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U.S. Mortgaging Its Future for Sovereign Fund Investments

In the 19th Century, Europeans bankrolled the Louisiana purchase, the building of US railroads, the steel industry, the oil industry -- even cattle ranches. By the end of WW II, they had very few U.S. holdings. There was the stock market crash, stock sales to finance Europe's own war effort, and confiscation by the US government (mostly German holdings). These days, look at how Russia recently screwed Shell Oil or how Venezuela nationalizes industries whenever they feel like it. To me, it's the foreign investors who are at risk.