The 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:
- Most of what Americans spend their money on is made in China.
- We owe most of our debt to China.
- We get most of our oil from the Middle East.
Thanks to John LaRoche for this link.