How is money generated by the US/ in general?

I have been reading a lot in the newspaper about how a recession in America will drive global recession because the US constitutes something like 95% of the world exports. I understand that concept, this may seem like a stupid question but how does the United States have all this money to spend? How is money generated? If we are making money from other countries how is it that we owe so many countries so much money? I dont' know if this is clear, but if you can help me wrap my head around this concept, it would really help. Thanks

Asked By: Mimi - 1/25/2008
Best Answer - Chosen by Asker
Money was generated from past money. This money was originally a note that promised the owner of the note a certain amount of money which was then backed by gold, which was a universal form of money. Gold got to be money because it was rare, and people could denominate things in gold - 1 oz of Gold is worth a cow, a... More
Answered By: angelwith4faces - 1/25/2008
Additional Answers (1)
If it was clear, than we'd all be multimillionaires. If you want to understand international markets, don't study economics, study psychology.
Answered By: IplayadoconTV - 1/25/2008
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