I remember from Economics class that the short answer is, the money is owed to Banks (National and otheres), insurance companies (a surprising chunk of the overall debt) and other countries (like China).
debt
Thursday, March 4 2010 at 8:38am
#2
Thursday, March 4 2010 at 9:50am
#3
i remember hearing a term imaginary numbers, i wonder if it relates t this subject.
Thursday, March 4 2010 at 11:34am
#4
Apparently the root of Canada's net worth just might be an imaginary number!
Thursday, March 4 2010 at 11:57am
#5
or projected earnings that has to be met. whose earnings we're not sure. oh no, we were expecting 100 billion dollars annually, and we only earned 99 billion dollars, what are we to do? i don't know much about these topics, but learning tidbits about them can be entertaining.
Was reading the cbc about the throne speech and the 50 odd billion Canadian debt, which made me wonder...
Who is that money owed to? Where does it come from? If you add all the country's bank accounts together what does it come to? Is that number negative? Zero? positive?
Does the world bank just throw a few more zeros on your account and start charging you interest? Is there a magic money well we haven't been told about? Or is the "creation" of money on a global scale relatively arbitrary?