help Russia. Too many nonsensical requests earned her nickname "the Beggar" in China.
