Comment by detourdog
2 months ago
I think what you are saying is the sum total of global economic activity from the US point of view is foreign debt. The US has no direct control over this debt other than control of printing treasuries.
Is that fair interpretation.
The world's dollar reserves are the US foreign debit.
The US government didn't create that debit. It's not the government's debit. They can influence people, but they don't control that one.