Three Economic Misconceptions

June 6th, 2012

MoneyThe linked article debunks three common economic misconceptions made by Americans. I believed all three and was surprised to find out they were wrong. Normally I take this type of article with a grain of salt, but the source is solid. Here are the misconceptions:

  1. Most of what Americans spend their money on is made in China.
  2. We owe most of our debt to China.
  3. We get most of our oil from the Middle East.

Thanks to John LaRoche for this link.

Link: http://www.dailyfinance.com/…

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